Blockchain game Genome reveals it is facing closure due to market changes; the team is seeking possibilities for continued operation.

ChainCatcher news, the blockchain gaming platform Genome announced that due to market sentiment changes, the decline of the InfoFi sector, and external condition shifts, the project is facing closure, and the team is evaluating whether it can continue to move forward.

The announcement disclosed that over the past 8-10 months, Genome raised approximately $600k through NFT sales and public fundraising, while core team members personally invested about $500k, and some members chose to delay salary payments in exchange for token allocations, totaling an investment of about $950,000 to $1M.

During this period, the team completed the development of several core products and infrastructure, including the Splice platform, but the project could not continue due to changes in the X API. The announcement detailed the team composition and monthly costs, covering roles in frontend, backend, smart contracts, machine learning, as well as product, operations, and design functions.

Operational costs include cloud infrastructure, development tools, third-party APIs, etc. The initial funds raised were stored in exchange wallets and later used for development, infrastructure, and operational expenses. The team stated that they are exploring financing, acquisition, or partnership possibilities, but no definitive results have been reached yet, and the project has not issued tokens.