Superdao will gradually cease operations and a large amount of remaining funds will be returned to investors

Odaily News Web3 growth and DAO creation platform Superdao announced that it will be closed soon. Superdao said that in 2022 it began building growth and analytics tools for Web3 projects that were already up and running, but Superdao found that it became clear that the crypto industry itself became much smaller than the original ambition (the new Internet) for crypto companies. Providing specialized tools is unlikely to generate venture-scale returns. In view of this view, Superdao decided to return a large amount of remaining funds to investors and gradually cease operations. Superdaos team members have founded at least seven new companies. Some of the work will be released as open source projects. According to previous news in January 2022, Superdao announced the completion of a US$10.5 million seed round of financing at a valuation of US$160 million, with participation from AllianceDAO, Signal Fire, Pear VC, DIGITAL, One Block Capital, etc.