In case you hadn’t heard, cryptocurrencies and the NFTs that are backed by them have crashed pretty hard in recent weeks. BitCoin has lost a third of its value in the past month alone, while NFT trading volume has fallen over 60 percent on OpenSea.
Apparently, SNK didn’t get the memo because now there’s a King of Fighters NFT project. Although, it’s possible this crypto project doesn’t have SNK’s full support.
On Tuesday, a new Twitter account called "The King of Fighters Crypto" launched a trailer that didn’t really reveal much. We got more info in the text of the tweet, which alleged that it was "officially authorized by SNK" to offer King of Fighters NFTs "to fight again in the Metaverse Arena."
Of course, there’s no details as to what metaverse will actually use these NFTs, where one can purchase these NFTs, what sort of NFTs will be offered, or what price they’ll be offered at. Presumably that information will be forthcoming.
King of Fighters fans weren’t willing to wait. They immediatelypanned the original tweet, with one Twitter user even accusing the new NFT project of being a scam. Supporting that accusation is the fact that much of the trailer uses freely available Unreal Engine assets that have been modified slightly with the King of Fighters logo.
One Twitter user also noted that SNK’s official account deleted its retweet of The King of Fighters Crypto’s initial announcement. Whether that’s because it’s a scam and not actually affiliated with SNK or because of the fan backlash is impossible to say. The @CrtyptoKOF has now gone private and the only recent posts are merely photos of a representative at NFT NYC 2022, which ends today.
Besides being an increasingly poor investment, NFTs are also wildly unpopular in video games. Player reaction has been resoundingly negative for a number of reasons, but the biggest is how crypto turns games into work.