Peter Molyneux’s blockchain game arrives next month, just in time for NFTs to be completely worthless
Peter Molyneux, the veteran developer, is releasing a blockchain-connected business simulation game called Legacy next month. This release comes at a time when many people are losing interest in non-fungible tokens (NFTs), making them essentially worthless.
Legacy was first teased by Molyneux’s studio, 22cans, back in 2017 and made a fuller reveal in late 2021. The game involves buying “Land NFTs” using cryptocurrency, specifically the game’s own Ethereum-based LegacyCoin. These “plots” of land were sold for real money, with over £40 million being spent on them. The most expensive plot, a limited-edition London plot, sold for £670,000 in crypto.
After almost two years, Legacy is finally set to be released on PC and Mac on October 26th. Gala Games, the web3 company-turned-game publisher that helped build LegacyCoin, has hyped up the release, promising that it is more than just a game but the beginning of an extraordinary journey where creativity, strategy, and business innovation meet.
However, the game still relies on the blockchain technology and NFTs. Players can buy and sell digital items stored on the GalaChain blockchain, as well as “legacy deed keys” owned by those who bought plots. These keys allow players who don’t own land to win real rewards.
Interestingly, Legacy’s release comes after a recent report revealing that the majority of NFTs are now worthless. The study found that 95% of more than 73,000 blockchain-based collections have no value. Additionally, the energy used to create these NFTs consumed a significant amount of carbon dioxide, equivalent to the yearly energy usage of over 2,000 homes or 3,500 cars.
The report concludes that much of the NFT market is driven by speculative and hopeful pricing strategies rather than actual trading history. This sobering reality should temper the excitement surrounding NFTs.
Despite this, Legacy is set to launch next month. Players will have the opportunity to explore the game’s blockchain-connected world and experience the fusion of creativity, strategy, and business innovation that Molyneux and his team have promised. Whether Legacy can succeed in a market weary of NFTs remains to be seen.
