The gaming industry is gaining momentum as they’re reshaping the way we interact with the world. It is one of the few sectors that inspires innovation by continually pushing the boundaries of what’s possible to build new technology to serve the millions of gamers across the globe.
Blockchain and gaming
The combination of blockchain technology and gaming holds excellent potential for both industries. Many see blockchain gaming as the future of video games. Even though blockchain gaming is still very much nascent, there are a handful of companies that makes games built on blockchain technology. Komodore64, a Dutch video game company, is one of them.Â
Bankrupt and arrested!
Founded in March 2019, the Hague-based company has created a gaming console with Komodo gaming SDK powered by blockchain technology. As per the latest report, the company which raised €78 million in investment from an anonymous investor is now bankrupt, and the founder Sam Narain has been arrested.
Komodo – Smart Chain platform
Komodore64 had big plans with the gaming platform, but it has turned out to be destruction for many. As per the reports from Sprout.nl, Sam Narain wanted to use the industry’s first open, composable Smart Chain platform – Komodo. Furthermore, many people invested in the corresponding crypto coin, as well.Â
No bill, no salary!
Talking about the alleged million-dollar round, it has been reported that Narain had a body of delegates from the Goldman Sachs, who would have coughed up the millions. Moreover, the employees of the company also haven’t received a salary for several months. Also, employees are said to have quit their job because they have not seen any money for months.
In another instance, the gaming startup celebrated its official launch shelling out tens of thousands of euros in Fokker Terminal in The Hague. Having said that, they still not received the bill for the event as well.
Filed bankrupt
A couple of weeks back, the company’s employee, along with their employer, filed for bankruptcy. According to the report, Sam Narain was arrested recently and will be interrogated on Tuesday, which is today. Having said that, the exact reason for the arrest is still unknown. All said and done, the future of Komodore64 is still at stake. We’ll be knowing everything once we get the clarity on Sam’s arrest. Â
Image credits: K64
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