San Francisco-Based Thor Token Project Shuts Down

[TriplexXx]

San Francisco-based blockchain project Thor Token is shutting down as the project “was not able to gain traction and achieve commercial success.” The news was announced by co-founder and CEO at Thor, David Chin on April 9.

Thor — which was built on Neo (NEO) — has announced it is closing its doors as it reportedly could not manage to raise enough capital to come up against the lack of sales, as well as find a new place where it could benefit from more resources.

Chin revealed in the post that the company has been trying to find the right person or entity to hand over the Thor project in order to let it continue, however it has not been able to find one for an acquisition at this time.

https://cointelegraph.com/news/san-francisco-based-thor-token-project-shuts-down

[coffeeastronaut]

It was a good try. Quite interesting to base it on NEO blockhain. I wish the people behind the project the best of luck in future ventures.

[coin-investor]

It's hard to see a good and real project like this to go down, I have seen some really good project that deserves in the market but lack of supports make them shut it down and Thor token is now one of its lists, they should still try to offer their project to companies that are capable to handle it.

[blockman]

I didn't even know this project and now they are closing.

If the project can no longer move on, it's better for them to close rather than handover to another person to handle it.

[pushups44]

This is creative destruction within capitalism, so it's a good thing. There are far too many projects, and while some that fail to get adequate funding may actually be good, chances are that they are just not needed or desired enough to justify their existence.

[joseyphil82]

Kudos to CEO like this one ,atleast he his bold enough say it out to investors ,this move will set examples for other developers ,what we need is clean moves from developers, thanks for sharing the news

[martychubbs]

Oh well, one is closed and another one will be commissioned soon. What did surprise me is that measures about prices of btc. Never new they care so much.

[kindbtc]

So what will happen to their investors and token holders? Will there be any refunds or investors who were holding should face 100% loss of their investment? If that is the case then it teaches us that hodling is not always right especially for newer projects.