ChronoForge’s shutdown highlights mounting financial strain across Web3 gaming as shrinking budgets and dismal market sentiment take their toll. ChronoForge, a Web3 game studio developing a multiplayer action RPG centered on onchain asset ownership, is shutting down after months of operating with a drastically reduced team, a closure that underscores the severe financial pressures facing the Web3 gaming sector during the current market downturn. On Wednesday, the studio announced it will cease all services by Dec. 30, citing “many headwinds,” including a funding shortfall that forced the founders to finance development out of pocket since July and reduce staff by 80%. In a statement posted to social media, the team said it had continued operating under intense financial strain, pushing out patches and new features “despite no marketing budget, below sustainment revenue, loss of codevelopers and terrible Web3 gaming sentiment.” Read more
It takes a village to raise a child, and, in the case of Hamza Asif, it took a village to raise a national record holder. The “village” in question is Faisalabad, where Hamza is already something of a local celebrity. Most of Pakistan’s top swimmers were produced by Karachi, Lahore and Islamabad, and then international quarters far and wide. Hamza’s roots came to the forefront when his triumph in the 50m freestyle in 2023 earned him the nickname of “The Rocket” since the event denotes the fastest aquatic Pakistani. It was in Faisalabad where he was shuttled to and from 5am swim practices by his grandparents, nurtured by Imran Nazir at the Chenab Club. When he began swimming at the age of six, it was his mother who would pace the edge of the pool teaching him the basics of the sport, much to the disapproval of conservative men who were uncomfortable by her presence. It did not faze her. The country’s textile hub does not have a 50m pool, whose single lap he completed in historic fashion on Wednesday afternoon ...
Romanian government got a 40% increase in the royalties from its agreements with OMV Petrom (SNP.RO), but the impressive percentage only applies to a meager amount of RON765 million last year.