https://t.me/Rootproject/25473Progetto ufficialmente chiuso, qui sotto l'annuncio di Nicholas Judge pubblicato su telegram
Nicholas Judge, [22.06.19 01:18]
Hi All,
Below is the official announcement. We are filled with sadness to have to send it. The delay in this announcement comes from months of trying to make it work without any funds, and exhausting every (legal) alternative. We did our best during hard times, but, well, I'll let the formal announcement below speak for itself.
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From All of RootProject,
It is with much sadness that we must announce the closure of RootProject.
A small project that held and did not trade the eth or btc it raised, nor seek to be listed on any exchange, RootProject has run out of funds. While it had finished its raise with just over $1m worth of ETH and BTC on-hand, the value of that same amount fell to roughly $200,000 during the "crypto winter." Like many American projects during that time, it kept its holdings in the ETH and BTC it had raised, liquidating to fund operations.
RootProject was an attempt to use a crypto asset to extend market-like structures into the nonprofit sector and deepen them in the impact sector. During its time, it ran successful campaigns for several non-profits, starting with Cycle For Kids, and most recently ending with the Numi Tea Foundation, in their program to provide summer schooling for Iraqi girls. The funds raised were exhausted after being used to support these campaigns and to otherwise run and support RootProject.
"At some point, the low cost of financial innovation and transaction mean that crypto assets will help even the playing field between the pursuit of profit and the pursuit of social good," RootProject Cofounder Dr. Nicholas Judge said. "We raised just enough to try out the model, but in the environment of the past six months, in a difficult market where crypto assets are considered too controversial for reputation-first nonprofits to participate, our traction just was not there in time."
RootProject began before most tech and nonprofit professionals had heard of "the blockchain." After its initial sale of tokens, market forces and regulatory constraints limited the ability of RootProject to raise more funds. The tokens remain outstanding but the foundation will dissolve.
Nicholas Judge, [22.06.19 01:18]
On a personal note, I want to thank all of the supporters who worked and contributed so much to a noble idea that we tried our best to implement in the real world. In the future I hope this work lays the intellectual foundation for a new, more powerful, decentralized, democratized and frankly radical way in which the non-profit sector works on some of the world's harshest problems
Nick
