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 continuing to maintain the token's listing on trading platforms has become a 'losing battle.' Existing products and services will no longer be maintained. XCAD Network noted that the company has been operating for about five years and is one of the few projects that have sustained operations for years without achieving a Tier 1 (T1) 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 mentioned that there are currently insufficient funds to continue company 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 project restart or relaunch. XCAD Network stated, 'This is not a restart.'
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XCAD Network Announces Closure: Funds Depleted, Products and Services to Cease Maintenance
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