AbyssWorld, a blockchain gaming company, has claimed that its investment firm, Chainhill Capital, has defaulted, leading to the early unlocking of AWT tokens for investors.
According to BlockBeats news on October 13th, the community administrator of the blockchain game AbyssWorld announced that "in order to protect the funds required for game production, we have decided to postpone the SUI airdrop for Gazer this month. We have encountered long-term fraud, and our early major investor Chainhill Capital has had a thunderbolt problem, with investment funds for AbyssWorld and other games not yet received. AbyssWorld has been in arrears for more than half a year, and we have expanded the team as planned but consumed more cash reserves than planned."
In addition, the announcement also mentioned that the project will do its best to compensate affected community users and keep a record of Gazer holders. Due to financial constraints, the project cannot fulfill its market-making commitments, and has decided to unlock and release all remaining AWT tokens for Gazer and ID0 to help disappointed investors exit early. They also plan to announce the destruction of some repurchased tokens soon.
According to insiders, many game development teams have been affected by Chainhill Capital's failure to pay, with a total committed investment of nearly $20 million.