Treasure DAO has announced the closure of its gaming publishing platform and blockchain amid significant financial challenges, leading to layoffs and the departure of key leaders. Cofounder John Patten confirmed in communication that the organization is aiming to survive with a leaner team. Previously reporting an annual burn of $8.3 million, the DAO faced over $11.3 million in quarterly expenses against a meager $40,000 in revenue by Q4 2024. With a reduced treasury now amounting to $4.746 million, including stablecoins and the value of their MAGIC tokens, the team is attempting to secure additional runway. The pivot away from gaming to focus on AI comes as various games exit the ecosystem, with some teams voicing that the changes do not align with their goals. Patten described this shift as a necessity for survival, contrasting with earlier statements made regarding the business’s direction.

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