We are Sorry

…we are sorry that we didn’t post an update here on Medium for a good while.

But more than that, we are sorry that we have to be this direct. We are sorry, but transparency and honesty were always crucial parts of our vows.

It is with great sadness to inform you that Soniq is no more.

We are sorry that we have failed you. In failing you, our community members, we have failed ourselves, as well as countless aspiring musicians around the globe.

But, thus is the current situation. We have never been more excited about our project than we were the weeks before its unfortunate failure and our hearts are still very much in it.

Soniq was a dream, pushed out into existence by a team of passionate professionals, who wanted to make a difference within the world of crypto/music. But Soniq was also a business; its team: a handful of employees that have given up on everything else in order to make something huge and beautiful.

Most of us had accepted working in a small, yet tough team, in lieu of significantly heftier salaries, back when the Soniq Project was founded. I am certain that the majority of the team didn’t jump into our cherished project with dollar signs in their eyes, as I didn’t. It was all about passion. The money would pour in later, and if it didn’t, we would’ve made something helpful, useful and beautiful, or at least failed trying to do so.

I would actually like it if our business idea simply failed. If our MVP turned out way less viable than we had thought and if the whole idea was laughed at by the world. I would’ve probably been ashamed, but we’d have likely laughed about how stupid we were to think that something that crazy would ever work, over couple of cold ones, in the small pub where it all started.

Sadly, this isn’t the case. It is my honest opinion that the worlds of crypto and music were denied a fantastic product in its very first steps. It pains me to say that we were cut down by bad luck just barely before the inception of our MVP.

I want to be angry, I want to point my finger at someone, but in truth, I can’t. I can’t, because there is no one to blame here.

The main reason for the demise of our greatly beloved Soniq Project was money, or lack thereof, to be more accurate. We started off as a no-ICO, self-funded project that tried their best to make it work and, try as we did, it simply didn’t. Everybody on the team had made some mistakes, but these mistakes were always greatly overshadowed by the awesome job we were doing. Every single business, project and corporation makes mistakes and we never were the exception here.

This has nothing to do with the death of Soniq.

It is as simple as that, we ran out of funding. There is no bad blood, there is no blame. It just didn’t work out.

The obvious testimonial of our good, hard work, was our Instagram contest series, that managed to go through two cycles. Our Instagram community started expanding and growing and a myriad of musicians from around the globe were starting to pile up, right in front of our virtual doorstep, ready to try and win crypto awards.

Would you imagine that! A crowd as unrelated to the world of crypto as they come, and we managed to make them realize all the benefits that cryptocurrencies have for them!

We believe that we did an awesome job, and, at the very least, we think that we backed up our mission: Helping musicians earn money and bringing them closer to the world of crypto.

Alas, a great deal of SONIQ was lost in the infamous Cryptopia hack and this certainly didn’t help. We simply couldn’t do anything about it here. We still love the dudes at Cryptopia and wish them all the best. They became an unnecessary victim to a malicious party that doesn’t know how to make success, so all it can do is try and steal it.

As it was the case when we started off, we answer to no one. We were on our own at the beginning and we don’t give a damn who loves or hates us now, in the wake of our demise. But we do care about the fact that we let you all down.

As for me, there is a hole in my heart that will never be properly filled. An empty crevice that just confuses the hell out of me. I still secretly hope for a bull run, or something else that will put Soniq back on its growing feet and help it fill the shoes it was always destined to fill.

And who knows? It’s far from impossible. Stranger things have happened. But for now, this is the end.

Temporary, or permanent, there is no way of telling.

We love you all and hope that we’ll come back.
Thank you for everything!

~The Soniq Project Team

P.S. If anything changes, we’ll let you know immediately. Also, all of you out there who are still with us, if you know someone who is willing to invest and help Soniq continue its development, or want to invest yourself, get in touch with us! We’re more than open for collaboration!