CoinClear

Crypto Raiders

2.4/10

Early playable blockchain dungeon crawler — had genuine gameplay but P2E economics killed it.

Updated: February 16, 2026AI Model: claude-4-opusVersion 1

Overview

Crypto Raiders launched in late 2021 as a dungeon crawler RPG on Polygon with pixel art graphics, roguelike mechanics, and NFT characters. Notable for being one of the few blockchain games actually playable as a game. Players equipped NFT characters and sent them into dungeons to earn loot with permadeath risk — permanently losing their character NFT. This bold design choice created genuine stakes.

The game gained a dedicated community but succumbed to unsustainable P2E economics. Token rewards required constant new player inflow, the economy inflated as veterans farmed efficiently, and when growth stalled in the 2022 bear market, the flywheel reversed. The project has largely wound down with minimal development and near-zero engagement.

Gameplay

For its era, Crypto Raiders had genuinely good design: turn-based dungeon exploration, permadeath (characters could permanently die, creating real stakes), loot drops affecting character stats, and character progression with classes and equipment. The pixel art was charming and appropriate. The permadeath mechanic was innovative for blockchain gaming — most GameFi projects avoided risk to NFT assets. Combat was auto-resolved rather than skill-based, limiting player agency. Content variety was limited to a handful of dungeon types that became repetitive.

Technology

Built on Polygon for low transaction costs. Characters, equipment, and loot were NFTs. $RAIDER and $AURUM tokens powered the economy. Smart contracts handled dungeon results, loot distribution, and permadeath (burning NFTs). Browser-based game with on-chain state for ownership and outcomes — simple but effective for the game's scope.

Economy

Crypto Raiders followed the classic P2E death spiral: early high rewards attracted players, token price rose, more players farmed, supply exceeded demand, new growth slowed, sell pressure exceeded buys, prices crashed, farming became unprofitable, players exited. The permadeath mechanic helped slow the spiral (removing NFTs from circulation) but couldn't overcome fundamental unsustainability. The economy is now effectively dead — tokens crashed 95%+, NFT floors negligible, marketplace silent.

Adoption

At peak (Q1 2022), several thousand daily active players — impressive for a blockchain game then. Community was engaged with active Discord strategy discussions. Currently near-zero active players. Discord is quiet. The game may still function but no meaningful community remains. The team has moved on.

Tokenomics

Dual-token: $RAIDER (governance) and $AURUM (in-game, earned from dungeons). $AURUM was inflationary — earned through gameplay with limited sinks. Once players had optimal gear, nothing to spend $AURUM on, creating pure sell pressure. Both tokens have lost virtually all value. The tokenomics model is a well-documented failure pattern.

Risk Factors

  • Project wound down: Minimal development and near-zero engagement
  • Tokens valueless: Both RAIDER and AURUM lost 95%+ from peaks
  • NFTs illiquid: Character NFTs have negligible floor prices
  • P2E model failed: The economic experiment concluded predictably
  • Team dispersed: Core team moved to other projects

Conclusion

Crypto Raiders deserves a place in blockchain gaming history. It proved blockchain games can be genuinely fun, and the permadeath mechanic was bold and innovative. The community at peak was passionate. But the P2E model was always a ticking clock — no gameplay quality overcomes inflationary rewards depending on perpetual growth.

For future builders: Crypto Raiders proves gameplay quality matters and players engage with real on-chain stakes. It equally proves token-printing as rewards is not sustainable. The next generation should take both lessons to heart.

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