1/ Hi Ovation Family, we have some sad news. Later this month, we’ll be shutting down Ovation. This wasn’t an easy decision, and we want to share the journey, the lessons, and the gratitude we feel. 👇🧵
1/ Hi Ovation Family, we have some sad news. Later this month, we’ll be shutting down Ovation. This wasn’t an easy decision, and we want to share the journey, the lessons, and the gratitude we feel. 👇🧵
7/ This is the end of a chapter, but not the end of our story. The lessons, friendships, and belief in building will carry forward into what comes next ❤️
With gratitude and love,
— Maanav & Jack
4/ Over the last year, Jack and I worked tirelessly to raise funds for our angel round. But raising in the NFT market has been tough and towards the end the vision was no longer clear. We started Ovation to build the first NFT Superapp, but as we did research and worked with customers we soon realized that people liked the fragmented landscape.
VC and angel focus shifted elsewhere, and instead of continuing to cover costs out of our own paychecks, we had to make the painful choice to close Ovation. To scale properly, we would’ve needed to triple our monthly expenses — something unsustainable for us at this stage.
6/ To our community — thank you. Every kind word, every piece of feedback, every ounce of energy you gave us kept us going through the hardest days.
Ovation may be ending, but the love and belief you shared will stay with us forever. We will be making Ovation an open source project on Github for others to use if they want to.
3/ A special thank you to our advisor @andergri and the @archwayHQ Foundation. Your grant and guidance gave us the chance to keep going this past year — without you, Ovation wouldn’t have made it as far as it did. An additional shoutout to @txblockchain for helping us with BD and grant support!
2/ We started Ovation 3 years ago as first-time founders who knew almost nothing — but we poured our hearts into it anyway. We stumbled, learned, and persevered. For the first year, we weren’t even technical enough to build much of the product. But along the way, me (Maanav), Grant, and Jack grew so much and built genuine friendships. There were so many soft skills built along the way and we hope to get to use them in our future endeavors.