Hindsight is 20 / 20. Someone did sell an axie plot for $2.5m.... people were spending crazy money back then - see this link about the axie land plot slae: https://decrypt.co/86875/grayscale-says-metaverse-1-trillion-opportunity-record-breaking-sale-axie-infinity
Idk what you can do to fix this but y'all try not to beat yourselves up too much. I have gotten dupped before, it happens and unfortunately this is a big one.
Projects should try to keep goals reasonable and operating costs low until they have some serious revenue to stand on.....Investor funds and revenue are not the same thing. Maybe the CEO knew that, maybe he didn't; hopefully time will tell and we can get more transparency,
I look forward to reading more about Astral Revaltions and seeing the value it can bring to Hive's ecosystem.
❤️,
Hurt
Let's just say financial management and game dev are 2 completely different things. After some failed projects, I have learnt to be a bit more wary of the "next big thing" as they always like to proclaim their new idea.
Totally agree Blitzzz. Unfortunately good accountants and analysts aren't cheap. If projects have no experience with cash management, they probably should seek out a peer and learn some best practices for basic accounting.
Also, I feel like if a project has this much community buy in and people working for free, disclosing how funds are used might be a good practice and could help prevent these things from happening.
This wasn't a hedge fund, it was supposed to be a relatively simple game.
Financial disclosure to people the company acknowledged as investors doesn't seem that crazy to me.