- Treasure DAO is planning to restructure to boost its survival rate
- The DAO is looking for a way to stay afloat until at least early next year
- The restructuring involves reducing its operating costs and focusing on fewer projects
Blockchain gaming platform Treasure DAO is planning to restructure to enhance its survival chances this year and early next year. The restructuring includes reducing unnecessary expenses and discontinuing less impactful projects. Treasure DAO clarified that the restructuring shouldn’t be “mistaken for […] shutting down,” with its lead contributor, John Patten, revealing that he has assumed a leadership role in the DAO.
“Uncertain Market Conditions” Force Restructuring
According to the DAO’s pseudonymous founder Smol Dev, the restructuring has been influenced by “uncertain market conditions.” He added that the move is meant to consolidate the DAO’s focus on “the upcoming AI+NFT market that [it] expects to boom in the next year.”
To clarify my prev post that got mistaken for us shutting down Treasure:
– We have engaged in restructuring to extend runway until early 2026 due to uncertain market conditions
– We have consolidated our focus to the upcoming AI+NFT market that we expect to boom in next year— ✨ Smol Dev (@smoldev__) April 3, 2025
Patten disclosed that its new strategic direction will see it shut down its game publishing feature, adding that it has already shed off a number of its contributors to make it lighter and able to weather the coming months.
The Next Chapter of Treasure ✨
We’re releasing an official statement on our pivotal transition, outlining the rationale behind leadership changes, financial restructuring, and our bold new strategic direction.
Full details 👇 pic.twitter.com/BjWgZxc98l
— Treasure (@Treasure_DAO) April 2, 2025
He noted that reducing the workforce and the number of projects will save the DAO over $8 million. Patten is also eyeing to recall close to $800,000 from Flowdesk and deposit it into the DAO’s treasury.
Treasury Holds $2.5 Million
The treasury currently holds close to $2.5 million, and the DAO’s ecosystem basket holds another $2.3 million in MAGIC tokens. Patten fears that MAGIC is subject to the erratic nature of crypto prices, something that puts the DAO’s operations at risk if MAGIC prices drop.
Treasure DAO’s restructuring comes a few days after NFT marketplace X2Y2 revealed it’s shutting down to pivot to AI. Other crypto and web3 projects like the EOS Network and Binance Labs have recently rebranded to shift their focus to web3 banking and AI, respectively.
With the number of crypto and web3 projects either restructuring, rebranding, or shutting down on the rise, it’s likely that more of these projects have silently left the market due to uncertain market conditions.
