Web3 digital fashion company Cult & Rain announces closure of operations.

Samiksha · Post time 15-12-2023 12:42:56

Golden Finance reported that Cult & Rain, a Web3 digital fashion company, has officially announced the closure of its operations. According to a public letter released by the company's founder and CEO, George Yang, the financial impact of cryptocurrency and Web3 market fluctuations, coupled with the failure to secure external investments, led to the decision to cease business operations. Additionally, the company is discontinuing the Cult & Rain 2.0 initiative.

Ritu13 · Post time 15-12-2023 13:02:05

It's not a good thing that they've shut down operations.

Yamini003 · Post time 15-12-2023 13:15:06

Does ""closing operations"" here mean bankruptcy?

Kahn332 · Post time 15-12-2023 22:03:41

"What issues led to this?

"

Jafar224 · Post time 16-12-2023 06:51:15

I didn't expect them to announce the closure of operations.