This article compiles the “2023 Death Project List” by RootData, which includes about 120 projects that have declared bankruptcy, ceased operations, or had websites that were unable to function properly in 2023.
In the lead-up to the bull market in late 2023, many projects announced their closure due to financial and strategic issues. Some of these projects, such as Prime Trust, Gomu, GRO Protocol, Stelo, Yield Protocol, Multichain, Clockwork, and Wyre, had received support from top venture capital institutions.
The “2023 Death Project List” by RootData includes approximately 120 projects that declared bankruptcy, ceased operations, or had websites that were unable to function properly in 2023. The cumulative financing amount of these projects reached 940 million dollars.
The reasons for the demise of these projects can be roughly summarized into five points, with insufficient funds being the most significant and direct cause. Other reasons include a lack of market fit for the products, stricter regulatory policies, cyber attacks, and strategic adjustments by parent companies.
The detailed list of the deceased projects is as follows:
– Prime Trust: Provides token and fiat custody, fund processing, anti-money laundering and KYC compliance, and trading technology services. On August 14, 2023, Prime Trust filed for Chapter 11 bankruptcy in the United States, with debts amounting to 500 million dollars.
– Bytom: A smart contract platform based on the PoS+BBFT consensus algorithm, integrating multiple asset protocols for asset intelligence on-chain. On November 24, 2023, BytomDAO announced the suspension of all deposit functions for BMC, and users were advised to withdraw any BMC-related assets. Bytom will enter the third stage: fully embracing AI from the public chain track and transforming into a tech-friendly project.
– Sismo: A modular proof protocol that provides portable reputation and aggregate issuance ZK badges.
– Tomb Chain: A Layer2 network of Fantom Opera that adopts Optimistic Rollup.
– Kotal: Building open-source tools and frameworks for managing blockchain infrastructure and the lifecycle of dApps from deployment, integration, security, logging, to monitoring.
– Gomu: A Web3 developer tool that provides APIs and SDKs for users to easily and securely build native Web3 applications and experiences. On October 12, 2022, Gomu completed a seed round financing of 5 million dollars, with participation from Coinbase Ventures, DeFiance Capital, and others.
– CNHC Group: CNHC Group is the issuer of CNHC stablecoin, which is pegged to offshore RMB at a 1:1 ratio. CNHC stablecoin was launched in 2021 for scenarios such as transfers and cross-border trade settlement. On March 15, 2023, CNHC Group completed a Series A1 financing of 10 million dollars. On May 31, 2023, multiple sources revealed that CNHC Group’s Shanghai office was sealed by judicial authorities, and the team had been taken away for detention.
– Linen: A self-custody wallet supported by Gnosis Safe’s technology, providing protection with three keys. On September 20, 2019, Linen completed financing with participation from Polychain, Coinbase Ventures, HashKey Capital, and Wyre. On October 31, 2023, Linen announced the cessation of operations, with the remaining funds to be returned to investors.
– LBRY: A protocol for accessing and releasing digital content in a decentralized marketplace. On October 20, 2023, LBRY announced the closure of LBRY Inc. due to insurmountable debt owed to the SEC, its legal team, and private debtors. The LBRY network remains unaffected.
– Boring Protocol: A decentralized virtual private network (VPN) and bandwidth marketplace that provides access to a globally distributed and growing network.
– Nitro Network: Builds a decentralized private communications network (PCN) using LoRaWAN devices, allowing users’ gadgets to communicate using 3G/4G/5G technologies. On February 26, 2018, Nitro Network completed financing of 40 million dollars, with participation from FBG Capital, Kenetic Capital, and others.
– Slashauth: A Web3 developer platform that provides login functionality, role-based access control, and data storage for any Web3-enabled application.
– Clockwork: A decentralized automation network for Solana that allows developers to schedule recurring tasks and automate on-chain workflows. On August 30, 2022, Clockwork completed a seed round financing of 4 million dollars, led by Multicoin Capital and Asymmetric. On August 28, 2023, former Clockwork employee Nick stated that due to limited business prospects and opportunity costs, the Clockwork development team and himself decided to discontinue protocol development.
– Outlet Finance: Empowers personal finance applications built for everyone with DeFi. Outlet investors include Big Brain Holdings.
– Nomics: An API-first cryptocurrency data company that provides professional-grade market data APIs for institutional crypto investors and exchanges. On December 18, 2018, Nomics completed financing of 3 million dollars, with participation from DCG, Polymath, Tokensoft, Coinbase Ventures, and others.
