Superdao Founder Hints at Shutting Down Platform Despite Launching Many DAOs
The founder of Superdao, Yury Lifshits, has suggested that the platform may be shutting down, despite successfully launching numerous decentralized autonomous organizations (DAOs) since its inception in 2021. In a letter posted on the company’s Notion page, Superdao announced that it is ceasing operations due to the crypto ecosystem falling short of its initial ambition of becoming the next generation of the internet. The founder highlighted Superdao’s achievement of helping over 2,000 DAOs launch, with 300 million wallets already indexed. According to Crunchbase, Superdao raised $1 million in October 2021 and an additional $10.5 million on January 26, 2022. The remaining funds will be returned to investors, though the exact amount was not disclosed.
Short Lifespan of Projects and Industry Challenges
In the letter, it was acknowledged that many of Superdao’s projects had relatively short lifespans. However, despite industry and market challenges, the team managed to establish seven new companies. Superdao plans to share more insights about the lessons learned in the industry in the near future.
Hot Take: Superdao Closes Its Doors Despite Successful DAO Launches
Superdao, a platform known for launching decentralized autonomous organizations (DAOs), has unexpectedly announced its decision to shut down. Despite assisting in the launch of over 2,000 DAOs and indexing 300 million wallets, Superdao stated that the crypto ecosystem did not live up to its grand ambitions. The company raised $1 million shortly after its launch and secured an impressive $10.5 million investment in early 2022. While acknowledging that many projects had short lifespans, Superdao managed to establish seven new companies. The remaining funds will be returned to investors. Superdao intends to provide further insights into the challenges faced in the industry, offering valuable lessons for the crypto community.
By
By
By
By
By