Superdao, a platform for Web3 growth and DAO creation, has announced that it will be shutting down. Superdao began building growth and analytics tools for existing Web3 projects in 2022. However, it found that the crypto industry itself had become much smaller than its initial ambitions of being the “new internet.” Providing specialized tools for crypto companies was less likely to yield venture-scale returns.
With this perspective, Superdao has decided to return the remaining significant funds to investors and gradually wind down its operations. The team members of Superdao have already founded at least seven new companies, and some of their work will be released as open-source projects.
Earlier in January 2022, Superdao announced a successful seed round financing with a valuation of $160 million, raising $10.5 million. Investors included AllianceDAO, Signal Fire, Pear VC, DIGITAL, One Block Capital, among others.