– Numio: An Ethereum-based mobile payment app that supports zkRollups on Google Play for instant and low-cost transfers. On July 13, 2021, Numio completed a seed round financing of 1.25 million dollars, led by HashKey Capital, with participation from LD Capital, ZMT Capital, and others. On February 7, 2023, Numio announced the cessation of operations due to the inability to raise further funds.
– Hotbit: A cryptocurrency exchange platform. On May 22, 2023, Hotbit announced the cessation of operations and requested all users to withdraw their remaining assets. Reasons for the closure included deteriorating operational conditions with continuous outflow of user funds from CEX, changes in the cryptocurrency industry trends that were unlikely to meet long-term trends, and various issues such as frequent network attacks and malicious exploitation of project defects.
– Ankex: A new type of hybrid cryptocurrency exchange that uses multi-party computation (MPC) for account systems to split and distribute customers’ private keys across data centers.
– Txbit: A Dutch cryptocurrency exchange established in 2016. In August 2023, the exchange announced permanent closure.
– Cabital: A cryptocurrency asset yield management platform that offers three main currencies: BTC/ETH/USDT. Cabital focuses on stablecoins, BTC, ETH, and other cryptocurrencies for fixed deposit returns, avoiding high risks associated with frequent trading. On September 2, 2021, Cabital completed a seed round financing of 4 million dollars, with participation from SIG, Dragonfly, and GSRV.
– Bittrex: A cryptocurrency trading platform established in 2014. Bittrex ceased operations on December 4, 2023, and all trading activities were disabled.
– BKEX: A cryptocurrency trading platform that supports over 1,000 cryptocurrency trading pairs and provides leverage from 1x to 100x.
– CoinLoan: A lending platform collateralized by cryptocurrency assets, aiming to fulfill needs that traditional credit systems cannot meet. On April 25, CoinLoan announced the suspension of all user withdrawals and operations.
– Pillow: A digital asset management application that helps users store, spend, and invest in cryptocurrencies. Pillow completed two rounds of financing in 2022, raising a total of 21 million dollars. On June 23, 2023, Pillow announced the cessation of services due to regulatory uncertainties, with plans to return the remaining funds to investors.
– Wyre: A cryptocurrency ecosystem’s regulated cryptocurrency and payment infrastructure company founded in 2013, with a history of five funding rounds. On June 17, 2023, Wyre announced a gradual shutdown and stated that the decision was not due to any regulatory directives.
– Earnity: Establishes a thoughtfully curated financial marketplace for tokens, enabling everyone to learn, save, and earn in a simple and intuitive way.
– Hopex: Aims to create a secure, fair, and reliable digital currency derivatives trading platform. On February 1, 2023, Hopex announced the cessation of operations due to significant business adjustments.
– LocalBitcoins: A P2P cryptocurrency trading platform. On February 9, 2023, LocalBitcoins announced the cessation of operations.
– Lazerpay: A blockchain-driven payment solution that enables businesses to accept payments from anyone, anywhere in the world using stablecoins. On April 13, 2023, Lazerpay ceased operations due to the inability to raise more funds.
– TradeBlock: An API-centric end-to-end platform that simplifies the workflow of institutional crypto asset trading through purpose-built solutions for pre-trade, trade execution, post-trade, and reporting. On July 16, 2014, TradeBlock completed financing of 2.8 million dollars, led by a16z Crypto, with participation from DCG, FinTech Collective, and DCVC.
This is the comprehensive list of the projects that have ceased operations or declared bankruptcy in 2023. The reasons behind their demise vary, but insufficient funds remain the most significant factor.In January 2021, TradeBlock was acquired by CoinDesk and ceased operations on May 25, 2023.
Galois Capital is a cryptocurrency hedge fund specializing in over-the-counter trading and algorithmic market making. On November 12, 2022, Galois Capital stated in a letter to investors that nearly half of its assets (approximately $100 million) were trapped on the FTX platform and unable to be withdrawn.
On February 20, 2023, Galois Capital decided to halt all trading, close all positions, and return 90% of the funds not trapped on FTX to clients, with the remaining 10% temporarily suspended.
Coin Cloud is a two-way digital currency machine network that provides buying and selling services for Bitcoin and other digital currencies. On February 8, 2023, Coin Cloud announced debts of $100 million to $500 million and will cease operations.
