TechFlow news, December 16 — Aether Games officially announced the shutdown of its operations. The project released a statement on social platforms stating that despite various efforts and adjustments made by the team, it consistently failed to attract a sufficient player base needed for sustainability.
The team admitted that the TGE (token generation event) period was a turning point, during which many transactions with KOLs, partners, and advisors proved to be dishonest, resulting in severe financial losses. Meanwhile, major exchanges including KuCoin, Gate, and Bybit have issued delisting risk notices for the AEG token, leaving the project unable to continue.
Aether Games also pointed out that the high costs, complexity, and security risks inherent in the crypto gaming market were key factors leading to its failure. Recently, the project faced multiple hacking attempts, one of which succeeded and affected some users. To prevent further fraudulent risks, the official team has decided to shut down the Discord community.
In their farewell message, the team advised future project developers to consider small-scale fair fundraising and focus on DEX liquidity rather than relying on costly promises and unstable partnerships.
Previously, Web3 game developer Aether Games raised $5 million in a seed funding round, with participation from Mysten Labs, Polygon, and others.
