A buzzy NFT startup from Decentraland’s founder was supposed to be the future of crypto gaming. His $20M gamble on Genesis could cost the company its future
For a brief moment in 2021, it looked like crypto had finally found its killer application: video games. The “play-to-earn” game Axie Infinity had notched millions of users and platforms like Sandbox raked in venture funding. Perhaps the most promising of all was a much touted metaverse project out of Argentina called Decentraland, whose token-known as Mana-exploded a whopping 6,000%.