Level Up: A Lifeline for Lost Crypto Gamers

As numerous blockchain-based games face game shutdowns due to dwindling interest and funding, one established title is extending a helping hand.
Splinterlands is offering complimentary NFT assets to players affected by these closures.

Splinterlands, a prominent crypto-based trading card game, has launched a recovery initiative valued at $500,000 in crypto tokens and in-game resources. This fund will be disbursed to players of defunct blockchain games over a seven-year timeframe.

Speaking with Decrypt, the Splinterlands team stated their ongoing discussions with projects built on the Hive blockchain to further bolster the recovery fund. They also invite others in the industry to contribute to rescue the crypto gaming space.

Currently, players from Pirate Nation, Tokyo Beast, and Walking Dead: Empires are eligible to tap into the Crypto Gaming Recovery Fund. To participate, players need to create a Splinterlands account, make a one-time $10 purchase (redeemable for in-game credit), and provide the wallet address associated with their assets from the ceased games. The original assets will remain in their possession.

These players can then unlock assets from the $500,000 fund progressively over the next seven years. Distribution of the assets will depend on their engagement on the Splinterlands platform, gauged through achieving monthly objectives such as participating in at least five battles.

Dave McCoy, COO of Splinterlands, shared with Decrypt, “We encourage any of our industry counterparts who wish to contribute to join us. This benefits the entire space by fostering growth.” He added, “We’re leading the charge, and we hope others will follow.”

The crypto gaming sector has witnessed a recent surge in game closures, affecting several projects, including Deadrop, Ember Sword, Nyan Heroes, Realms of Alurya, Symbiogenesis, Raini: The Lords of Light, and MetalCore.

Despite varying reasons cited by each game, a shared outcome is the disenfranchisement of players. These players, having invested in these projects, are left with tokens and NFTs that hold no value.

Blaze, Splinterlands’ sales and marketing lead, stated to Decrypt, “Having been part of many online communities, I know the devastating feeling of a project failing, particularly after high hopes. We realized that someone needed to step up and aid those who were suffering.”

The Crypto Gaming Recovery Fund’s operations are overseen by a decentralized autonomous organization (DAO). The DAO votes on the eligibility of games for the fund. The allocation of resources is tied to supported games, but Splinterlands hasn’t released detailed allocation specifics.

The fund includes an initial allocation of 2 million SPS tokens (valued at over $16,000) and 5,000 Rebellion packs in its first year. In the seventh year, the fund will contain 10 million SPS tokens (approximately $82,000) and 25,000 packs. McCoy notes that awards are based on the activity.

McCoy explains, “We designed it for seven years as we have been running for seven years. We are trying to highlight how we are here for the long term”.

Splinterlands, formerly known as Steem Monsters, is a strategy-focused trading card game centered on NFTs minted and tradable using the Hive blockchain. The project originally went live in 2018. The rebranding came in 2019, and the game has been under constant development since then.

The game’s SPS governance token debuted in July 2021, rapidly climbing to a peak value of $1.07, as per CoinGecko. However, it has since decreased significantly, currently valued at around $0.008, marking a 99% decline.

McCoy explained to Decrypt that Splinterlands has navigated numerous challenges within the crypto gaming sphere. He said that management is difficult, suggesting that other games’ models are not long-term.

McCoy considers the current wave of closures to be a market correction for the crypto game industry, but is hopeful that the Crypto Gaming Recovery Fund is the first step toward re-establishing a stronger community in the gaming world.

“This endeavor reaches beyond Splinterlands, touching the broader industry,” McCoy emphasized to Decrypt. “We welcome any game that wants to take part and donate.”