Tokyo Beast announces that the game will go offline on August 24

The developers of Tokyo Beast, a mobile combat game launched on the Ethereum layer-2 network Immutable zkEVM, have announced that the game will go offline on August 24. This is barely a month after its launch on June 9.

The producer Naoki Motohashi said, “Due to the difficulty of balancing operational costs, and after extensive discussions with our stakeholders, we have arrived at the painful decision to terminate the service,” he wrote. “To all our supporters, we sincerely apologize and share in your disappointment and regret.”

It’s a sudden end for what many saw as one of this year’s most promising web3 games, especially after 4 years in development and a $20 million budget backing the project. The Tokyo Beast store stopped selling things on July 22.

BASE, the game’s back-end system, will be shut down on July 31. On August 24, the last games and full game service will end. The form can be filled out for refunds starting August 25 and ending September 30. That date is also when the app will be taken down for good.

The compensation criteria

The sudden move to shut down the game potentially fuels an unexpected benefit for people who invested in TGT or the game’s associated NFTs. To that end, eligible holders will receive compensation for their assets. Refunds will be paid in $USDC, not TGT. This is mainly to avoid price swings and protect future projects tied to the token.

The team allocated a $350,000 pool, with item values based on their market price as of July 20. Users who own BEAST NFTs will get more than the $200 paid in the main sale. The amount they get back in $USDC stablecoin will depend on how rare the assets are and range from $203 to $597.

TGT unstaking fees will also be refunded based on user tier. Any lucky ticket NFTs bought from the official shop will get full refunds. Unused in-game GEMs are also fully covered.

Tokyo Beast money bumps

Tokyo Beast made more than $1 million in its first week, and more than 300,000 copies were downloaded. However, as soon as TGT went on sale in late May, its value dropped sharply. It then fell even further after a short rise around the game’s release.

TGT is now worth $0.006, 96% less than its all-time high. It has dropped another 16% in the last 24 hours due to news of the shutdown. The value of the token is now only $897,000.

Tokyo Beast had many problems, even though it was very exciting. @vert1dkrn, who makes content for Web3, said that the game gave players easy ways to make money without spending any. In just five days, he made $60 on his own without paying anything.

The team also spent a lot of money on advertising. As he said in his tweet, they had a “streamer program with 20 streamers in it,” but most of them didn’t show up. Many small creators with less than 1,000 followers got paid four figures, but bigger influencers were not even mentioned.