Web3 rewards protocol Genome considers ceasing operations, still exploring possibilities for funding or acquisition

Foresight News reported that the Web3 gaming protocol Genome released a community announcement on March 11, stating that the project is currently in the final stage of evaluating whether it can continue operations. Due to the overall bearish market sentiment and the cooling of the InfoFi sector, the project is highly likely to be terminated, and has never issued a token.

Genome raised approximately $600,000 through NFT sales and public fundraising over about 8 to 10 months. Together with around $500,000 contributed by the core team and deferred salaries, the total capital invested amounts to about $950,000 to $1 million. The team stated that they are still exploring possibilities for financing, acquisition, or cooperation, and promised to maintain transparent communication.