QGlobe’s Austin told CoinDesk the contracts signed between MTG and her firm were contingent on MTG’s execution of promised deliverables, which she says the project has fallen short of achieving thus far. By March, holders had apparently staked over 50% of all MTG NFTs to earn a still-uncreated token. Listed for 0.2 ETH (about $822 at the time), the collection sold out in seconds and netted roughly $5.7 million in initial sales.

MTG continued to build momentum by publishing an ambitious project roadmap in March 2022 that outlined plans for its expansive gaming ecosystem – pledging to build a “metaverse environment for gamers” and drop a “cutting-edge MTG game” in the third or fourth quarter of 2022. Ahead of the game launch MTG said it would pin down plans for an in-game offering (IGO) to expand its asset offering. But despite its impressive NFT launch and laudable goals, the project has not delivered on many of its early promises that initially enticed professional gamers. In December 2021, a group of esports enthusiasts set out to build the ultimate Web3 gaming ecosystem made for pro gamers. Now, the founding team has effectively stepped away from the project, leaving its community confused and angry.

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In February 2022, MTG released an NFT staking feature so holders could earn ARCADA. Staking, the project said, would allow games to earn ARCADA pre-launch, a token that according to the MTG website, would be used for in-game purchases and determine a player’s “society class” within the ecosystem. In February 2022, MTG released an NFT staking feature so holders could earn ARCADA. Staking, the project said, would allow games to earn ARCADA pre-launch, a token that according to the MTG website, would be used for in-game purchases and determine a player’s “society class” within the ecosystem.

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More Than Gamers Sold a Breakthrough Web3 Game and Delivered Empty Promises

For some gamers, MTG was their first dive into Web3 – Ben told CoinDesk that MTG was the first NFT he ever purchased. In QGlobe’s early days working with MTG, sources approached Austin with information about a previous project that Kirsheberg’s esports league TNA promoted called Sushiverse that employed similar tactics to MTG and faced an early demise. Russell Rescue is a network of volunteers dedicated to placing unwanted, displaced or abandoned Jack Russell Terriers into permanent homes. All dogs entering rescue are either temporarily placed in a foster home or must remain with their owners until a suitable home can be found.

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On Feb. 14, MTG released a trailer for its upcoming Web2 racing mini-game, which some dismissed as another flashy promotional opportunity. At the time of publishing, the project’s floor price on secondary marketplace OpenSea has fallen from a high of 0.6 ETH (roughly $2,400 in December 2021) to 0.012 ETH (about $20 today) – a 97% drop from the project’s original mint price. “The reality is that this space is ruthless and critics will do what they can to put you down.

• The above graph displays service status activity for Adobe.com over the last 10 automatic checks.
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• The remaining 3,000 tokens were listed the next day, raising the total profits of the mint to around 8.2 million.
• You can see scheduled maintenances for Adobe and your other services by logging into your IncidentHub dashboard.

It was around this time that NFT holders began expressing confusion on Discord and Twitter about the overall state of the project and many of the long-term promises that remained confined to the road map. Delays plagued the release of the mini-game, and the $100,000 prize pool for the tournament for the mini-game was eventually reduced to $60,000. Along with new leadership came a major deviation from the ethos of the project that initially got gamers excited – the announcement https://p1nup.in/ of a pivot away from building a Web3 gaming ecosystem in favor of developing a Web2 mobile game.

Why the formerly successful project has recently undergone a major personnel and strategy shift remains unclear. Where and how the $8.2 million in initial funds were spent is an even greater mystery. Ben told CoinDesk the sudden strategy shift signaled the project’s impending demise.

Reports in the Last 24 Hours

“This left the community in utter shambles, with no owner to trust, so many conflicting stories and still no delivering on the promised collaborations,” Ben, a mononymous MTG community member, told CoinDesk. Ben lent CoinDesk one of his MTG NFTs during the course of this story to verify his membership and allow CoinDesk access to NFT-restricted areas of the MTG Discord. Around two months after their mint, MTG posted on Twitter that TFG had agreed to step down from the project, raising questions about the overall direction of the project.

