Crypto-Luxury Brand 9dcc Is Shutting Down
The self-proclaimed first crypto-native luxury brand, 9dcc, is shutting down.
The brand’s anonymous founder, Gmoney, announced the news in a post on X Tuesday and said the company would wind down operations at the end of the month.
“Despite strong brand recognition and community engagement, we were unable to overcome the macroeconomic headwinds in consumer Web 3 and global luxury retail softness,” Gmoney wrote in the post.
The brand launched in 2022, not long after the bursting of the crypto bubble in late 2021 sent values of cryptocurrencies and NFTs plummeting. It was a bet on the long-term future of web3, and Gmoney, by then a prominent figure in the crypto world who had collaborated with Adidas on its own NFT project, had the…
