NEM is struggling

[Samyalson]

We've heard about exchanges and crypto projects cutting staff, and to some extent, we all assumed the sh*t projects would be going down under these testing conditions.  But NEM, a somewhat underrated project, has announced it's running out of funding.

https://cryptomenow.com/major-cryptocurrency-project-nem-only-has-a-month-of-runway-left/

[1714051775]

1714051775

[1714051775]

1714051775

[1714051775]

1714051775

[1714051775]

1714051775

[1714051775]

1714051775

[IVEXO]

I think everyone is struggling not just nem, but instead of causing panic
Why not work even harder and provide value to your product, it pushes price

Eth planned the update, to improve their product, and even though delayed, it still increased the total cap
Announcing shorts of fund could cause unnecessary panic

[blueteam09]

We've heard about exchanges and crypto projects cutting staff, and to some extent, we all assumed the sh*t projects would be going down under these testing conditions.  But NEM, a somewhat underrated project, has announced it's running out of funding.

https://cryptomenow.com/major-cryptocurrency-project-nem-only-has-a-month-of-runway-left/

This is a difficult truth for NEM. A huge investment of ETH 190,000 with the current price is very low, and it is not able to maintain a large machine that can overcome a long winter like an ice age. NEM was right when it cut 25% of its staff, which would reduce the cost of maintaining the company.

[tranthiky]

Sad to hear about this. NEM is a good and successful project in its early stages. But it may have been affected too much from the bear market. Steemit is also a victim of this but it continues to work well.

[Psynthax]

We've heard about exchanges and crypto projects cutting staff, and to some extent, we all assumed the sh*t projects would be going down under these testing conditions.  But NEM, a somewhat underrated project, has announced it's running out of funding.

https://cryptomenow.com/major-cryptocurrency-project-nem-only-has-a-month-of-runway-left/

This is a difficult truth for NEM. A huge investment of ETH 190,000 with the current price is very low, and it is not able to maintain a large machine that can overcome a long winter like an ice age. NEM was right when it cut 25% of its staff, which would reduce the cost of maintaining the company.

That's the company's fault. Look at binance and anyother ico that can generate profit from the platforms. NEM was creating a big mistake because they are not putting the main concern to the question how they can create such a useful application or platforms that can actively generate revenue to cover the operational of the platform.

[cherryganda]

NEM is struggling

If we will talk about the market price then they really are.
But if we will see their development on different countries they are working hard and they are really rising.
They are not struggling instead they are performing well.

[shadowduck]

I think that in a few years this project will simply disappear and it will be just dead coins in your wallets. a few years they can not run a catapult

[qwerty1337]

I do not want to believe that this project will be closed, because they have a strong team, they are constantly promoting their product in different countries, conclude partnership agreements, I think that everything will work out

[GREENch]

It's sad to see what happened to a potentially powerful project. But this once again shows that the inept leadership to anything good will not. Everyone should do what is good at.

[Pamadar]

I do not want to believe that this project will be closed, because they have a strong team, they are constantly promoting their product in different countries, conclude partnership agreements, I think that everything will work out

We have to wait for further notice coming from the team itself, it's sad to know that after those long years of surviving into this field, now they will
ended up this way, maybe there's still reason and hope that the company will continue if your statement is true, sustaining and keep the project
alive is really a hard deal to any team.

[HichemFetoui]

A lot of project are struggling right now due to the lack of expertise of bear market for person that run those projects and foundation a lot of them are under twenty years -good luck for current investors

[Guryon_master]

NEM is just one of all who are struggling in making a good outcome in the market. This just very normal, if bitcoin is at the same path then we can expect the same to all since bitcoin is the leading digital and the future of all cryptocurrency.

[dulinivanrus]

Sad to hear about this. NEM is a good and successful project in its early stages. But it may have been affected too much from the bear market. Steemit is also a victim of this but it continues to work well.

Bear market affected almost all coins, but there is no one says that the NEM has stopped working. NEM is a good and well-established coin in the market with good capitalization, but it is falling.

[ibrahim160994]

They already have a large enough community in the market, not having funds is not the right reason to drop the price, the NEM Team must develop the leak, like what ethereum has done

[James Corden]

What is NEM(XEM)?

The first cryptocurrency after Bitcoin to have built its code from scratch, NEM is unique for many reasons. Its stability, versatile use cases and consensus system are just a few of the things that make NEM different. Here’s everything you need to know about NEM.

NEM: The Basics

NEM, short for New Economic Movement, started out to build a smarter, more technologically advanced blockchain.

It is a cryptocurrency which provides an improved platform and streamlined method to maintain a secure ledger for transactions.
Getting rid of mining and the necessity for powerful systems and expensive hardware, NEM made cryptocurrency transactions much simpler and more efficient. It also drastically reduced the energy requirement for transactions as well as the time required for a transaction.

 NEM Foundation, the non-profit organization established to develop the NEM ecosystem, running out of funds and is looking to secure additional funding from the NEM community. It aims to submit a funding proposal for $7.5 million, which translates to about 172 million NEM XEM, -2.04% tokens at current prices.

The news of the NEM Foundation’s struggles has had a negative impact on the price of XEM, which is currently the 18th largest cryptocurrency thanks to its market capitalization of $391.8 million. The token is down 8.3% in the last 24 hours, with 24-hour volume steadily increasing from $12.7 million to $18.6 million.

[gentlemand]

It's sad to see what happened to a potentially powerful project. But this once again shows that the inept leadership to anything good will not. Everyone should do what is good at.

The inept leadership is gone.

The new leadership which arrived a month ago has the balls to admit they've been left up shit creek by their predecessors. Now they're doing something address it.

[ðºÞæ]

Well i guess it's proving to be not so important (POI)

proper crypto does not run out of money, company's can run out of finances.

That is what happens if you have expensive overheads.

[Absolutep]

The state of the crypto market now is making things difficult for projects these days,it is very difficult to raise fund with the current market state,it is a pity that some good project will also be affected.

[carbal1987]

for nem it's a very difficult time and I think that everything will be decided with the future until March

[ðºÞæ]

I for one am glad the new management admitted the situation instead of hiding it or just bailing on project. This kind of team is what makes a project worth investing in, especially at these low prices

How did you come to that conclusion?