CEDEN Network Announces Immediate Closure

It's not the story anyone looks forward to sharing, but it's one worth noting considering all the efforts made by the team. CEDEN Network is shutting down operations effective immediately.

The following passage was shared by CEO Alex Moody within the CEDEN discord.

"To our community, partners, contributors, and supporters:

After extensive consideration and every possible effort to continue operations, we are announcing the immediate closure of CEDEN Network.

This decision was not made lightly. CEDEN was founded with the goal of building meaningful infrastructure and gaming experiences at the intersection of Web3, DePIN, and decentralized ownership. Along the way, we are proud of what our team accomplished with limited resources and significant constraints.

Most notably, we successfully designed, engineered, and shipped the CEDEN Edge Node Network alpha. This fully functional decentralized infrastructure prototype was built from the ground up. Delivering this system required deep technical execution across networking, node operations, blockchain integration, and game-adjacent infrastructure. Reaching this milestone validated the technical vision and demonstrated our team’s ability to ship real, working systems in an extremely challenging market environment.

However, despite this progress, we were ultimately unable to secure the funding required to scale the Edge Node Network beyond alpha. Without the capital necessary for network expansion, hardware, and sustained development, the project could not progress into a viable production phase.

At the same time, the broader Web3 gaming market proved far more difficult than anticipated. Player acquisition costs remained high, retention across the sector remained low, and monetization continued to underperform across nearly all comparable projects. These macro conditions significantly impacted our ability to grow an engaged and sustainable player base for our games.

The launch of MEGAWEAPON, while enjoyed by the players who engaged, did not perform at the level required to support ongoing operations. Engagement, retention, and revenue all fell short of what was needed to offset operating expenses or fund continued development. Despite consistent updates, the product was unable to gain sufficient traction.

Over the years we pursued multiple strategic pivots. We explored alternative platforms and ecosystems, including most recently Abstract with $BEAVER and MEGAWEAPON. These efforts represented genuine attempts to adapt, refocus, and find a sustainable path forward. Throughout this process, the founders personally contributed substantial out-of-pocket financial support to keep the company alive and give these pivots a real chance to succeed.

Despite our investments of time, capital, creativity, and effort, we have reached the end of what is realistically possible. Revenue remains insufficient, external funding has been unattainable, and the company has no remaining capital to continue operations.

As a result, CEDEN Network will cease all business activities effective immediately.

We are deeply grateful to everyone who believed in this vision, tested early builds, ran nodes, played the games, shared feedback, and supported us through the highs and lows.

Thank you for being part of this journey."

The level of transparency provided by Moody is commendable. According to another discord update, they will be distributing all revenue from the past two seasons (.7263 $ETH) to the All Time Score DEGEN Leaderboard top 20 players as a thank you for player efforts.

This process will occur over the next two days.