In accordance with PANews, Web3 game studio ChronoForge announced on December 11 that it will cease all operations by December 30 due to funding shortages. The studio, which has been operating with a drastically reduced team for months, cited 'numerous adverse factors' including insufficient capital. Since July, the founders have had to personally fund development, and the team size has shrunk by 80%. Despite financial pressures, the team continued to release patches and new features without a marketing budget, below-subsistence revenue, and the loss of co-developers. ChronoForge, developed by Minted Loot Studios, was supported by the Rift Foundation, which raised over $3 million through RIFT token sales. The project launched in 2022 with its first NFT collection and early community-building efforts.
Web3 Game Studio ChronoForge to Shut Down on December 30 Due to Funding Shortages
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