NFT Viking Game Goes Bankrupt Amid Crypto Crash & Mismanagement Allegations

NFT Viking Game Goes Bankrupt Amid Crypto Crash & Mismanagement Allegations

Image for article titled NFT Viking Game Goes Bankrupt Amid Crypto Crash & Mismanagement Allegations

Image: Interactive Pixie

First announced in September 2021, at the height of the global NFT collective madness, Northern Guilds was meant to be “a fun, device-independent blockchain MMORPG inspired by your favorite childhood games. It may shock you, reader, to learn that Northern Guilds ended up being none of that.

As first reported by Martijn van Wezela member of the Northern Guilds development team posted a lengthy update on Discord of the project, telling anyone who was looking forward to the game that it was dead. And that Pixie Interactive (the company behind it) was dead, and claiming that it all became crap because the management team spent all their money on everything from crypto investments to “excessive business travel.”

Northern Guilds Tech Demo Teaser

Calling the past few months “a nightmare, a tragedy, a dumpster fire, the former employee says that although it was initially claimed that the game “just got enough funding a few months before we got through 1.5-2 years of development, The Pixie Management Team—comprised of CEO Thomas Konig and CTO Wesley Peeters—had constantly been busy trying to secure After money, especially by meeting “Russian nationals”.

It is also alleged that the pair “started (unbeknownst to the rest of the team) another ‘NFTVault’ project, which “quickly failed,“but also” took their attention away from Pixie for a while, leading to a period “where our senior management and leadership climate started to change and we all felt it.

The employee also accuses Konig and Peeters of spending the company’s tax money on a crypto investment…who tanked-and say that it was part of an $800,000 tax bill that could not be paid. This ultimately bankrupted the studio, they claim. In a statement published at My boxKonig denies this, saying, “The tax money has not been used to invest in crypto, to my knowledge. I have never had access to the financial statements of the company.

Other allegations made in the post include:

Tom started disappearing completely intermittently in January and February. Our CEO was unable to lead the team, meet deadlines, and communicate effectively or show up for meetings. It became more and more frequent to the point that in May the team barely heard from him and we lost weeks of work and momentum trying to manage the situation and rearrange roles, responsibilities, and more…

Tom left Wesley for the majority of the fundraising, bankruptcy, communication and leadership process. Stringing everyone together with promises that the job was done and updates would be coming soon. Leaving the mess for Wesley (and the team) to clean up behind him. They are both responsible for what happened. Unfortunately, so far, Tom has completely failed to own this situation and avoids all the consequences that Wesley faces. Wesley was the only one of our founders to try to support and help employees through this ordeal. He acknowledged what happened.

Developers now say they are trying to save the surely worthless IP and its assets so they can get Something for the work they’ve done over the past year, and also started work on a smaller-scale sports game loosely based on the same Viking premise.

Although the statement was posted by the account of only one former developer, community manager Lynsey Christensen, it was also co-signed by a number of them, including “Adam, Rachel, Miha, Dave, Bruno , Rayan, Brendon, Hunter, Walter, Alex and Wesley. The only Wesley on the development team is Peeters.

While denying crypto and tax allegations, Konig recounts My box that he blames the studio’s demise on its hiring too many developers at too high a cost:

Much simpler, but no less heartbreaking and hard on everyone involved, and still entirely our fault, $2.5 million before Dutch tax doesn’t pay off an MMORPG when you scale your business down to more than 20 people a year on a European salary structure just before a financial crisis.

And add to that that we hired internationally, so we paid significant fees to the payroll companies on top of that.

That’s before accountants, lawyers (with expertise in crypto and crypto being a legally difficult field), licensing, marketing, travel expenses, overhead, the list goes on.

I’ve also contacted Peeters – who the post says “is also personally bankrupt and has for over a decade been considering repaying what is owed to his government” – and will update if I hear from him. . And please don’t confuse this story with the other one on an NFT game and crypto investments gone bad it was a different Game.

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