On August 21, NFT content distribution platform XCAD Network announced it will gradually cease operations. The project team stated that the company currently has no remaining funds, and maintaining the token's listing on trading platforms has become a 'losing battle.' Existing products and services will no longer be maintained. XCAD Network mentioned that it has been in operation for about 5 years, making it one of the few projects to sustain operations for years without achieving a Tier 1 (T1) exchange listing. As retail investors gradually exit the crypto market, fan tokens have failed to achieve the expected growth. The project team had previously attempted to pivot to the AI influencer sector but ultimately did not succeed. They stated that there are currently insufficient funds to continue operations and are considering making the project code public for interested developers to run independently. However, this does not mean the company will continue operations, nor is it a restart or relaunch of the project. XCAD Network emphasized: 'This is not a restart.'
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XCAD Network Announces Closure: Funds Exhausted, Products and Services to Cease Maintenance
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