Key points to remember
- Wolf Game is an NFT based winning game on Ethereum. It launched last week and has already traded 12,300 ETH on OpenSea.
- Despite several smart contract exploits, the game’s rarest NFTs change hands for over $ 80,000.
- Several fork projects hoping to emulate the success of Wolf Game have sprung up after its rapid rise.
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Several forks appeared after the launch of Wolf Game.
Wolf game trading volume skyrockets at launch
After digital stones and cats, NFT collectors turned to the sheep and wolf trade in the Metaverse.
A new project called Wolf Game launched on Thursday and quickly became a hit in the NFT community. It currently has the second highest volume on OpenSea with over 12,300 ETH traded, just behind Bored Ape Yacht Club.
The game combines NFT and DeFi with game-to-win and game theory dynamics. Players can collect digital sheep, which can also be staked to earn an in-game token called WOOL. However, it also features digital wolves, which can kidnap sheep and earn WOOL as a tax. Similar to other popular games like Axie Infinity, the characters in the game, in this case sheep and wolves, can be used to raise more NFTs. Players can also acquire rare plots of virtual land; The game’s lead developer, who goes by The Shepherd, announced early supporters could claim free plots earlier this morning.
While the full game isn’t due to land until early 2022, it did a “stealth launch” last week with an initial 10,000 NFT drop hit in about an hour. Priced at 0.06942 ETH, Sheep are now trading up to 7.75 ETH worth over $ 30,000. Wolves, on the other hand, come at a higher price because they can be used to steal sheep in the game. Several rare wolves have already fetched between $ 75,000 and $ 85,000 at publication.
Smart contract exploits
The game’s sudden rise was undoubtedly aided by the support it received from several NFT influencers. A well known collector known as Cap has strongly endorsed the game on their Twitter account over the past few days, while Pudgy Penguins co-founder COLE complaints for hitting a collection of wolves and sheep that are now worth over $ 500,000. Gary Vaynerchuk, who has been active in the NFT space throughout this year, said he purchased a Gen0 Alpha 7 Wolf, one of Wolf Game’s rarer NFTs, from the game’s Discord server. last night. FaZe Banks, a friend of Vaynerchuk with 2.8 million Twitter followers, also indicated that he is following the project on his official account. “Gm to those who play games on the blockchain @wolfdotgame, he writes in a Sunday tweet.
Wolf Game also encountered several major obstacles in its early days. An exploit in the smart contract code would have allowed players to ensure that they were leading wolves, the most valuable NFTs, rather than sheep, forcing The Shepherd to change the rules of the game. Further, as the user of Twitter is not leaning reported, another exploit gave players the opportunity to claim 6 million WOOL tokens instead of the 20,000 expected when they untied their sheep NFTs. The Shepherd confirmed that they halted the strike on Saturday and then halted other elements of the game after notstoops highlighted the issue. They wrote:
“Honesty is an important part of my job. @not__stoops is 100% correct. He discovered a vulnerability that endangers the creation and counting of WOOL. In aiming to revolutionize NFT gaming, my # 1 priority is to solve this problem. “
Despite the smart contract issues, the high transaction volumes indicate that market interest is still high. As is often the case with the most successful crypto projects, several derivative branches have surfaced over the past few days, including Avax WolfGame, WolfGame BSC, and Wizards & Dragons. Still, each of them will need to build an engaged community to generate as much of the hype as Wolf Game did.
Disclosure: At the time of writing, the author of this feature owned ETH and several other cryptocurrencies.
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