Blockchain game Genome reveals it is facing closure due to market changes; the team is seeking options to continue operating.

ChainCatcher news: the blockchain gaming platform Genome has released an announcement stating that, due to changes in market sentiment, the downturn of the InfoFi sector, and changes in external conditions, the project is facing closure, and the team is evaluating whether it can continue to move forward.

The announcement discloses that over the past 8-10 months, Genome raised approximately $600,000 in total through NFT sales and public fundraising, while core team members personally invested about $500,000, and other members chose to delay receiving salaries in exchange for token allocations, resulting in total funding of approximately $950,000 to $1,000,000.

During this period, the team completed the development of multiple core products and infrastructure, including the Splice platform; however, the project could not be sustained due to changes to the X API. The announcement sets out the team structure and monthly costs in detail, covering engineering roles such as front-end, back-end, smart contracts, and machine learning, as well as functions including product, operations, and design.

Operational expenses include cloud infrastructure, development tools, third-party APIs, and more. The funds initially raised were stored in exchange wallets and later used for development, infrastructure, and operational expenditures. The team said it is exploring possible financing, acquisitions, or collaborations, but there are currently no definitive outcomes, and the project has not issued any tokens.