Digital Fashion Company Cult & Rain Announces Shutdown

Cult & Rain is closing down its digital fashion company, according to a message shared by its CEO on X.

The Deets

Web3 market volatility affected company financials.
Attempts to secure new investments were unsuccessful.
The company's closure marks the end of Cult & Rain 2.0 plans.

The Bulk

Founded with the vision to revolutionize the tech-fashion space, Cult & Rain announced its closure due to the volatility of web3. Despite efforts to secure further investments, the company has reached a juncture where continuing operations is no longer sustainable.

The company will no longer continue operating towards Cult & Rain 2.0.

🎤 Founder Feedback

Despite the outcome, I am proud of the community and the team for believing in our vision from the very start.George Yang, Founder and CEO of Cult & Rain

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Author Bio

Logan Hitchcock

NFT Analyst

Logan is a content lead at Lucky Trader and is best known for selling every good NFT far too early. He also maintains an irrational exuberance for clay-based NFTs.

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice. AI may have assisted in the creation of this content.