Chaingame Genome revealed that it is facing shutdown due to market changes, and the team is looking for the possibility of survival

Comparing news, the online gaming platform Genome issued an announcement stating that the project is facing closure due to changes in market sentiment, the decline of the InfoFi circuit, and changes in external conditions, and the team is evaluating whether it can continue to advance.

The announcement revealed that in the past 8-10 months, Genome raised a total of about 600,000 US dollars through NFT sales and public fundraising, while individual core team members invested about 500,000 US dollars, and other members chose to delay receiving salaries in exchange for token distribution, with a total investment of about 95-1 million US dollars.

The team completed development of several core products and infrastructure during this time, including the Splice platform, but the project was unsustainable due to X API changes. The announcement details the team composition and monthly costs, covering engineering positions such as front-end, back-end, smart contracts, machine learning, etc., as well as functions such as product, operation, and design.

Operating costs include cloud infrastructure, development tools, third-party APIs, etc. The funds raised are initially stored in exchange wallets and later used for development, infrastructure, and operating expenses. The team said it is exploring the possibility of financing, acquisition or cooperation, but there are currently no definitive results, and no tokens have been issued for the project.