Abandoned Castles - Infinity Skies Play2Earn Game Goes Bankrupt
Let's add another brick to the foundation of horrible events that happened in 2022. The list is so long that I may forget about some of them but certainly Luna, Celsius and Beanstalk are on my list of hard hits.
Came across Infinity Skies back in 2021, about one year ago. The concept of play was innovatory and the graphic layout was above the average play2earn game. It was so good that I said Infinity Skies was state-of-the-art blockchain gaming.
Being at the heart of the NFT movement, all into P2E games, I appreciated the for pillars that Infinity Skies decided to focus. The idea was to "Build, Socialize, Trade and Adventure" while creating the most prestigious castle in the sky.
It had a NFT Marketplace, adventure, reward chests and several rarities. It had a vibrant community and a strong dev team. Sander Dijkens was the brain behind the game and one of the the DreamFuel Games co-founder. His experience in Java game development and game programming was a guarantee that Infinity Skies will bring innovation and the game will rise above the blockchain gaming mainstream.
However, it didn't go well for the projects, as the launch was delayed. The aftermaths of the delay led to more complications and it turned bad for the gamers and investors.
The $ISKY token was launched on Quickswap, then MEXC Global. However, the value of the token kept diving more and more after the launch.
The monthly giveaway for banknote was always a sold-out, which clearly shows the game had a good pool of followers. It usually took less then a minute for 1000 banknotes to be claimed, and each had a chance for a bronze, silver or gold rarity. The rarity would be reflected when the banknote would have been swapped for in-game NFTs.
I had claimed a banknote each monthly giveaway and I currently hold 4 bronze ones and a golden banknote. I thought is worth it to try and sell it, and list it a little under the market price. It was a bargain grab at 0.12 ETH but that was before Infinity Skies gone bankrupt.
What makes me feel betrayed is that they put the sky plot boxes on sale only few days before they announced the bankruptcy, which I consider their desperate attempt to raise the money and save their ass from the problem. I lost so much in 2022 so the 49 USDC I spent on the Black Skyplot Box is not important, but the way they went ahead with the sale was sneaky AF!
Going back to $ISKY, I staked them in Deep Mines for extra rewards. I earned 16,949 IQSF in 3 months but I have no idea what to do with that or if they will ever have a dollar value. And speaking of value... $ISKY took a deadly dive!
My bag of ISKY was 80% investment, spending about $1000 few months ago. I added some small amounts on top of that through the Weekly Castle Competitions, and my whole stash was valued at about 200-300 dollars before the announcement.
I was down 70% the initial investment and I was sure it can't get worst. I was sure that the value will start to go upwards when the game will get released and players will hype into Infinity Skies. However, this year showed everyone that if something can go wrong... will definitely go wrong! I gave up on this and cashed out $17,50 for 2395 $ISKY!
Was 2022 the worst year ever? Who knows... time will tell! Let's wait for the next one and see how 2023 will unwrap, before we draw any conclusions. In case you wonder how I cope ... I am doing well! Everything is alright!
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