Good day all,
There has been an uncharacteristic gap in communication over the past weeks and I would like to formally address that with you all now. Lately the owners have been going over options to extend the project’s life cycle via securing external funding. This is a key to have in the world of crypto where 90% gains and drops are commonplace.
For some time now the project has been funded internally at the owners level as well as being very strategic in seling GAME into the market when we feel it is possible without overly impacting it in a negative fashion. While this has been working it led to being in a steady state of operations yet hindered our ability to scale the operation up which is critical.
The owners have looked at several proposals however the most interesting ones did not ultimately align with our values. With the greater crypto markets beginning to experience dramatic fluctuations, this make it so our current funding strategy doesn’t meet the level of funding needed to increase investment in development needed to hit roadmap milestones.
Due to internal financing challenges and the overall state of the crypto market, we have made the decision to put the project on hiatus for now. The goal in doing this is to find long-term, sustainable funding that allows us to grow to the size required to fulfill our roadmap and be competitive in the growing Mateverse and NFT space.
What this means is effective today, all active development on the project is on hold until the company’s conditions improve. We are not fire selling the company or abandoning it as we have spent countless hours and funds into building this up after it was transitioned to Ethereum in the summer of 2020. Some key pieces of information:
– Genesis.game portal will remain up and staking will continue
– Mining claims will continue to earn GENESIS and can be sold back for GAME at any time
– Development has progressed until this week with the LAND sale portal fleshed out (buy / sell / land traits) along with our first demo World
– The company has invested greatly into the IP library we have and are not looking to fire sell GAME
– We are open to proposals from the community and investors that help us return with long-term, sustainable funding and thus growth. Only long-term viable methods of growing both tokens prices will be considered. Suggestions that add value through community activities are strongly encouraged.
– The social channels will be staying open as we plan to revive things once the proper conditions are in place. The consolidation of discord channels will take place and there will be a slower response time to questions with no formal staffing for the time being.
– Block Brawlers will continue on and GAME can be used to procure $BRAWL tokens
This is in-part why the delay in further mining claim sales or the commencement of our LAND sale. Without the guarantee of being able to flourish during this down period in the markets we did not want to conduct any further sales. The door is still open for us to return and continue on all of the work we have undertaken once conditions improve; however it is important to note that we are unable to provide an accurate future date when this may transpire.
Earlier this week the owners delivered the difficult news to team members. We want you to know the team has been fiercely advocating for the community and driving for release of mining claims and land sales while owners were evaluating strategic options. Even after receiving news of layoffs, team members kept the community top of mind. We’re fortunate to work with such a talented group of professionals who genuinely care about each other and the members of the community. (And if you’re tempted to recruit any of them, we’re happy to provide strong recommendations!)
I can fully appreciate that this is tough news to hear given the state of crypto plus the loyalty shown to this project over time. As a team we have been able to do a lot with very little however we must eventually evolve past that model to have long term success and thus the step back to insure we can secure that before moving forward again.
We thank you for your support, dedication and understanding as we make this challenging transition and hope to be able to return with the required pieces to enjoy long-term success for GAME and GENESIS.
-Jason Cassidy
