Metaverse projects come and go, but every so often, a star emerges… only to disintegrate under scrutiny. Enter Netvrk—a sleek digital world built on Unreal Engine 5, hyped across crypto and VR circles. Yet, beneath the glossy veneer lie enough cracks to sink the Titanic.
🏠 Tiny Team, Big Template
Netvrk is fronted by XMOD Industries, a nine-employee operation run out of a residential house in Sherman Oaks, CA. Their corporate site isn’t custom-coded—it’s an untouched WordPress template. For a “cutting-edge metaverse startup,” that’s a humiliation, not a humblebrag.
🚨 Warning Lights Everywhere
Web browsers frequently flag netvrk.co with security alerts. Many primary links on their site are broken—Discord invites vanish into the void, and the Xsolla download button is dead. If your beta platform can’t keep basic infrastructure working, that’s a huge red flag for anyone considering time—or money—invested.
⚖️ Lawsuit Looming Large
In September 2022, XMOD and co-founders Michael Katseli & Linus Chee sued then-marketing lead Daniel Kennedy, alleging a $564,000 asset heist and fraudulent takeover attempts universalhub.com+7masslawyersweekly.com+7resources.cryptocompare.com+7
The court case revealed Kennedy’s alleged theft and sabotage of social media accounts—minus any hint of internal oversight. It may be overhyped inner drama to some, but the truth is clear: they let chaos fester long enough to risk everything.
🔒 Broken Signup & Closed Beta Crypt-Trap
The launcher is downloadable—but the signup doesn’t work. Valid credentials trigger errors, with no mention of beta restrictions. Instead of openness, users are blindfolded. Even more eyebrow-raising? Virtual land sold only via Ethereum. No Clear list of fiat or stablecoin alternatives. That’s a financial gate.
🎮 All Hype, No Substance
They promote AI NPCs, tokenomics, NFT land, and Unreal Engine 5—yet, users actually report bugs, broken scripts, and performance issues. The devlog itself admits the AI character “Silk” is “buggy”. It’s marketing over craftsmanship, buzzwords over basics.
Crypto and VR forums have lit up with alarm bells. Early testers warn: this could be a honeypot, a rug-pull, or worse.
“Assume that every project posted is a scam/rug/honeypot until proven otherwise”
These are not distant whispers—they’re foundational warnings ignored at your own risk.
🏁 The Bottom Line: Buyer Beware
Netvrk paints gorgeous pictures, but the pixelation tells the truth:
- Amateur web infrastructure
- Security alerts and broken UX
- Legal battles over massive alleged theft
- Closed beta masked as open
- Crypto-only land sales from day one
Is this a visionary platform or a cautionary tale? My verdict: Delay your enthusiasm—investigate the liabilities first.
📣 Dear Netvrk/XMOD Founders
If this lands on your desk, take note: your product is tanking your credibility. You’ve painted a world of possibilities—but users can’t even create accounts, navigate your site, or feel confident in your legal and financial integrity.
Fix your registration pipeline. Resolve those browser warnings. Clarify your legal fallout. Offer payment options beyond ETH. Build trust—or watch your hype evaporate.
✅ For Readers & Metaverse Pioneers
- Don’t trust beta platforms hiding broken links and hidden lawsuits.
- Reject closed-doors games masked as public launches.
- Demand transparency: legal, UX, and financial.
- Avoid locking ETH into untested platforms—especially before alpha access.
Netvrk is burning through buzz while burning trust. Don’t let fancy graphics fool you—the foundation is collapsing. And if Netvrk hopes to live up to its Unreal Engine promises, it’d better start stabilizing now—before its fragile reputation disappears down the blockchain rabbit hole.
Editor’s note: This story represents the views of the author of the story. The author is not affiliated with HackerNoon staff and wrote this story on their own. The HackerNoon editorial team has only verified the story for grammatical accuracy and does not condone/condemn any of the claims contained herein. If you would like us to include your version of events, please email us at [email protected]. #DYOR
