Why Cryptoland Is Being Called Blockchain’s Fyre Festival

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You might have thought you’d heard it all with NFTs and the metaverse, spouted by many as the heralds of Web 3.0. Well, I present to you Cryptoland, an NFT project that has copped a lot of attention over the past few days. On Twitter, people are comparing it to Fyre Fest.

Cryptoland is an ambitious blockchain project involving a virtual island, NFTs, a real island and the metaverse. It’s riddled with concern, as detailed by Twitter user Molly White (@molly0xFFF), whose long Twitter thread on the project resulted in Cryptoland sending her a cease and desist letter.

Cryptoland has a lot to say on the project. Firstly, we bring to your attention this promotional video about Cryptoland, focusing on a new arrival and his antics on the island. Don’t watch if you can’t handle some second-hand embarrassment.

Even if you didn’t watch it in full, you can probably get the gist from a few seconds of viewing. The video would lead you to believe that this island (which doesn’t exist) is a crypto-powered paradise where nothing can go wrong. That the island is also accessible via the metaverse.

It’s a crypto project looking for investors to buy up NFTs, real estate on a real island and a metaverse island, along with “Cryptolanders” NFTs, which are just like any other NFT project except using the Connie mascot (from the promotional video).

Cryptoland nft metaverse
Cryptolanders NFTs. Image: Cryptoland

Supposedly, this will all feed into the Cryptoland island project, where Cryptoland residents will be able to fly and visit. People have theorised what island the Cryptoland organisers are considering for purchase, with this one in Fiji topping a lot of theories  – however, it’s tiny, someone likely already lives there, and it’s still for sale for around $16.6 million.

Despite no physical island being identified just yet (though the developers have confirmed an island has been secured), Cryptoland is already selling parcels of land. One pointed out by White costs 319 Etherium, or around $1.4 million. The verification to buy a parcel of land also requires a check-box verifying you’re not a U.S. citizen. Supposedly each parcel will be made up of one acre of land – a sizeable purchase.

The Why Paper (not a mis-type of white paper) of Cryptoland offers some interesting insights, like the politics of the island and what purchases entitle you to which things. Much of it doesn’t actually discuss the island itself and is more caught up in discussing voting on the official Discord. It’s more of a concept sheet than a proper plan of anything, littered with spelling and grammar mistakes galore.

No indication has been given on where the money to purchase the island will come from either – only that the money won’t come from “King Cryptolanders” (aka people who have already purchased one of 60 exclusive parcels of land in the “Blockchain Hills”). That being said, Crypto figure Kyle Chasse has supposedly put half a million dollars into the project.

Adding to this, there are claims the animators of the Cryptoland video ripped an asset of a seagull from an artist. A staff member listed on the site also no longer wants to be associated with the project, saying they’re not affiliated with it.

The official Discord is now accepting members on a manual basis.





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