PANews|Mar 11, 2026 02:40
[Chain Game Genome Discloses Closure Due to Market Changes, Team Seeking Continuation Possibilities]
The chain game protocol Genome has issued an announcement stating that due to changes in market sentiment, the decline of the InfoFi sector, and shifts in external conditions, the project is facing closure. The team is currently evaluating whether it can continue moving forward.
The announcement revealed that over the past 8-10 months, Genome raised approximately $600,000 through NFT sales and public fundraising, while core team members personally invested around $500,000. Additionally, some team members opted to delay receiving their salaries in exchange for token allocations, bringing the total investment to approximately $950,000-$1,000,000.
During this period, the team completed the development of several core products and infrastructure, including the Splice platform. However, changes to the X API have rendered the project unsustainable. The announcement detailed the team composition and monthly costs, covering engineering roles such as frontend, backend, smart contracts, and machine learning, as well as functions like product, operations, and design. Operating costs include cloud infrastructure, development tools, third-party APIs, and more.
The funds raised were initially stored in exchange wallets and later used for development, infrastructure, and operational expenses. The team stated that they are exploring possibilities for financing, acquisition, or collaboration, but no definitive outcomes have been reached yet. The project has not issued any tokens.
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