Paxful is a peer-to-peer cryptocurrency exchange. On April 4, 2023, Paxful announced it will stop operating due to two co-founders’ dispute, allegations of fund misappropriation and money laundering.
Silvergate is a U.S. Federal Reserve member bank founded in 1988. In 2013, Bitcoin first surpassed the $1,000 mark. Silvergate recognized the business opportunity and became a crypto-friendly bank.
In November 2022, FTX’s collapse became a significant turning point for Silvergate’s development. On March 9, 2023, Silvergate announced it will stop operating.
Further reading:
Silvergate Bank bankruptcy mess, “liquidation plan within 10 days,” Federal Reserve scolds: Dragged down by FTX’s trust!
Multichain is a cross-chain router protocol that meets the specific needs of different blockchains to communicate with each other. Multichain aims to be the ultimate router for Web3.
On December 21, 2021, Multichain raised $60 million in funding with a valuation of $1.2 billion, led by Binance Labs. On July 14, 2023, the Multichain team announced that its CEO, Zhao Jun, was taken away by the police from his home on May 12 of this year and has since lost contact with the team. The funds were transferred by the founder’s relatives, forcing the team to cease operations.
Further reading:
Multichain ceases operations! CEO Zhao Jun arrested by Chinese police, cold wallets and mnemonics confiscated
Minerva is a derivative exchange based on Optimism, similar to GMX, supported by a unique multi-asset pool that earns liquidity provider fees from market making, swap fees, and leveraged trading.
Themis is a decentralized lending protocol that allows users to collateralize their liquidity positions to borrow stablecoins and blue-chip assets.
On November 9, 2021, Themis raised $2 million in seed funding, with participation from DAOMaker, NFX, LD Capital, Chain Financial, 0xBilly, and others.
DeZy simplifies decentralized finance in a secure and user-friendly manner, enabling users to achieve meaningful savings, income growth, and wealth accumulation.
On January 3, 2022, DeZy raised $2.2 million in pre-Series A funding, led by Leo Capital, with participation from DeFiance Capital and others. On November 17, 2023, DeZy announced it will cease operations.
HIPO is a native liquidity protocol on Arbitrum that supports derivative tokens as collateral. It provides lending with fixed terms and rates.
GRO Protocol is a stablecoin yield aggregator. Its products include PWRD stablecoins with deposit protection and yield-bearing Vaults with leveraged stablecoin yield.
On March 30, 2021, GRO Protocol raised $7.1 million in seed funding, led by Galaxy Digital and Framework Ventures, with participation from Variant Fund, Three Arrows Capital, and others. On September 20, 2023, GRO Protocol announced it will cease operations.
xToken is building a capital market and liquidity management platform to serve projects with on-chain businesses.
On May 12, 2021, xToken suffered a hacker attack and lost $24 million. Later that year, it raised $2 million in funding, with participation from Origin Capital, Lattice Capital, and others. On September 13, 2023, xToken announced it will cease operations.
Many Exchange is a cross-chain decentralized exchange supported by Polkadot.
SkyLaunch is a multi-chain IDO platform that connects projects with networks for tools, finance, and support.
On October 28, 2021, SkyLaunch raised $1.4 million in funding, with participation from AU21 Capital, Waterdrip Capital, GSR, X21 Digital, and others.
Housecat is an image trading protocol based on Polygon that allows anyone to sync and replicate wallet addresses, positions, and transactions on the Polygon blockchain.
On February 16, 2022, Housecat raised $3.5 million in funding, with participation from BlueYard Capital, Inflection, Notation Capital, and others. On March 13, 2023, Housecat announced it will cease operations.
Grim Finance is an intelligent yield optimizer platform that allows users to automatically harvest and reinvest in Smart Grim Vaults for compounding effects.
On December 18, 2021, Grim Finance suffered a hacker attack and lost $30 million.
Yield Protocol is a decentralized lending protocol that introduces fixed-term, fixed-rate loans to decentralized finance.
On June 23, 2021, Yield Protocol raised $10 million in Series A funding, led by Paradigm, with participation from Framework Ventures, CMS Holdings, Alliance DAO, Variant Fund, and others. On October 3, 2023, Yield Protocol announced it will cease operations.
Fuji Finance is a lending aggregator that optimizes users’ costs in DeFi by automatically refinancing loans across different markets.
On April 27, 2021, Fuji Finance raised $1.25 million in seed funding with a valuation of $12 million. On September 21, 2023, Fuji Finance announced it will close the protocol and cease operations. Users must withdraw their funds through the Fuji interface before December 31, 2023, and from 2024 onwards, users will need to interact directly with smart contracts.
