The Walking Dead: Empires, an officially licensed role-playing game based on the popular TV show "The Walking Dead," is set to shut down after July 31. The publisher, Gala Games, just announced that they will be shutting down the multiplayer survival title indefinitely. This hugely popular game, which is entirely centered around Ethereum NFTs, had been in open beta for a full year. Unfortunately, this decision means that NFT holders are left only to confront the fate of their digital assets depreciating in value.

Game Overview and NFT Integration

The Walking Dead: Empires, first announced in late 2021, challenged players to craft weapons, build bases, and fight for survival in a zombie-infested world. What made it different was how it combined Ethereum NFTs into the gameplay. Players were able to purchase NFTs that would represent their in-game resources, weapons or land deeds, to create and develop their bases.

In fact, the game was open to playtesting as long ago as 2023. The promise of true ownership over rare in-game assets had players flocking, causing many to spend thousands on these NFTs.

High Stakes and Market Value

The market for The Walking Dead: Empires NFTs saw some astonishing valuations. Owners were still demanding exorbitant amounts for their digital wares, with some NFT-based handguns retailing for up to $30,000. Even the lower level ones were selling for a minimum of $1,000.

Legendary land deed claims in The Walking Dead: Empires sold for as much as $67,000 in 2021, and some players paid upwards of $10,000 for lands within the game. Now, these investments face an uncertain future.

Compensation and Community Reaction

Gala Games plans to distribute other NFTs from its gaming ecosystem to users as compensation for shutting down The Walking Dead: Empires.

While the game's journey is coming to an end, we remain committed to ensuring that these NFTs continue to have utility. - Gala Games

Yet, despite the progress represented by this move, it has been haunted by skepticism and disappointment from a portion of the community.

People paid upwards of $10K+ for lands and are now getting $2 mystery boxes. - Jesus Martinez

The resulting optics — the difference in value between the initial NFTs and the compensation made — have stoked further backlash. The closure of The Walking Dead: Empires highlights the risks associated with investing in NFTs within online games, particularly when the game's future is uncertain.