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Hello everyone,
we are writing this post after a long break. Our original plan was to lead up to the launch of the DRKVRS token on Monad. Unfortunately, that plan did not succeed. We learned, with some delay, that Monad Foundation is not supporting external projects, despite their earlier intentions.
We were put in a position where we had to observe the Monad launch closely. Immediately after the launch, it became apparent that despite the massive hype, the chain does not actually have a large community. This is well illustrated by the situation with their largest community coin, which only reached a valuation of $1.6M. Furthermore, projects launching on the chain either do not have their own token, or interest in them is negligible.
We are looking closely at this community, but we believe that even the creators of Monad did not expect such a launch, and this is negatively affecting other projects. This led us to the decision not to conduct our TGE on Monad at this time, as there would be zero interest in our project or token. You can all read about the situation surrounding Monad individually to verify this.
Over the last 1.5 years, it has been easy to observe a shift in crypto trends; the market is no longer the hot market of 2022/23. For over a year, there has been stagnation, and while everyone is waiting for a new cycle, there are currently no signs of new trends to trigger it.
On top of this, the investment focus has shifted mainly to AI. This market situation directly impacts fundraising, which is currently extremely difficult, especially for projects like DRKVRS.|
In a market focused on the latest novelties and gimmicks, such as AI or meme projects, it is difficult to generate interest and investment in a pc game token. We know this because we tried to acquire it, even while possessing a working product (a completed part of the game).
As we have written before, there are no real gamers in this market, and crypto remains pure speculation; current market trends only confirm this.
We want to turn this project into something sensible. We have solid foundations, a ready storyline, and a few small spin-offs from the game that are better suited to the current reality. We do not want to close this project, but rather significantly pivot it for the new cycle. We want to take advantage of this to build something new, rather than launching a token just for the sake of launching it, which would result in losses for all of us.
We will provide more details soon.
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