developer

Letsbonk.Fun Developer: Purchasing non-BONK tokens is intended to support creators and does not generate profit

ChainCatcher news, regarding traders tracking their wallet profits, Tom (@SolportTom), a developer of the meme coin issuance platform Letsbonk.Fun under BONK, stated on the X platform that the main goal now is to develop this platform and help creators reach a certain number by trying new things. To create more markets unrelated to BONK, he publicly disclosed his wallet address and purchased related tokens, buying the first non-BONK cryptocurrency (GRASSITO) after the platform announcement was made.Tom mentioned feeling a great responsibility as his wallet was being tracked. He stated, "I only bought one token, then destroyed it and repurchased because I will not abuse this influence." He also revealed that he privately increased his holdings of the token with a market value of $6 million. Tom emphasized, "I am not a developer, there is no secret supply, and I have not profited from this. I just bought the first token that appeared, did not anticipate the subsequent developments, but given the increasingly crazy situation, I decided to become a holder and support within my capacity."In addition, Tom disclosed that he holds HOSICO, LetsBONK, and GRASSITO tokens, and mentioned that he is communicating with an excellent technical team to discuss token deployment cooperation, while updates such as the platform's native translation and advanced trading features are also progressing in an orderly manner.

Trader Eugene: The recent structural decline of active developers is concerning, and the crypto market is陷入 a self-reinforcing cycle in the short term

ChainCatcher news, trader Eugene posted, "The introduction of global trade tariffs marks a change in the world order that has not been seen in over 50 years. Free trade has always been a key factor driving productivity and economic growth, contributing to the largest long-term bull market in history. The shift from openness to a protectionist stance will have profound effects, which will take years to gradually manifest, unless Trump completely abandons his tariff plans. I think the likelihood of that is very low. This will pose significant long-term resistance to global risk assets.In terms of cryptocurrency, the recent structural decline in active developers may be the most concerning thing. In the last cycle, we could observe developer activity and feel reassured because we knew our industry was still benefiting from long-term tailwinds. Fast forward 2-3 years later, and we have not produced anything particularly interesting or important, and the outlook for the future is even worse than it was then.In the last cycle, we looked forward to the launch of ETFs and a better regulatory environment under government support for cryptocurrencies as a light at the end of the tunnel. Now that these have been realized, but (once again) have failed to meet expectations, I see no future that can free cryptocurrency from its inherent 'Ouroboros' (self-circling, self-consuming dilemma).In the coming weeks to months, I hope to reduce operations in the cryptocurrency space, whether bullish or bearish, as I believe this is the wisest choice. Being a believer waiting for a new bull market is no longer contrarian thinking. However, starting to explore new greenfields (undeveloped areas) is indeed contrarian.For me, the only bright spot is that the use cases and global acceptance of Bitcoin are stronger than ever, which may encourage believers to continue hoarding Bitcoin and achieve decent returns (I hope so). The idea of Bitcoin reaching $1 million per coin by 2035 is not a fantasy in my view."

The developer of the cryptic shooting game "Shrapnel," Neon Machine, has been exposed to be in financial crisis

ChainCatcher news, according to Blockworks, the developer of the crypto shooting game "Shrapnel," Neon Machine, is facing serious financial difficulties. So far, the company has spent nearly $86.9 million in operating funds, with projected revenue of $21.7 million for 2024, but high operating costs of about $33 million have prevented it from becoming profitable, resulting in a net loss of $11.4 million.Sources say that Neon Machine's monthly cash burn is as high as $2 million to $3.5 million, and it is currently in a state of cash depletion, with significant unpaid debts, owing millions of dollars to external suppliers. The company’s new round of financing, originally scheduled for early 2025, has also failed to materialize. Previously, the company completed a $20 million Series A funding round in October 2023, led by Polychain Capital.Moreover, the company's workforce has sharply decreased from nearly a hundred at its peak to just over a dozen, with very few people actually involved in the development of "Shrapnel." To extend its cash flow, the company has implemented at least three rounds of layoffs and has asked high-salaried employees to voluntarily take a pay cut of about 20%. The Seattle headquarters was also closed at the end of March.Despite this, the company still claims to be "in the strongest position ever" and plans to launch "Shrapnel" globally by the end of 2025. However, several insiders close to Neon Machine are skeptical about whether the game can be launched smoothly, stating that the project is not yet complete and funds have been exhausted.In addition, according to People's Daily - Jinbao News, Lingjing People's Game Laboratory held talks with the creative team of "Shrapnel" (tentative Chinese name: 弹片), reaching a preliminary cooperation intention on issues such as the minting and distribution of game digital assets in the Chinese market, compliance circulation, and market operation.
ChainCatcher Building the Web3 world with innovators