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Sombra Community,
It is with heavy hearts and after significant reflection that we've decided to cease operations at Sombra Network. We understand this news may be frustrating or confusing and wish to provide clarity around this difficult decision.
Over the past four years, we have dedicated immense effort to make Sombra Network a self-sustaining and successful project. Although we created an impressive NFT marketplace and beautiful NFTs, these did not generate sufficient revenue to sustain game development. We also encountered issues with our developers, the misue of in progress game code being offered for sale on the epic games store, as well as technical and marketing setbacks. The global meltdown of the VFX industry also was a large contributor to the inability of the larger organization to continue funding the game.
Additionally, personal circumstances have significantly impacted one of our key leader's ability to run the project. His son has been diagnosed with a serious medical condition requiring considerable care, compelling him to step away to focus on him over all else.
Despite the community's gracious support and approval to use available liquidity to explore new directions, extensive research and testing over the past two months has shown that pursuing new initiatives would not be financially feasible or responsible. We feel strongly about returning the remaining liquidity funds to the community vs continuing development based on the feasibility of a reboot.
📅 Our Immediate Plan 📅
▫️We are currently building an exchange mechanism to enable users to directly exchange their SMBR tokens for ETH and BNB at a fixed, fair rate. This should be done this week.
▫️Users will have a 1-month period to complete this exchange without any taxes or fees beyond gas.
▫️A smaller portion of the liquidity will be set aside for NFT holders who wish to exchange their NFTs for a partial refund in the same capacity.
▫️After this one-month period, remaining funds will be used to address outstanding project debts and operational costs.
The exchange protocol is actively being developed and is expected to be ready within approximately 4-7 days. Specific details, including dates, exchange rates and instructions for process will be clearly communicated through Discord, X, and our website.
We deeply regret that the exchange rate may not be as high as we all would hope, as it is determined by the available liquidity and current market conditions. However, our goal is to provide a transparent, fair, and straightforward process.
From the bottom of our hearts, we thank each and every one of you who supported Sombra Network throughout this incredible four-year journey. It has been an honor to build and grow alongside such a passionate and dedicated community. We apologize for the final outcome. We are deeply saddened by the need to shut down. Your support, patience, and enthusiasm have been invaluable.
We understand the emotional impact of this news and remain available through this transition.
Should you have questions or need assistance, please reach out to us on Discord, X, or via email at Accounts@sombranetwork.io
With heartfelt gratitude,
The Sombra Network Team
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