CODE OF JOKER EVOLUTIONS development halted, NFT refund deadline approaching on March 23 - Lessons on market contraction shown by Sega's official Web3 TCG.

Jokers Inc. (hereafter, Jokers) has launched a blockchain game called 'CODE OF JOKER EVOLUTIONS', which has reached its final stage of development.

The company plans to implement a reward system for NFT card purchasers, with the distribution period set for March 23, 2026, at 23:59 (Japan time). As of now, NFT holders must verify their application status as soon as possible.

The Jokers announced on December 22, 2025, that they had suspended the development of the Web3 card game "CODE OF JOKER EVOLUTIONS" that was in development. This title is a work that has received the license of the Sega card game IP "CODE OF JOKER" and has been progressing towards a smartphone release.

During the suspension of development, a previously sold "CODE OF JOKER EVOLUTIONS × Science Enthusiasts Group Gachiman" collaborative NFT card pack is being refunded to buyers. The refund period is from December 22, 2025, 3:00 PM to March 23, 2026, 11:59 PM, for a total of three months.

Users wishing to receive a refund must initiate the refund process through the designated refund portal. If the deadline is exceeded, the eligibility for the refund may be high. If there is a record of purchasing the NFT card pack, it is necessary to confirm the ownership status and application status.

Purchasing NFTs from the Web3 game has many costs associated with wallets and market prices, and there are also cases where buyers forget their own transaction details. If the wallet contents are confirmed and the corresponding NFTs are missing, the application before the deadline may be invalid.

In order to maintain the NFT without submitting a refund request, Jokers is making a statement regarding the situation.

Regarding the NFT card pack and the NFT card for the opening ceremony, they are conducting research on how to utilize these in a way that aligns with the 'Scientific Research Team Gatchaman TCG Card' and how they can be used in different game formats.

However, the specific usage methods and implementation timelines are not publicly disclosed at this time.

If you want to continue holding the NFT without releasing it, the potential for future utility is still uncertain, and it will be a decision based on the current situation. Whether to take a refund or to continue holding it is a matter to be decided after observing the upcoming content and the value movement of NFTs, which may not be easy to determine on your own.

The recent incident highlights the weaknesses of IP license-based Web3 games, which can be understood even from the case that has come to light.

"CODE OF JOKER EVOLUTIONS" has been developed as a licensed product utilizing Sega's IP, and it has been advancing development as a digital trading card game that incorporates ownership certificates and user engagement.

However, the company has decided to suspend development due to the changes in the "WEB3 game market environment."

In such an IP license-based Web3 game, there are ongoing issues related to the underlying construction.

If the game's main body starts to decline, the value of NFTs purchased in advance for use within the game will significantly drop. Even in this case, the NFT card packs are being sold, and a refund policy has been established for later returns.

In the case of IP licensing-type games, the agreements between IP holders and development companies significantly influence the fate of projects. In the Web3 game space, especially, NFT sales are often prioritized, and the existence of user-generated content before the game itself is a problematic structure.

The Web3 game market is a sector that is influenced by the dynamics of the supply and demand of digital assets and regulations. The 'transformation of the market environment' discussed this time is a problem directly related to the design of token economics and financial adjustments, and there are also many projects that have encountered issues.

Currently, with the deadline for the delivery of funds approaching, NFT holders should organize what needs to be confirmed.

• Confirm the purchase history of the NFT card
• Verify if the corresponding NFT is still within the wallet
• In cases where a refund is desired, please request through the dedicated portal
• The refund deadline is March 23, 2026, 23:25:59

Owning an NFT does not automatically generate income. If you don't actively engage, you won't start earning, so the user with a strong motivation should act quickly.

The topic of this time is about revising the structure of IP license type Web3 games and the issues that have arisen. The model that sells NFTs in advance of the game's release has become a significant issue, especially when it comes to user protection after the development has been halted.

The response to refunds is generally based on a certain rescue strategy, but if the management of the deadline and the application process does not move on its own, nothing will start.

In the future Web3 games, including the timing of NFT sales and the mutual use of assets, the transparency of risk management will likely be required beyond this point.

https://prtimes.jp/main/html/rd/p/000000004.000159049.html https://www.famitsu.com/article/202512/61529 https://www.4gamer.net/games/891/G089160/20251222036/ https://jokersinc.com/154/