Blockchain gaming protocol Genome has announced it is facing potential closure due to adverse market conditions and a decline in the InfoFi sector. Over the past 8-10 months, Genome raised approximately $600,000 through NFT sales and public fundraising, with core team members contributing an additional $500,000. Despite completing key developments, including the Splice platform, the project struggles to continue due to changes in the X API.
The team is currently evaluating options to sustain operations, including potential financing, acquisitions, or partnerships, though no concrete outcomes have been reached. Genome's operational costs encompass engineering, product development, and infrastructure expenses, with funds initially held in exchange wallets before being allocated to these areas. The project has not yet issued any tokens.
Blockchain Game Genome Faces Closure Amid Market Shifts
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