GAMERSE Project Dormancy: Frequently Asked Questions

GAMERSE
3 min readOct 16, 2023

1. Why is the GAMERSE project going dormant?

Due to various technological and partnership challenges encountered over the past 24 months, and after careful consideration of our project’s solvency and future prospects, we’ve made the difficult decision to put GAMERSE into a state of dormancy.

2. What does it mean for the $LFG token to cease trading officially?

Ceasing official trading means that the token is no longer supported by the project directly. The token will still be available on exchanges for trading but this will be at your own risk.

3. Will there be any future updates or is this the end for GAMERSE?

The project will be dormant for the foreseeable future however if there are any changes, we will communicate this publicly.

5. I still have $LFG tokens. What should I do with them?

While the official trading of $LFG has ceased, the tokens remain on-chain.

6. Why was the decision to go dormant made now?

The decision was based on cumulative challenges faced over the project’s duration. Recent setbacks, particularly concerning the SAM marketplace, prompted a thorough evaluation leading to this outcome.

7. How do we know this isn’t a “rug pull” or scam?

GAMERSE has consistently upheld a commitment to transparency and ethical operations. This includes frequent public communications, a transparent team with doxxed information, and continued support during this transition. Our decision is driven by challenges beyond our control, not malicious intent. Read our blog for more details https://t.co/fCemHnB4Zy

8. Will the GAMERSE team be starting any new projects?

At present, our focus is on ensuring a transparent and responsible wind-down of the GAMERSE project.

9. Who can I contact for further information or specific concerns?

For inquiries or concerns, please reach out to us at contact@gamerse.network.

10. Will the community be kept informed of any developments or updates?

Yes, we value our community’s support and commitment. All relevant updates will be shared through our official channels.

11. Are there any potential buyers or partners interested in reviving the GAMERSE project?

At this time, our primary focus is on responsibly winding down the project. If any credible opportunities for revival or partnerships arise in the future, we will communicate them through our official channels.

12. What were the specific technological challenges that the project faced?

Our vision for the Social Aggregator NFT Marketplace (SAM) was ambitious and innovative. The challenges ranged from integration issues with various platforms, scalability concerns, to difficulties in achieving desired functionalities within the planned timelines.

13. How were the funds from the $LFG token sale utilized?

The funds were primarily used for technology development, partnerships, community building, and operational costs. We maintained a commitment to transparency and responsible fund management throughout the project’s lifespan.

15. How can I stay updated on any future projects or endeavors by the GAMERSE team?

Please continue following our official channels. While our current focus is on the GAMERSE project, any future initiatives will be announced there.

16. Why did the partnership with the recent dev-shop fail?

Due to our legal commitments we cannot go into detail as to why our partnership failed to come to fruition. We can confirm that we had exercised every option to try to come to a positive resolution but unfortunately the outcome was not as we had hoped.

17. I invested a significant amount in $LFG. How can I get support or counseling on my next steps?

We deeply regret the project’s turn of events. We recommend consulting with financial advisors to understand potential implications and options. Additionally, we will keep our lines of communication open for any specific concerns you might have.

18. Are there any security implications for token holders now that the project is going dormant?

The tokens remain secure on the blockchain. We advise all community members to follow best practices in cryptocurrency security and not share private keys or other critical information.

19. What lessons has the GAMERSE team learned from this experience?

This journey has been filled with learnings, from understanding technological challenges, managing partnerships, community building, to navigating the volatile cryptocurrency market.

20. Can the community be involved in any future decision-making processes or revival efforts?

We deeply value our community’s insights and contributions. Should there be any developments or opportunities for revival, we would consider community involvement as a critical component.

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GAMERSE

Web3 Gaming and Metaverse Social Media Aggregator. SOCIAL | TRADE | PLAY!