The Web3 growth analysis platform Superdao will gradually cease operations, and the remaining funds will be returned to investors

2023-10-19 13:29:14

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ChainCatcher news, the Web3 growth and DAO creation platform Superdao has announced its impending closure. Superdao stated that in 2022 it began building growth and analytics tools for Web3 projects that were already launched and operational. It clearly observed that the crypto industry itself has become much smaller than the initial aspiration ("the new internet"), making it unlikely for dedicated tools for crypto companies to yield venture capital-scale returns.

In light of this perspective, Superdao has decided to return a significant amount of remaining funds to investors and gradually cease operations. Team members of Superdao have already founded at least 7 new companies. Some of the work results will be released as open-source projects.

According to the crypto data platform RootData, Superdao announced in January 2022 that it completed a $10.5 million seed round financing at a valuation of $160 million, led by SignalFire, with participation from Alliance DAO, Shima Capital, Circle Ventures, and others.

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