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Comment by pavel_lishin | Hacker News Reader

https://web3isgoinggreat.com/single/neopets-shuts-down-its-n...

> After announcing a Neopets Metaverse project — complete with NFT collections and two different crypto tokens — in 2021, Neopets has announced they will be "transition[ing] away from the Neopets Metaverse game and redistribut[ing] those resources to the development of a game that we feel can better reflect our values and vision." The announcement came along with an announcement that the company had raised $4 million, and undergone a major change in leadership. They reassured their community that its new project, "World of Neopets", will not have any NFTs and "is NOT built on a crypto model".

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I was going to mention this as well. I am of the demographic squarely aimed at the NeoPets revival (late millenials/early gen-z) and not a single person I know views NeoPets in a good light after they tried to pivot to NFTs.

I'm sure not everyone holds the same views as my friends and I, but I know they burned a LOT of good will trying to make a quick buck.

I hope this nft/ cryptocurrency think is over. It’s been over a decade now.

I don't like it at all (it isn't 'decentralized' when the content is on a centralized server), but when I think really hard on it neither do I like stuff like Panini, MtG, and FIFA. Ultimately, the RNG is just massively unfair due to sheer greed. If you'd have say three token rarities, common worth 0,05 USD, uncommon 0,20 USD, and rare 0,50 USD you're talking about values which are OK for kids. You'd get the rare one you like for 0,50 USD and you're good to go. Maybe you collect a couple more. But its optional, they're all affordable, you could give a barbie NFT as present and its a small present (heck, it IS a small/minor thing). That's not how it works though. The prices are through the roof and they want rich kids to be whales they can suck dry, and they'll feel special with their unique rarity other kids cannot or do not want to afford. They think they look cool, and if it gives power (like Messi, Ronaldo, or Black Lotus) then it isn't about skill anymore (uneven playing field). In short, the issue isn't merely NFTs (the 'decentralized' marketing hype is a scam within itself); it is bad RNG/odds. Which existed in casinos and fruit machines way before FIFA, MtG, Panini or any NFT existed.

When the hype is dead is when it'll have just begun.

For many, it will be "over" - mostly the grifters and opportunists in the space.

Thank goodness. Web3 was, at least in the last few years, little more that a meme reliant on very cheap money due to ahistorically low interest rates. The sort of thing that only proliferates after it's been so long since the last recession that everyone forgot the value of money.

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