Arable Protocol is a single-yield and trading platform for synthetic assets, meeting the demand for multi-chain single-product communication on a single platform.
Warp Finance allows liquidity providers to use unused LP tokens as collateral for borrowing. On December 18, 2020, Warp Finance suffered a hacker attack and lost $7.8 million.
Hundred Finance is a multi-chain lending protocol that integrates voting escrow tokenomics in cross-chain governance.
On April 15, 2023, Hundred Finance suffered a hacker attack and lost $7 million. On August 10, Hundred Finance stopped protocol execution based on the community voting result of the “April Attack Incident Resolution Plan.” The proposal also included allocating treasury assets to victims, conducting public auctions for held NFTs, and distributing funds.
Saddle is a decentralized automated market maker (AMM) optimized for low-slippage trading of stable value cryptocurrencies.
Saddle Finance raised a total of $11.8 million in two funding rounds, with participation from Framework Ventures, Polychain, Electric Capital, Coinbase Ventures, Dragonfly, and others. On August 9, 2023, Saddle Finance announced it will cease operations and distribute liquidation funds to investors. Founder Sunil Srivatsa stated that the previous Curve hack reminded the Saddle team of the ever-present vulnerability threats.
AutoFarm is an aggregator protocol focused on providing automatic compounding yields to DeFi users, saving on gas costs through smart contract code and yield optimization strategies.
Kannagi is a yield aggregator on the zkSync Era network. Kannagi Finance offers “Vaults” where users can deposit assets. On July 29, 2023, Kannagi Finance experienced a rug pull, and its official Twitter account has been logged out.
Zircon is a DEX platform based on AMM liquidity pools. Unlike other DEXs, Zircon allows users to provide only one asset as liquidity for each pair, rather than being forced to provide both sides. On March 18, Zircon’s Moonriver and BSC deployments were both hacked.
Phezzan is a perpetual contract DEX on zkSync 2.0 that brings retail liquidity to order books. Its founder, Roland, reflects on the experiences and lessons learned from the failure of the Phezzan Protocol, covering topics such as fundraising, team building, community operation, and more.
Enchanter Finance is a community-based DEX on Aptos.
EZ Finance is a leveraged yield farming aggregator based on Aptos and Sui. On January 19, 2023, EZ Finance completed a $210,000 private placement round with a valuation of $10 million.
Geist is a decentralized, non-custodial liquidity market protocol where users can participate as depositors or borrowers.
On July 14, 2023, Geist Finance announced it will cease operations due to Multichain confirming the inability to recover funds.
Algofi is an all-in-one DeFi storefront on Algorand, providing DEX, lending markets, and stablecoins.
On December 1, 2021, Algofi raised $2.8 million in seed funding, led by Pillar VC, USV, Arrington Capital, with participation from Coinbase Ventures, Y Combinator, Jump Crypto, and others. On July 11, 2023, Algofi announced a gradual shutdown, closing all social media accounts except for the Discord channel.
Tonic is an order book trading platform based on NEAR that allows anyone to create markets for assets on NEAR L1 or Aurora.
On April 26, 2022, Tonic raised $5 million in funding, led by Electric Capital and MOVE Capital, with participation from dao5, Framework Ventures, Wintermute, and others.
ARX is a fully decentralized and self-custodied P2P fiat exchange protocol that focuses on user protection mechanisms without moderators or centralized parties. On July 7, 2023, ARX announced it will cease operations.
Papr is an NFT lending protocol supported by Uniswap V3. On February 20, 2023, paprMEME raised $3 million in funding with participation from Coinbase Ventures. In June of the same year, paprMEME announced it will cease operations, discontinuing support for certain interfaces, but Backed Protocol, community NFTs, and paprMEME will continue to exist.
UPFI aims to provide a highly scalable, decentralized algorithmic currency to replace fixed-supply digital assets.
Pizza is a decentralized lending platform based on EOS. On February 16, 2023, Pizza announced it will cease operations due to policy and risk factors.
Vovo Finance is a structured product protocol based on Ethereum Layer 2 that earns yield from Curve Finance and engages in high-leverage trading on the GMX exchange.
On April 12, 2022, Vovo Finance completed a $2 million seed funding round, led by IOSG Ventures, with participation from Matrixport Ventures, Zee Prime Capital, and others. On May 16, 2023, Vovo Finance announced it will cease operations due to declining DeFi yields.
