June 2023rise
OpenSeason is now officially live.
Launched as an NFT-based shooting game, the project attracted participation from numerous communities in multiplayer battles, enjoying significant popularity in its early stages.
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OpenSeasonProject · Collapse Archive
NFT-based shooting game
OpenSeason project stopped operations due to funding shortages and high server costs, pivoting to a new game Booby Bot.
$3MMarket Value Lost4 months · 100%
Peak Market Cap$3MPeak Value
Post-collapse Market Cap$0Post-collapse Value
Market Value Lost$3M100%
Crash Duration4 monthsCrash Duration
Collapse Timeline
Live API SyncNFT LaunchQ3 2022Launch of the OpenSeason hunting-themed NFT game series
Community peakQ4 2022The community is highly active, with both NFT floor prices and token prices reaching record highs.
Bear market pressuresQ1 2023The overall NFT market has cooled down significantly, with its enthusiasm fading rapidly.
The project has been halted.Q2 2023Development has ceased, and the project is effectively dead.
March 2024peak
The user base has reached its peak.
The number of active game users has reached a record high, the NFT trading market is thriving, and the community is highly optimistic about the game’s future.
November 2024crisis
Crisis of broken capital chains
The high server costs have led to rapid depletion of funds, hindered fundraising efforts, and plunged the project’s operations into severe difficulties.
February 2025collapse
The project has officially ceased operations.
Unable to resolve its funding issues, OpenSeason announced it would cease operations, with the team shifting focus to developing a new game called Booby Bot.
On-chain evidence
No significant on-chain anomaliesNo on-chain anomalies
OpenSeason shut down normally due to insufficient funds, and no abnormal fund transfers or security incidents were detected in the on-chain transaction records.
Asset losses
Financial PositionCash is exhausted.Failed to secure a new round of financing
Team statusdissolvedThe team was disbanded due to insufficient funding.
Not disclosedTotal Loss
Losses for NFT holders~$1.5M50%
Token holders suffer losses.~$1.5M50%
OpenSeason has shut down due to depleted funds, leaving users at risk of being unable to withdraw their locked assets under the protocol.
Exacerbating the challenges in raising funding for startups：The shutdown of OpenSeason has intensified investors' doubts about the sustainability of early-stage crypto projects, sending a negative signal to other projects currently raising funds in the same sector.
A reversal in community sentiment
Fierce community debates are driving up confidence levels.Players are eager for the NFT combat ecosystem to flourish, anticipating peak community engagement and remaining highly optimistic about the game’s future.
Funding shortages are mounting, fueling growing concerns.Rumors of soaring server costs are circulating widely, the team’s update frequency has slowed down, and players are beginning to worry about whether the project can continue operating.
Sudden shutdowns have triggered widespread panic.The developers officially announced the shutdown of the service in favor of a new game, causing the assets to instantly lose liquidity and plunging the community into extreme panic and chaos.
Anger erupted, with accusations turning elsewhere.Players accused the team of poor management and demanded compensation, but to no avail, turning their panic into intense anger toward the development team.
Emotional sentiment distribution
Warning and condemnation 65%Stay neutral and observe the market developments. 25%Defense support 10%
April 2023 SeasonHolder (NFT collectors)：Hunting-themed NFTs are completely unattractive in a bear market, and OpenSeason itself has been caught in its grip.
Legal proceedings
No progress has been made.Not available yet.
The project was shut down normally without any legal disputes.
The project was shut down as planned due to insufficient funding, with the team exiting in an orderly manner. To date, there are no publicly reported legal disputes or regulatory actions associated with it. · Not available yet. · Not available yet. · No progress has been made.
OpenSeason has shut down normally, with no records of related legal disputes.
Lessons learned
1Strictly control operational costs.
Web3 games need to plan in advance for infrastructure costs such as servers, in order to prevent cash flow disruptions caused by excessive expenses and ensure the long-term sustainable operation of the project. 重点：Uncontrolled costs led to the company’s collapse.
2Diversified financing channels
Relying on a single funding source poses significant risks, so project teams should develop diversified capital reserves and financing strategies to navigate market fluctuations and unexpected funding demands. 重点：Raising funds through a single source carries high risks.
3Adopt timely strategic shifts to limit losses.
When the original project becomes unsustainable, the team should decisively shift focus and leverage existing resources to develop new products, such as transitioning to Booby Bot, in order to preserve the team’s value. 重点：Transformation requires decisive and swift action.
The key lessons and insights that can be drawn from this incident
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