Thor Token, San Francisco-Based Project Shuts Down
Thor Token, San Francisco-based blockchain project is shutting down as the project “was not able to gain traction and achieve commercial success.” This was revealed by co-founder and CEO at Thor, David Chin.
Thor which was built on 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.
David revealed via 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. Chin stated:
“Thor will be ceasing operations in the near future given no other funding or acquisition offers are found. […] All Thor code and products will remain open source for the community to use, modify, or fork, for its benefit.”
The closure of various digital currency projects have been the trend as of late. In December 2018, news broke that major United States-based stablecoin project Basis would shut down operations and return the majority of the $133 million in funding it raised in a private placement last April to its investors.