Friktion is an aggregator protocol focused on providing automatic compound yield to individuals, institutional managers, and DAOs.ChainStack Investment Portfolio and Risk Management Platform.
On January 13, 2022, Friktion completed a $5.5 million financing round with participation from DeFiance Capital, Jump Crypto, Delphi Digital, and others. On January 27, 2023, Friktion announced the closure of its frontend website and recommended users to withdraw their assets.
Everlend is a lending aggregator supported by Solana, supporting multiple asset and currency markets. On August 18, 2022, Everlend completed a $2.6 million strategic financing round with participation from GSR, Portico VC, Serum, and others. On February 2, 2023, Everlend announced the cessation of its operations.
Async Art is a Web3 creator platform for innovative artists, musicians, and brands. Its blueprint system creates a template for generative NFTs without the need for code.
On February 18, 2021, Async Art completed a $2 million seed financing round with Lemniscap as the lead investor, and participation from Semantic Ventures, Galaxy Interactive, Collab+Currency, and others. On October 23, 2023, Async Art announced the cessation of its operations.
Versum is an NFT platform and metaverse on the Tezos blockchain, aiming to redefine the art experience in the NFT space. On October 6, 2023, Versum announced the cessation of its operations.
Cardinal is a protocol based on Solana that enables conditional ownership of NFTs, providing power to NFTs through leasing, subscription, staking, tickets, and other means. On July 23, 2022, Cardinal completed a $4.4 million seed financing round with Protagonist and Solana Ventures as lead investors. On June 29, 2023, Cardinal announced the gradual closure of the protocol, attributing the closure to the challenging macro-environment.
Voice is a digital art marketplace for emerging artists, empowering artists from various industries to establish sustainable artistic practices. On March 26, 2020, Voice completed a $15 million financing round with Block.one as the investor. On September 14, 2023, Voice announced the gradual closure of its business due to the continued uncertainty in the cryptocurrency and NFT market.
Glass Protocol is a video NFT platform where users can create, collect, and sell video NFTs. On September 27, 2022, Glass Protocol completed a $5 million seed financing round with TCG Crypto and 1kx as lead investors. On September 9, 2023, Glass announced the termination of its development activities, citing unsustainable demand for video NFTs in the market.
RECUR is the world’s largest brand and IP builder for end-to-end customized experiences, allowing fans to purchase, collect, and resell NFTs. On March 25, 2021, RECUR completed a $5 million seed financing round with Alliance DAO as the lead investor. On September 13, 2021, RECUR completed a $50 million Series A financing round with a valuation of $333 million. On August 19, 2023, RECUR announced the cessation of its operations.
GEN.ART is an online generative art platform on the blockchain, enabling artists to release their artworks to members. On August 12, 2023, GEN.ART announced the closure of its business, with the remaining funds in the project treasury to be distributed to holders of DAO tokens.
Swap.net is an NFT marketplace for professional traders and provides airdrops for NFT traders. On April 21, 2022, Swap.net completed a $1.75 million angel financing round with participation from FBG Capital and Big Brain Holdings.
Formfunction is a digital art marketplace on Solana, launched on the mainnet in January 2022. On March 17, 2022, Formfunction completed a $4.7 million seed financing round with Variant Fund as the lead investor, and participation from Solana Ventures, OpenSea Ventures, and others. On March 15, 2023, Formfunction announced the cessation of its operations.
MetaPoint is an online virtual world built on blockchain technology where players can participate in virtual reality activities such as planting, operating, building, financing, gaming, and entertainment to experience pleasure and receive economic rewards.
Pax.world is an open metaverse platform that provides advanced audio, video, chat features, and avatars with advanced technical specifications.
The Parallel is a decentralized virtual world game similar to The Sandbox, where players can play, create, collect, trade, and earn the platform’s native token PRL and NFTs. On December 15, 2021, The Parallel completed a $4.3 million financing round with Kyber Ventures, Signum Capital, OKX Ventures, and others.
AQUA is a Web3 gaming marketplace that provides content and tools for players to buy, sell, and trade game NFTs. On September 28, 2022, AQUA received a $10 million investment from DIGITAL. On November 17, 2023, AQUA announced the cessation of its operations.
