Uncharted has already processed $7,021 in refunds for eligible in-game purchases made after the May 14 launch of Chapter 3. The remaining USDC payouts were allocated based on Karma scores—a proprietary metric factoring in NFT staking, token holdings, and community participation—rather than simple token balances. To manage the exit, the studio locked the FISH token to prevent a last-minute sell-off, restricting its utility strictly to in-game use until the servers go offline at 2 a.m. UTC on June 25.
In section Cryptocurrency
Crypto Studio Uncharted Shuts Down Fishing Frenzy After Failed Market Fit
With a final distribution of $62,845 to its community, developer Uncharted is winding down the Web3 game Fishing Frenzy. The studio confirmed it will cease all operations on June 25, citing an inability to establish a sustainable business model despite a year of testing various product strategies and audience engagement tactics.
Liquidity providers in the FISH/USDC pool have been directed to contact Discord support channels to withdraw their positions. While the studio is closing, it has open-sourced its Karma score dataset for use by other developers and confirmed that Sky Mavis will handle remaining Proof of Distribution rewards. This closure follows a trend of Web3 projects folding due to insufficient economic demand, joining recent exits by Botanix Labs and the yield protocol Carrot.
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