• Fantasy High will shut down in June after concluding its NFT buying and selling card economic system was unable to help the enterprise long run.
  • The crypto gaming platform distributed greater than US$20 million (AU$28 million) to gamers throughout its two-year run.
  • Co-founder Kipit mentioned speculative crypto behaviour undermined the buying and selling card recreation mannequin and prevented sustainable development.

NFT-powered fantasy gaming platform Fantasy High is getting ready to shut down on the finish of June, ending a venture that after turned one of the talked-about purposes in crypto social media circles. The shutdown follows two years of operations and several other makes an attempt to increase past its unique buying and selling card mannequin.

Fantasy High allowed customers to gather and commerce digital playing cards tied to crypto influencers, with participant rankings decided by engagement exercise on X somewhat than sporting efficiency. The sport launched on Blast in 2024 earlier than later migrating to Coinbase’s Base community in July 2025.

In keeping with the corporate, the platform returned greater than US$20 million (AU$28 million) to gamers and distributed US$3.2 million (AU$4.48 million) to influencers whose likenesses had been used within the recreation. Fantasy High additionally confirmed that buyers would obtain full reimbursements for his or her unique investments.

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The Limits of Crypto Buying and selling Card Video games 

The corporate mentioned its core downside was that the economics of crypto buying and selling conflicted with the construction of conventional buying and selling card video games. In a post on X, co-founder Kipit wrote that the venture had “tried to place crypto on prime of a mannequin that was by no means constructed for crypto”. Kipit mentioned speculative buying and selling turned the first attraction for customers as an alternative of the gameplay expertise itself.

“As soon as an economic system is financialised from day one, each determination turns into more durable…. You cease constructing a recreation and begin managing an economic system. That’s the lure, and we walked straight into it.”

Fantasy High said that buying and selling charges and NFT card exercise had been unable to help long-term operations regardless of ongoing experimentation with new merchandise and social-finance options. The corporate mentioned a number of different ideas had been explored over the previous 12 months, however none achieved lasting traction with customers.

The platform’s closing fantasy competitions are scheduled to complete on 18 June, whereas remaining rewards and funds will probably be distributed shortly afterwards earlier than the service is completely shut down. Prediction markets and several other different recreation modes have already been discontinued.

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The publish Fantasy Top Folds After US$20M Crypto Craze Burns Out appeared first on Crypto News Australia.