FTX’s controversial actions in the cryptocurrency sector have resulted in several A-list celebrities and companies facing trouble, as the exchange’s actions continue to cause concern.
The list of victims that FTX has caused in the cryptocurrency sector is rising. Despite getting several A-list celebrities and cryptocurrency companies into trouble, the exchange’s uncontrolled rampage has not yet subsided.
This time, FTX has claimed a new victim: Storybook Brawl, a Web3 Hearthstone rival that its founder, Sam Bankman-Fried, previously adored.
Good Luck Games announces cancellation of the card game Storybook Brawl on May 1. The announcement was made on April 26, 2023. The decision to cancel the game was due to difficulty finding a “path forward.” This followed the closure of the game’s parent company, FTX.
After FTX’s bankruptcy the game studio may be liquidated. That forcing the creators to close their servers and stop maintaining the game.
The game will be available to players through May 1 only. The devs said goodbye on Twitter but haven’t said where they’re going.
Sam Bankman-Fried, the former CEO of FTX who is currently being prosecuted on 13 criminal counts, has called the game the “next big thing” in cryptocurrency gaming. However, the game’s narrative is coming to an end in light of the developers’ revelation.
A Fight That Was Brief
In 2022, FTX purchased Storybook Brawl under its Gaming brand. Sam Bankman-Fried, the CEO and co-founder of the exchange, was a devoted enthusiast who said playing the game would help him “de-stress” and “clear his head.”
Even though it was only a modest independent game, the card-battling game anticipated outstanding sales. Data from StreamCharts indicates that Storybook Brawl reached its all-time high of 2,770 concurrent players on Stream in September 2021, six months before FTX acquired the game.
However, when the exchange bought the game, the number of players gradually decreased, from 820 to, on average, 330, a drop of over 60%. On social media and in reviews, several gamers complained about how the game was “forcing” NFT inclusion.
The FTX scandal had a significant impact on the game because fewer players were playing it, prompting it to cancel its World Championship event after the exchange declared bankruptcy.
Since then, the game has had trouble taking off without FTX.
On the other hand, FTX has managed to recover close to $7.3 billion and intends to reopen for operations in 2024. Sam Bankman-Fried is accused of planning to make more than 300 unauthorized political contributions. After terminating its $210 million FTX agreement, leading esports organization TSM has acquired a new Web3 partner.
The scandalous exchange is killing off many strong and intriguing projects. For aspiring independent game makers who are susceptible to dubious get-rich-quick schemes and deals, Storybook Brawl may serve as a cautionary tale.