Any person (or bot) that demands to know when TGE is, while also calling the project dead, or calls the project a scam will be instantly banned.
There won’t be any warnings or grey area.
It is a historically tough time to build in crypto right now, I am doing my best to get a great long term result and anyone who isn’t onboard can watch silently from the sidelines.
Hi everyone
I have an unfortunate update from our VC conversations.
Since August, we have been finalizing a $2m investment from a new European VC fund. The new fund is backed by a major crypto chain.
We had signed a term sheet and prepared all the documentation, however late last week when we met in person, they informed me they are not able to proceed with the investment.
There are a couple of reasons why:
a) The state of the markets has caused them to scale back their investments. The chain's token is ~70% off where it was in August last year.
b) There was some disagreement on some key terms in the agreements. One of those was the ability of the project to launch a token on a major network.
As you can imagine, this is very disappointing because months of effort has gone into getting this deal on the table and also pivoting our tech to work within their ecosystem.
We're now back at the drawing board, and I'm not sure what happens next, but wanted to keep @everyone updated.
- Ben