Hello Miners,
Unfortunately, we couldn’t achieve the targets we set in a Project we believed in totally as a team. As we figured, this situation is directly related with the market conditions as the P2E Games cannot provide sufficient level of profits. Such low profitability ended in insufficient funds generated in the IDO.
Based on our tokenomics forecasts of the MOTS, sustainability of the project and the game to become evolving in its own ecosystem, we needed to add 150.000 USD liquidity. The funds raised at the IDO was around 48.000 USD. Such amount would be sufficient to start the project even in a bear market as the MOTS Game’s development phase has already been completed by the investments of our team. However, with such raise, we would not be able to provide sufficient liquidity to the market as well as supporting the ecosystem until it becomes self-sufficient. In short, it would increase the risks taken by our investors, which is our first priority and putting them in risk is out of question for us.
We have never even considered working with a capital fund or backer because we wanted to earn with our core community investors; public and private alike as well as our gamers. Our main goal was to eliminate the whales to hit our players; gain your trust with this game and establish a gaming studio and come up with other games.
At this point, we want to thank the Starlaunch Team. They offered us to take some of the burden with offering us to pay 100% of the raised amount despite the fact that our contract with the Starlaunch was to pay 40% of the raised amount as TGE payment. However, as we mentioned above, the minimum viable amount for the game to be sustainable is 150,000 USD. We didn’t want to risk the sum raised by our private investors and Starlaunch Community.
As a result; despite we are extremely sorry to abandon our first born child, we are shutting the project down in order to avoid upsetting both our and Starlaunch’s communities.
We will be refunding 85% of the private investors’ payments; Starlaunch will take care of the refunds from the IDO.
Maybe we will try again at some day…
