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NEW 🚨: Futureverse Announces Restructuring for Sustainability! • Impacts only Futureverse Corp., not subsidiaries • Focus shifts to core products, protocols, and applications • Receivership process underway with TRN Labs assisting on treasury and governance • Open-source protocols (Root Network, NFI pallet, Sylo, interoperability standards) remain active • Services such as Pass, Asset Register, Staking Dashboard, Asset Dashboard, and RootRewards will continue operating • Futureverse will keep running nodes, while community is encouraged to contribute to the decentralized network Co-founder Aaron McDonald noted the company’s plan stretched across AI, gaming, and Web3 protocols but proved unsustainable amid delayed launches, liabilities, and a difficult fundraising environment.

Futureverse: The board says it’s restructuring. The @TheRootNetwork states it’s independent of the receivership and core services (FuturePass, Asset Register, staking, RootRewards) should stay online. Infra keeps running; expect slower FV-led content. Eyes on the receiver’s plan next.

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The Root Network will remain independent of the Futureverse receivership process. The software and protocols including the NFI pallet and Sylo are open source and we will add further code to the open-source repos in the coming days for developers who wish to continue using and building on these. Futureverse intends to continue to run its own nodes throughout the process but as with everything in web3 as long as the community contributes to the infrastructure, it will remain active. Decentralized networks rely on community participation, and we encourage whoever is passionate about these protocols and the network to contribute. Services such as Pass, Asset Register, Staking Dashboard, Asset Dashboard and RootRewards will all remain active during this restructuring period. We will put decisions about the token pools under the administration of TRN Labs and continue the work to implement network governance which is close to completion with the resources we have available we invite anyone who wants to help with that to contribute to the open-source code base, testing and implementation.

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August wrap : All tokens all time low All NFTs all time low @TimeofEmergence confirmed rug/pivot @Polemos_io confirmed rug within weeks of launching their token Phishing scam targeting FV-@FCBarcelona drained community wallets Bots continue to run rampant in #rootrewards

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