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The ASX-listed video game company cost buyers of its non-fungible tokens upwards of $8m when it scrapped its latest project.
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The country’s largest listed video game developer, PlaySide Studios, has enraged investors who claim the cancellation of a game after three years of development cost its backers tens of thousands of dollars.
Melbourne-based PlaySide quietly scrapped Bean Land, which was intended to be the next instalment in the viral Dumb Ways to Die series, last August.
The company raised $8.4 million selling non-fungible tokens (NFTs) for the game, per its own market disclosures, at prices as high as $1,300 each. The NFTs were intended to be playable avatars in Bean Land.
But no refunds were provided after PlaySide suddenly pulled the project, leaving one buyer USD44,000 ($61,000) out of pocket as the value of the tokens plunged to their nominal floor price.
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