Source: NFT News
Just as it was in the development stage for a Viking NFT Game, Pixie Interactive, a GameFi studio, has folded up. As per reports, this closure is due to debts related to taxes and cryptocurrency.
The studio reportedly invested a massive amount of money in LUNO after investors fell through and was also saddled with an $800,000 tax bill that it was unable to pay. To stay afloat, Pixie Interactive launched the ill-fated NFTVault project but struggled to attract investments.
In the last few weeks, rumours began to float about the company’s dire situation, which was eventually confirmed to be true.
“Not only is Pixie bankrupt, but Wesley is also now personally bankrupt too and looking at over a decade of paying back what is owed to his government,” said an ex-employee on Discord, attributing their failure to scaling the business too fast.
The employee also revealed the employees were informed on July 22, 2022, that the project had gone bust, though they were unable to publicly speak about it due to non-disclosure agreements. Sadly, it was also revealed that members of management have been unreachable and that ex-employees have been scrambling to secure Northern Guilds IP and assets in the meantime.