SuperDAO Project Shuts Down

Yury Livshits, founder of SuperDAO, made an announcement that the platform will be shutting down due to the cryptocurrency market not meeting its expectations.

The platform was created in 2021 and supported over 2,000 organizations but faced challenges as most of the organizations had a short lifespan.

This resulted in SuperDAO being unsustainable as a business. In 2022, the platform pivoted to creating analytics tools for existing Web3 projects, which were used by various top crypto companies.

However, it was found that the industry was not as large as anticipated and specialized tools for crypto firms were not leading to significant profits.

As a result, the SuperDAO team has decided to return some remaining funds to investors and cease operations.

Some team members have already launched seven new Web3 companies and Livshits has promised to share key lessons learned in the future.

It is worth noting that the European Central Bank has previously stated that the future of the DAO segment is limited due to the lack of a regulatory framework.