Dear ArcadierX Community,
Seven months ago, we set out with the ambitious goal of enhancing marketplace inventory and reputation distribution through decentralisation, via the world’s first reverse ICO by a leading marketplace builder. We envisioned a six-pronged approach, utilising the power of distributed ledger technology along with innovations in inventory sourcing and distribution, trust, cryptocurrency, provenance and trade financing to strengthen Arcadier’s marketplace platform at the core.
We received incredible support and rave reviews from the blockchain community and was awarded as one of the top 10 ‘Innovative Blockchain Project of the Year’ by the World Blockchain Forum 2018. However, even with such support and recognition, fundraising for blockchain projects the last 6 months has proven challenging and upon careful consideration, we have decided to put ArcadierX’s ICO on hold, effective May 31st, 2019.
We have considered alternative fundraising methods, including equity investment, and will continue to evaluate our different options. Currently, all investments have been returned in full to the relevant parties and we are thankful for their support.
Though we are suspending ArcadierX for now, by no means are we giving up. We at Arcadier wholeheartedly believe in the power and importance of blockchain technology within marketplaces and are looking forward to eventually bringing it into Arcadier’s system. We are simply putting a temporary halt in anticipation of better timing and redeploying our resources to further strengthen our core business that will benefit our future blockchain initiatives. We plan to revisit this project in Q4 of 2019.
Again, we sincerely thank everyone who supported us and this project — from our extraordinary backers and partners who believed in us, to the outstanding team that joined us. If you have any questions regarding ArcadierX, please contact us at: info@arcadierx.io.
We look forward to sharing future updates on this project with you.
Until next time,
The ArcadierX Team
