As we’ve stated in our previous company announcement, because of our entrepreneurial spirit we are always ready for change. Not just to accept it, but to embrace and help drive it.
Since Neufund’s inception, we’ve always had a dream to be at the forefront of innovation, taking a risk, and showing resilience in times of adversity. With the help of our team, we’ve developed a groundbreaking product, very often the first one to market; conducted the first-ever Equity Token Offering in 2018, and hosted the world’s first blockchain IPO in 2019. With a lot of effort and belief in what we do, we’ve had to overcome numerous hurdles along the way to make this innovation a reality.
Many European countries had aspirations to become a blockchain-friendly hub. After countless meetings between entrepreneurs with politicians and financial authorities it became clear that while there are high demand and opportunity for this type of change, the authorities have stifled this plan, blocking the innovation in its tracks. The gap between the promise and the realization has grown bigger and bigger.
As a startup, by definition, we work in a dynamic environment. The agile approach is definitely something we live and breathe every day. We’ve worked with the authorities and cooperated in any way we can, but unfortunately, this decision-making process has been too slow.
Nevertheless, the spirit of entrepreneurship is never to give up. In the ever-evolving tech space, we need to stay agile and take risks in order to stay relevant and grow. We’re reshaping our vision for the future and rethinking how we can continue bringing value to our community and investors through our product.
There is no time to waste, we need to accelerate.
The barriers built by regulators reinforced with the lack of dialog, especially during the current economic and social situation made us review our product roadmap and the platform’s future. There is no reason to wait for the new “normal” in order to change course. Today we announce that we’ve decided to pivot, put aside our Equity Token Offering project, and pause upcoming fundraising campaigns. We are committed to dedicating all our time and resources to focus on new product development. We are hopeful with the launch of our new product, that we will open new opportunities and continue bringing value to our investors and community. We are thankful for the full support from our investors, as we take this first step in a new direction.
What does the change mean for the current users and community?
From the beginning of Neufund, we were always transparent with our investors and supporters. The community is the core of Neufund and we keep supporting it. We won’t abandon the current platform. All token holders (NEU, FTH, GRP) can be sure the platform will be maintained, all money and assets are safe. Token holders have full ownership of their wallets and therewith of the tokens. They will be able to use the tokens to collect payouts and to act on their token holder rights. The post-investment activity is still happening and we work hard to make the product experience more user-friendly.
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