It even worked with professional Fortnite player Daniel Keem, aka Keemstar, on a MTG PFP and token holder-only tournament. While some community members continue to hold on to hope the project will deliver on its promises, others have decided to cut their losses. Soon after, MTG posted a Twitter thread in response to the criticism, clarifying the game’s intention to drive value to holders of its (still unlaunched) ARCADA token, while pointing a finger at those who criticized it. To make matters worse, all of the original founding members have recently stepped away from leading the project, leaving community members that poured in thousands of dollars blindsided and with a slew of undelivered promises.

This did not initially deter QGlobe, which wrote in a blog post in May 2022 that it would facilitate MTG’s in-game offering to allow users to make in-game asset purchases. Based on MTG’s road map, users believed the ARCADA token would launch and have real monetary value – which it has yet to provide. Kirshenberg told CoinDesk investment firm Wolfco Capital would work on this token with MTG, but that the partnership with Wolfco Capital ultimately fell through, and the liquidity pool never came to fruition. This did not initially deter QGlobe, which wrote in a blog post in May 2022 that it would facilitate MTG’s in-game offering to allow users to make in-game asset purchases. By sharing your report below, you can help us monitor service disruptions and keep others informed in real time. Ahead of the NFT collection’s release, the MTG team was strategic about advertising the project with flashy promotional videos across multiple accounts.

In its early days, the project boasted that one of its rare “Legendary Gamer” NFTs sold for 27.5 ETH, which was about $102,500 at the time. “I saw the opportunity to create a community in the Web3 space that’s centered around actual gamers,” Kirshenberg told CoinDesk. You can see scheduled maintenances for Adobe and your other services by logging into your IncidentHub dashboard. Adobe’s maintenance duration is usually announced on their official status page.

• Where and how the $8.2 million in initial funds were spent is an even greater mystery.
• You can fine tune your alerts for Adobe’s status by selecting only those components that are relevant to you.
• The goal was to create a liquidity pool for users to earn rewards on their token.
• At the time of publishing, the project’s floor price on secondary marketplace OpenSea has fallen from a high of 0.6 ETH (roughly $2,400 in December 2021) to 0.012 ETH (about $20 today) – a 97% drop from the project’s original mint price.

It even worked with professional Fortnite player Daniel Keem, aka Keemstar, on a MTG PFP and token holder-only tournament. Our system continuously analyzes report patterns and automatically updates status indicators when significant changes are detected. You can also view detailed activity charts showing the last 24 hours of reports. This chart displays user reports over the last 24 hours, helping identify patterns and potential outages. The above graph displays service status activity for Adobe.com over the last 10 automatic checks. If no bar is displayed for a specific time it means that the service was down and the site was offline.

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Please note that your country, service provider and browser information will be displayed next to your comment to better analyze a possible outage. Soon after, MTG posted a Twitter thread in response to the criticism, clarifying the game’s intention to drive value to holders of its (still unlaunched) ARCADA token, while pointing a finger at those who criticized it. Its road map also included plans for broader partnerships with major brands, including sportswear giant Champion, which would offer exclusive merchandise and wearables on the MTG platform (a tweet about the partnership has since been deleted). In-person meetups, conferences and even (somewhat strangely) a full rebrand were woven into the project’s future plans. Post-mint, the collection collaborated with buzzy projects such as Hype Bears Club, FishyFam and Awesome Apes, to cross-promote allowlist spots.

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Whether you’re editing images, designing for web and mobile, producing video, or managing digital documents, Adobe offers seamless workflows and AI-powered features to elevate your work.Explore the full suite of Adobe products and services at By March, holders had apparently staked over 50% of all MTG NFTs to earn a still-uncreated token. The goal was to create a liquidity pool for users to earn rewards on their token. On Dec. 23, 2021, MTG opened the mint for the first 7,000 NFTs in its collection. Listed for 0.2 ETH (about $822 at the time), the collection sold out in seconds and netted roughly $5.7 million in initial sales. The remaining 3,000 tokens were listed the next day, raising the total profits of the mint to around 8.2 million.

Around two months after their mint, MTG posted on Twitter that TFG had agreed to step down from the project, raising questions about the overall direction of the project. The project quickly gained traction among collectors and gamers, leading to booming sales on the secondary market. In its early days, the project boasted that one of its rare “Legendary Gamer” NFTs sold for 27.5 ETH, which was about $102,500 at the time.