Key Notes
- DropsTab’s 82-name list carries about $727 million in disclosed project funding, including venture capital and token sales.
- The cohort mixes completed closures, future wind-downs, product retirements and bankruptcies, with disputed entries such as Beets.
- The directory links all 82 names and separates parent-company financing from project-level totals.
They raised hundreds of millions of dollars, attracted some of crypto’s best-known investors and built across trading, wallets, gaming and blockchain infrastructure. Now they appear together on an 82-name shutdown list.
A graphic published by DropsTab on October 22 puts their combined disclosed fundraising at approximately $727 million. Coinbase Ventures backed eight entries, while a16z and Polychain each backed six, according to the data provider. The list captures a sharp gap between raising money and building a lasting business, but it also needs a closer reading: it mixes company closures, product retirements, bankruptcies, pauses and shutdowns that are still scheduled for the future.
CoinScreamer traced the names to project announcements, official documentation, governance discussions and contemporaneous reports. The directory below preserves all 82 entries in the graphic while identifying what the available evidence actually supports. It is not a claim that 82 entire companies or blockchains have already disappeared.
What the $727M Actually Measures
The graphic’s footnote defines its funding figures as venture capital plus token sales. DropsTab’s website separately tracks token markets, fundraising rounds and investor portfolios. These are historical amounts raised, potentially years before a shutdown announcement. They do not measure money raised during 2026, current treasury balances, customer losses or the amount ultimately lost by investors.
Adding the 46 project-level amounts printed in the graphic produces $727.02 million, which reconciles with the rounded $727 million headline. Four other tiles explicitly identify funding at a parent-company level: Polygon Labs, Magic Eden, Zerion and Igloo. Those amounts total $653.5 million and are not included in that $727.02 million calculation. Adding them would mix financing for larger organizations with individual discontinued products.
The remaining 32 tiles show no fundraising amount. A blank figure is missing information, not evidence that a project raised nothing. The chart is therefore a disclosed-funding snapshot, rather than an audited total of every dollar associated with the cohort.
The investor counts also require care. Coinbase Ventures’ eight and a16z’s and Polychain’s six each are participation counts attributed to DropsTab. Their portfolios can overlap, and the graphic does not disclose each fund’s check size, ownership, recoveries or overall portfolio performance. Those counts cannot be added to claim 20 distinct failures or used to calculate the funds’ losses.
The Biggest Names Tell Different Stories
Sophon is the largest project-level amount in the graphic at $73.3 million. Yet its announcement describes moving away from running a standalone chain and continuing as a consumer application studio on Base. That is a retreat from a blockchain strategy, not an announcement that the entire team or business has ceased to exist.
AscendEX, shown at $63.7 million, presents a different problem. Its statement says normal operations and customer withdrawals were suspended from July 1 following the failure of a recapitalization transaction. A suspension with unresolved customer claims should not be presented as the same outcome as an orderly app retirement with users able to leave normally.
Neon EVM and Loopring are each assigned $45 million. Neon’s wind-down notice says development and team support ended October 1, with users and developers asked to complete migrations or withdrawals before December 31. It also explicitly says the wind-down does not cancel the NEON token on Solana. Loopring’s return plan confirms its L2 shutdown and describes returning eligible assets to Ethereum.
BlockFills’ $43 million entry concerns a court-supervised restructuring. Related entities filed for Chapter 11 on March 15, according to the company’s update. Chapter 11 is a legal process for dealing with a distressed business and its obligations; the filing alone does not prove that every service or asset has become worthless.
Movement, shown at $41.4 million, needs an equally important entity distinction. The original developer’s bankruptcy was reported in July. The Movement Network Foundation’s later statement identifies Move Industries as the network’s primary operator and describes an ongoing technical and business roadmap. A developer’s bankruptcy is not proof that the blockchain stopped.
Some Entries Are Products, Pauses or Disputed Closures
Blur’s $11 million tile is a particularly clear example. Its notice schedules retirement of the blur.io frontend for November 12 and says the marketplace protocol will remain operational onchain. That is both a future date and a narrower event than the disappearance of Blur as a protocol.
The same care applies to parent-company products. Polygon confirms its zkEVM sunset, while other Polygon networks and businesses continue. Magic Eden’s wallet retirement concerns the wallet and Account Wallet products. Zerion’s Zero guidance describes the L2 wind-down alongside continuing wallet activity. None supports calling the entire parent company closed.
Genso also has a later development that a static shutdown tile misses. After announcing service suspension, its operator published a June 4 transfer agreement with Hanabitei and plans to prepare for a restart. The statement does not establish that service has successfully resumed, but it makes an unqualified permanent-closure description incomplete.
