Gen3 Abandons Retail-Focused Platforms on XRP Ledger Amid Funding Concerns
Gen3 co-founder Shen has announced that his company will no longer invest in retail-focused platforms on the XRP Ledger.
The decision, which comes after five years of building products on the XRPL, was described by Shen as one of the most difficult choices Gen3 has made.
The team has spent years developing products aimed at expanding the ecosystem and has contributed to several projects, including Zerpmon, Aigent, and Axiom Protocol.
Despite their experience and contributions, Shen said that the team no longer sees a sustainable path for operating a retail-focused platform on the XRPL due to funding concerns and a lack of opportunities for startups not already generating revenue from other blockchains.
Gen3 will continue supporting the XRP Ledger by maintaining its dUNL validator node and reviewing upcoming amendments, but Shen has announced that he personally plans to take a break from building and social media to focus on other areas of his life.