Ascenders combines story-driven open-world elements with action-rich RPG gameplay, allowing players to choose between exploration, combat, and construction through its game modes. On March 8, 2022, Ascenders completed a $6.4 million private financing round with Three Arrows Capital, Ryze Labs, Merit Circle as lead investors, and participation from DeFiance Capital, GuildFi, Momentum 6, Zee Prime Capital, and others. On October 6, 2023, Ascenders announced the cessation of its operations.
DeHorizon is a metaverse game ecosystem that allows players to build, socialize, and enjoy blockchain-based games with friends. On October 11, 2021, DeHorizon completed an $8.5 million Pre-A financing round with Sfermion, Dragonfly, EVG as joint lead investors, and participation from Animoca Brands, YGG, Mechanism Capital, LD Capital, The LAO, Momentum 6, and others.
Starbots is a robot battling NFT game where players can create fantasy robots to compete against other opponents and collect NFT items and tokens. On January 5, 2022, Starbots completed a $2.4 million private financing round with participation from Impossible Finance, Solar Eco Fund, and others.
Nifty’s is a social media platform focused on NFTs, bringing together premium publishers, brands, and creators with collectors, curators, and fan communities. On July 12, 2021, Nifty’s completed a $10 million seed financing round with Polychain, Draper Dragon, Coinbase Ventures, Dapper Labs, Samsung Next, and others. On August 3, 2023, Nifty’s announced the inability to secure the necessary funding for continued development and will gradually wind down its business.
HashLand is a gamefi RPG game that combines DeFi elements with NFT technology. In November 2021, it received investments from Waterdrip Capital, Youbi Capital, Foresight Ventures, and others.
SolChicks is a Solana-based fantasy NFT game where players can use their SolChicks as their characters in a unique game metaverse. On November 1, 2021, SolChicks completed a $20 million financing round with Fundamental Labs, Blocore, GD10 Ventures, KuCoin Labs, Gate Labs, Spartan Group, Shima Capital, and others.
Metroverse is an Ethereum-based land trading NFT strategy game where players can collect, trade, and battle. On February 24, 2023, Metroverse announced the cessation of its operations due to the downturn in the NFT gaming market.
EtherOrcs is a 100% on-chain game and ecosystem where orcs and their allies engage in raids, looting, and traveling. On February 7, 2023, EtherOrcs announced the cessation of its operations due to the uncertainty in the NFT market.
Superdao is an integrated platform for launching, managing, and developing DAOs. On January 27, 2022, Superdao completed a $10.5 million seed financing round with SignalFire as the lead investor, and participation from Soma Capital, Lemniscap, Alliance DAO, Shima Capital, and others. On October 19, 2023, Superdao decided to return the remaining substantial funds to investors and gradually cease operations.
SappChat is a decentralized messaging application that combines with a decentralized bank supported by blockchain and artificial intelligence technology.
AnimalGo is a reward-based pet community application that allows users to communicate and exchange information with their social networks.
Xeenon is a decentralized video platform that enables creators to directly connect with fans while having full control over how their creative works monetize. On September 15, 2023, Xeenon stated on its social platform that the regulatory environment in the United States made it difficult to innovate, and as a result, the team decided to shut down the platform’s operations.
Naetion is a web3 startup focused on building the world’s largest online professional network.
PolkaWorld is a global community for Polkadot, aiming to popularize Polkadot network knowledge and attract blockchain talent. The cessation of PolkaWorld’s operations is the result of a struggle between funding, governance, and community.
Rally is a platform that helps creators and their communities build their independent digital economies. Rally completed two fundraising rounds after going public in 2021, raising a total of $72 million. On January 31, 2023, Rally announced the cessation of its operations.
Stelo is a web3 security company, offering browser extension tools and APIs to protect users from signing malicious transactions and signatures. On February 16, 2023, Stelo completed a $6 million seed financing round with a16z Crypto as the lead investor, and participation from OpenSea Ventures, First Round Capital, and others. On October 17, 2023, Stelo announced the cessation of its operations, summarizing three failure reasons.
Magneto focuses on providing precise customer acquisition and marketing services for Web3 projects, where users can earn rewards by completing tasks.
Return is an innovative climate technology company that provides verifiable and incentivized social climate actions for consumers, businesses, and communities. On November 4, 2022, Return completed a $2.5 million Pre-Seed financing round with Cherry Crypto as the lead investor, and participation from Possible Ventures, Slow Ventures, Not Boring Capital, and others.
Genki is a web 3.0 community gateway platform where projects, channels, users, and validators can connect in a trustless manner. On April 11, 2023, Genki announced the cessation of its operations due to intense market competition.