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Damelon

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Sad news
« on: January 16, 2016, 11:35:14 am »

As you have noticed, the site lythmmo.com is down, and there haven't been updates for a long time.

The short and simple answer is: Lyth is no more.

We have tried for two years to make this game, and in the end we have proven unequal to the task.

There are several reasons that we can give for this, the most important being:

1. We have been unable to create and maintain a coherent dev team that was willing and able to work on the cheap.
2. We have been unable to get a level of funding that can sustain a game like we envisioned.
3. Falling price of NXT rather quickly at the start of the project left us with four times less budget than we started out with, severely hampering our manoevring space (20K usd instead of 80k usd)
4. In the end, lack of time and incentive from the team itself.

If you look at the threads and posts in here, you can see we have tried to reboot several times, and each times these efforts have failed.
The last effort was painful when we decided to work with Freebieservers which worked for a while. When to us there were serious doubts about FS, we have decided to end this cooperation after we failed to receive satisfactory answers to our questions after a period of time. This basically got us back to square one, with less funds than we had.

In the end, we decided we did not want to keep spending funds with no clear and certain path ahead. We are extremely grateful people believed in us and the project, but we do not want to spend recklessly on a project we cannot finish.

For all these reasons, we are wrapping up the project, such as it is.

We currently have 390466 outstanding Assets. The rest are all in account NXT-TU9M-RZM6-5WUY-9LANW

The account contains the leftover funds: 1'638'753.89049625 NXT

We are putting up a buy wall for all outstanding Assets @ 4.1969 NXT per Asset.
We will keep up the wall as long as needed, and we will put up a message on the site to alert people who don't visit the forums that often.


Please share this message as much as you can, so people can at least redeem their NXT.

We are very sad Lyth didn't become a reality, but we cannot in good faith keep on going.

Thank you all for your support over the last two years. You are awesome.

If you have questions, please ask. We will try to answer them as best we can.

Kind regards,

On behalf of the Lyth Team
Bas
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yassin54

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Re: Sad news
« Reply #1 on: January 16, 2016, 11:58:21 am »

No problem!!  ;)
Everything is risky  :P
Good luck for the project Tennessee!!   :)

OutSL

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Re: Sad news
« Reply #2 on: January 16, 2016, 12:04:31 pm »

Hi  :-[
don't be sad about that! i passed the last 5 or 6 years seeing projects born and disappear like yours... is something normal in this area even for large companies
i invite you to examine the possibilities to invest the remaining amount in my project because it costs only the server and can be extremely beneficial to all at several levels...

Thank you and @++
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LocoMB

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Re: Sad news
« Reply #3 on: January 16, 2016, 12:11:37 pm »


sorry to see the project go. Kudos for what you achieved!
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Kevinrasf

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Re: Sad news
« Reply #4 on: January 16, 2016, 03:01:42 pm »

Indeed sad to hear this.

Can remember ages ago this project started.

I wish you the best of luck with future projects.
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Kiomansk

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Re: Sad news
« Reply #5 on: January 16, 2016, 04:34:43 pm »

I hope voxelnauts carries on that torch.
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Riker

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Re: Sad news
« Reply #6 on: January 16, 2016, 04:51:51 pm »

Perhaps you can monetize somehow from the code you already developed and other intellectual property you created ?
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JackCelere

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Re: Sad news
« Reply #7 on: January 16, 2016, 09:16:18 pm »

Was visiting the forum to have some news about Lyth, I'm sad to read that and sorry for you. But I think you've had great time while you were working for this project, and you certainly have acquired some knowledge. That's already a good thing.

To put a buying wall is a good thing too. 4 NXT per assets is ok with me, but maybe is there a way to give some more assets of one of the numerous fund here to the people who have risked real money?
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Qwitnix

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Re: Sad news
« Reply #8 on: January 17, 2016, 09:17:18 pm »

Very sad to see this project die.

Thanks for trying!
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printshop

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Re: Sad news
« Reply #9 on: February 09, 2016, 10:33:16 am »

We currently have 390466 outstanding Assets. The rest are all in account NXT-TU9M-RZM6-5WUY-9LANW

The account contains the leftover funds: 1'638'753.89049625 NXT

We are putting up a buy wall for all outstanding Assets @ 4.1969 NXT per Asset.
We will keep up the wall as long as needed, and we will put up a message on the site to alert people who don't visit the forums that often.


Please share this message as much as you can, so people can at least redeem their NXT.

We are very sad Lyth didn't become a reality, but we cannot in good faith keep on going.

Thank you all for your support over the last two years. You are awesome.

If you have questions, please ask. We will try to answer them as best we can.

Kind regards,

On behalf of the Lyth Team
Bas

You have been fair and gracious to your investors and I commend you for that. I'm sad to see the project didn't work out as intended. I believe I could have added value to your project. If such a project were to arise in the future I strongly suggest you hire a qualified business consultant to help you organize what is going on. I'll touch on a few points;

1. We have been unable to create and maintain a coherent dev team that was willing and able to work on the cheap.
* I believe you could get around this by creating a type of organization around an open source project. The organization, headed by a general contractor, would be in control of the project, which would sit in open source space and grow as contributions come in. There would be no definite timeline for such a thing. You can still have an investment structure around such a project. The investment structure represents a loan to the organization. This is very general of course you would need specific guidance to set something like this up.

2. We have been unable to get a level of funding that can sustain a game like we envisioned.
* There are multiple ways this can be solved, the basic idea would be to set up a sort of "trust fund" for the organization previously mentioned. Again you would probably want someone who specialized in this sort of thing to run it. You would be looking at something like SafeHash which lives in "guaranteed space" or "trusted space" to coin a phrase; i.e. spending is carefully controlled. If you were to incorporate the spending could be restricted by your corporate bylaws, or at least controlled by the directors or the board so that it did not exceed certain limits established by the specialist.

3. Falling price of NXT rather quickly at the start of the project left us with four times less budget than we started out with, severely hampering our manoevring space (20K usd instead of 80k usd)
* Lesson learned; diversify (you don't need me to tell you this, I'm just running down the list!)

4. In the end, lack of time and incentive from the team itself.
* You need someone to give you pep talks. Are you really willing to throw in the towel just yet? There's no way this can be revived?
* Think of all the work you have done. Are you saying it has no value?

If you look at the threads and posts in here, you can see we have tried to reboot several times, and each times these efforts have failed.

I know. I guess I am just saying this because it is difficult to accept that the project is over.

Thank you for doing the right thing the whole way through! Good luck on your next project.
 

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