Blockchain game Genome announces it faces 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 in the InfoFi sector, and shifts in external conditions, the project is facing closure, and the team is assessing whether it can continue to move forward.

According to the announcement, over the past 8-10 months, Genome raised approximately $600,000 through NFT sales and public fundraising. During the same period, core team members personally contributed about $500,000. In addition, some members chose to delay receiving their salaries in exchange for token allocations. The total funding invested amounts to approximately $95-100 万 dollars.

The team completed the development of multiple core products and supporting infrastructure during this time, including the Splice platform. However, the project could not be sustained due to changes to the X API. The announcement provides a detailed breakdown of the team’s composition and monthly costs, covering engineering roles such as front-end, back-end, smart contracts, and machine learning, as well as functional roles including product, operations, and design.

Operating costs include cloud infrastructure, development tools, and third-party APIs, among others. The funds were initially kept in exchange wallets and were later used for development, infrastructure, and operational expenditures. The team said it is exploring potential financing, acquisitions, or partnerships, but there are currently no confirmed results, and the project has not issued tokens.