BlockBeats News, August 21st, NFT content distribution platform XCAD Network announced that it will gradually cease operation. The team stated that the company currently has no remaining funds, and continuing to maintain the token's listing on exchanges has become a "doomed struggle." The existing products and services will also no longer be supported.

XCAD Network stated that the company has been in operation for about 5 years, making it one of the few projects that continued to operate for years without being listed on a Tier-1 exchange. As retail investors gradually exit the crypto market, fan tokens have failed to achieve the expected growth. The team had previously attempted to pivot to the AI influencer track but ultimately did not succeed.

The team mentioned that there is currently not enough funding to sustain the company's operations and is considering open-sourcing the project code for interested developers to run on their own. However, this does not mean that the company will continue to operate, nor is it a project reboot or relaunch. XCAD Network stated: "This is not a reboot."