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Uncovering the Misconception: Dispelling the Myth of Cryptopia's Affiliation with Cryptopia Exchange

Divesh
19.01.23 07:57 AM Comment(s)

Cryptopia is a blockchain-based metaverse game that has gained popularity in recent years. However, many people often need clarification on Cryptopia with Cryptopia Exchange, leading to the misconception that the two are affiliated. 

In reality, Cryptopia and Cryptopia Exchange are separate entities with different purposes. While Cryptopia is a virtual world where players can engage in various activities, Cryptopia Exchange was a real-world trading platform. In this article, we aim to clarify the distinction between Cryptopia and Cryptopia Exchange and dispel the myth of their affiliation.

Cryptopia Exchange and Cryptopia

Cryptocurrency and blockchain technology have become buzzwords in recent years, and with the rise in popularity of these technologies comes a proliferation of companies and organizations using related names. One example is Cryptopia, a blockchain-based metaverse game, and Cryptopia Exchange, a former cryptocurrency exchange based in New Zealand. While these two entities may share a similar name, it is essential to clarify that we are not affiliated. 

Cryptopia Exchange

Even as the Cryptopia exchange was being shut down due to a prior hack that resulted in the loss of NZD 24 million, reports claim that it was once more compromised. A report claims that on February 1st, 2021, a creditor, U.S. company Stakenet, was informed that approximately NZD 62,000 in the XSN (Stakenet) cryptocurrency had been moved out of its cold wallet.

The wallet reportedly contained cryptocurrency assets worth NZD 2.7 million and had not been used since the initial Cryptopia hack in January 2019. Grant Thornton New Zealand, the company appointed to liquidate Cryptopia Exchange, claimed that it had not approved the transfer of funds and was looking into the matter.

In the 2019 hack, Stakenet had not lost any money and hoped to get back its assets. The information was released shortly after Grant Thornton began facilitating former exchange users to submit claims to recover their assets.


Why We Chose the Name Cryptopia

Cryptopia is a world built on blockchain technology. Frank, the Lead Developer, founded the game and saw the potential in creating a crypto utopia where players could immerse themselves in a world built on blockchain. When choosing the name Cryptopia, Frank and the team were drawn to its connotations of a utopia and saw it as an opportunity to create something new and exciting.

Frank is confident that he can change the perception of the well-recognized name with this game and believes that it has the potential to become a household name. Additionally, the .com domain was available, and the team at Cryptopia saw it as a valuable asset in establishing themselves as a top player in the industry.

It is important to note that Cryptopia is not an exchange but an immersive and interactive game. While it does have an exchange feature within the game, it is not meant to be a real-world trading platform like Cryptopia Exchange. Cryptopia aims to provide players with a unique gaming experience rather than facilitating the trading of real-world assets.

What are we?

So, what exactly is Cryptopia? It is a virtual world where players can build, trade, and explore in a decentralized environment. The game has four factions, each with unique characteristics and gameplay mechanics. Players can join a faction or create their own and work together to build a thriving community. 

Factions and Gameplay

The Eco Faction focuses on sustainability and environmentalism. Players in this faction work together to build eco-friendly structures and preserve natural resources. They also have access to unique abilities and items that allow them to interact with the environment more meaningfully.

The Tech Faction is all about innovation and cutting-edge technology. Players are tasked with developing and implementing new technologies to help their community thrive. They also can access advanced gadgets and tools to complete tasks more efficiently.

The Industrial Faction focuses on production and efficiency. Players in this faction work together to build and manage factories and other industrial structures. They also have access to specialized equipment and resources that allow them to streamline production processes.

The Traditional Faction in Cryptopia depicts a group dedicated to creating a new life and tradition in the virtual world. This group is committed to making the city livable for everyone and encouraging small businesses. The projects include housing developments and community centers to create a community where everyone can prosper. Regardless of background or upbringing, the Traditional Faction is dedicated to establishing a society that is equitable and just for everyone.

Players can collect blueprints and creatures, known as companions, in Cryptopia. Blueprints are non-fungible tokens (NFTs) and other fungible assets, such as natural resources like uranium, coal, gold, and electricity, that provide players with information on the resources needed to construct a particular tile in the virtual world. Creatures are pets or other animals that players can collect and interact with within the game.

In Cryptopia, players can also build structures and establish a presence in the virtual world. There are various buildings that players can construct, ranging from residential to commercial to industrial. These buildings serve different purposes and provide players with multiple benefits. For example, residential buildings allow players to live in the virtual world and customize their living space. 

In contrast, players use commercial buildings to run businesses and interact with others. You can also take on the role of a bounty hunter, accepting missions to retrieve loot from pirates. In this case, players can either return the loot to the victim or keep it for themselves.

Each faction has its unique storyline and challenges. In addition to the faction-specific gameplay mechanics, Cryptopia also features a wide range of activities and challenges you can take on, including building and managing their decentralized exchange (DEX) and trading with other players using in-game currency.

Decentralized Exchange (DEX)

One of the standout features of Cryptopia is the presence of exchange within the game. The in-game exchange, decentralized exchange (DEX), allows players to trade virtual items and resources with each other. It adds another layer of gameplay to Cryptopia, as players can earn virtual currency through their trades and use it to purchase items or resources within the game. It adds an extra layer of immersion and allows players to feel like they are part of a living, breathing world. 

Conclusion

Overall, the factions in Cryptopia offer players a diverse range of gameplay experiences and allow them to immerse themselves in a world built on blockchain technology. Whether they are focused on sustainability, innovation, efficiency, or adventure, there is something for everyone in Cryptopia.

Understandably, Cryptopia and Cryptopia Exchange may be confused due to their similar names. However, it is essential to clarify that they are two separate entities. From Cryptopia's perspective, we are excited to offer players a new and innovative gaming experience built on the principles of decentralization and community. It is a chance to explore, engage in various activities, and build a presence in a virtual world.