Wolf Game NFT is the most popular cryptocurrency right now, with a market cap of $80,000 Ethereum.
It is the most recent play-to-earn NFT game to make waves in the Metaverse.
On OpenSea, the project's trade volume has already hit 12,300 ETH.
Despite many smart contract flaws, the game's most valuable NFTs are fetching upwards for around $80,000. Following Wolf Game's meteoric rise, a slew of fork projects aimed at replicating its success has sprung up.
Wolf Game NFT
NFT collectors have moved on to trading sheep and wolves in the Metaverse after trading digital pebbles and cats.
According to Bezinga, Wolf Game NFT, a new initiative that debuted on Thursday, November 18, has rapidly become a hit among the NFT community.
It presently has the second-highest volume on OpenSea, after only Bored Ape Yacht Club with over 12,300 ETH traded.
NFTs and DeFi are combined with play-to-earn and game theory dynamics in this game. Players can acquire digital sheep, which can be bet to gain the WOOL in-game coin.
Digital wolves, on the other hand, can kidnap sheep and earn WOOL as a tax.
The game's characters can be used to breed more NFTs, similar to other popular play-to-earn games like Axie Infinity.
Alhough the whole game won't be released until early 2022, it had a "stealth debut" last week, with 10,000 NFTs produced in less than an hour.
Sheep, originally priced at 0.06942 ETH, are currently selling for as much as 7.75 ETH, or almost $30,000.
On the other hand, Wolves are more expensive because they can be used to steal sheep in the game. At the time of publication, several rare wolves had already sold for between $75,000 and $85,000.
Wolf Game's Edge Smart Contract Exploits
As reported by Crypto Briefing, the game's rapid rise was undoubtedly aided by the support it received from a number of NFT influencers.
Beanie, a well-known collector, has been promoting the game actively on Twitter in recent days, while COLE, the co-founder of Pudgy Penguins, claims to have minted a collection of wolves and lambs worth over $500,000.
Gary Vaynerchuk, who has been engaged in the NFT market, stated that he bought a Gen0 Alpha 7 Wolf, one of Wolf Game's rarest NFTs, over the game's Discord channel.
Vaynerchuk's friend, FaZe Banks, with a 2.8 million-follower Twitter account, has also said he's been observing the project on his official account.
In a tweet published on Sunday, November 21, he said, "Gm to those playing games on the blockchain @wolfdotgame."
Smart Contract Problems With The NFT Game
In its initial few days, the NFT game Wolf Game has also had to overcome a number of significant obstacles.
Players were reportedly able to guarantee that they would mint wolves, the more expensive NFTs, rather than sheep, because of a flaw in the smart contract's design, leading The Shepherd to amend the rules of the game.
However, a new problem was revealed by Twitter user @notstoops, which allowed players to claim 6 million WOOL tokens instead of the required 20,000 while unstacking their sheep NFTs.
After notstoops raised the issue, the Shepherd confirmed that they had suspended minting on Saturday, November 20, and then paused other aspects of the game.
Nevertheless, the Shepherd guaranteed they will prioritize fixing the issue.
Honesty is an important part of my work. @not__stoops is 100% correct. He has found a vulnerability that puts WOOL creation and unstaking at risk.— Wolf Game (@wolfdotgame) November 22, 2021
In aiming to revolutionize NFT gaming, my #1 priority is to fix this. Here's the action plan 👇