For 77-Bit, the original notice describes an indefinite development pause, layoffs and a search for funding or an acquisition. Xociety similarly announced a live-service pause. Pixiland’s official channel later said its planned Web2 transition was paused while a potential service transfer was negotiated. These are distressed or interrupted projects, with different degrees of finality.
Beets is the clearest disputed inclusion. In a September 15 response, the project explicitly said it was not winding down and that its Sonic contracts, pools, withdrawals and stS remained operational. Its account subsequently published product updates. The directory retains Beets because it appears in DropsTab’s graphic, but does not endorse its classification as a confirmed shutdown.
Funding Could Not Solve the Business Model
Several original notices describe a more straightforward commercial failure. Legend said its product found an audience but did not reach the scale needed to sustain the company. Satori said revenue no longer covered operations. Tally canceled its ICO after concluding that it could not responsibly make the promises a token sale would require, while questioning whether DAO governance tooling could support a venture-backed business at the necessary scale.
Entropy’s founder announced a wind-up and a return of remaining capital to investors. That is a direct reason not to equate historical fundraising with a total investment loss. Similarly, keeping a token transferable or leaving code on GitHub does not establish that a staffed, supported product remains commercially viable.
The two $33 million entries also show how broad the cohort is. Proof of Play said it could not turn its blockchain-gaming thesis into a sustainable business at scale and would release code and art. Yupp was an AI model-comparison service whose founder announced a wind-down. Grouping it here reflects its crypto-investor backing, not the shutdown of an AI blockchain.
Security incidents contributed to another set of exits. Step Finance’s notice follows a treasury hack; Carrot attributed its closure to the effects of the Drift incident; and Ionic explicitly linked its cessation to its earlier exploit. These are individual explanations, not evidence that every project in the graphic failed for the same reason.
All 46 Entries With Project-Level Funding
The amounts below reproduce DropsTab’s financing labels and are not independently audited fundraising totals. Each linked name leads to a project source or identified report. “Report / limited primary access” marks cases where an original notice could not be independently reopened or finality remains uncertain. Dates describe the relevant notice or service cutoff, not necessarily a completed legal dissolution.
| No. | Entry / Source | Funding in Chart | What the Evidence Says |
|---|---|---|---|
| 1 | Sophon | $73.3M | Chain retirement announced; the studio continues building applications on Base. |
| 2 | AscendEX | $63.7M | Operations and withdrawals suspended July 1 after a failed recapitalization; an unresolved suspension is not a completed liquidation. |
| 3 | Neon EVM | $45M | Development and team support ended October 1; migration and withdrawals have a December 31 deadline. |
| 4 | Loopring | $45M | L2 shut down; the team published an Ethereum asset-return plan. |
| 5 | BlockFills | $43M | Related entities filed for Chapter 11 restructuring, a different process from a simple product shutdown. |
| 6 | Movement | $41.4M | The original developer’s bankruptcy was reported; the network continues under Move Industries, according to its foundation. |
| 7 | Proof of Play | $33M | Studio announced it would cease operations and open-source code and art; the independent token foundation continues. |
| 8 | Yupp AI | $33M | AI model-comparison service wound down. This is an AI company backed by a crypto investor, not a blockchain shutdown. |
| 9 | Everclear | $28.7M | Foundation and labs announced a wind-down of the clearing protocol and operations. |
| 10 | Balancer | $27.2M | Governance approved a phased wind-down; major protocol sunset dates extend into October and November. |
| 11 | Entropy | $26.9M | Founder announced a wind-up and return of remaining capital to investors. |
| 12 | Ctrl Wallet | $26.6M | Sending, receiving, swaps and dApp connections ended August 3; recovery-phrase export was the stated exception. |
| 13 | Syndicate | $21.8M | Labs is winding down; the separate network collective and open-source code need distinct treatment. |
| 14 | Blast | $20M | Chain wind-down announced; October 26 ends the normal withdrawal interface, with a contract-based route planned afterward. |
| 15 | Slingshot | $18.1M | Report / limited primary access: Public registry records the standalone app sunset after Magic Eden’s acquisition; the original help notice is unavailable. |
| 16 | Zapper | $16.5M | Website, mobile apps and API services were scheduled to shut on August 3. |
| 17 | Tally | $15.5M | Company began an orderly wind-down and canceled its ICO; client transitions were part of the exit. |
| 18 | Legend | $15M | Company wound down after failing to reach sustainable scale; app shutdown was set for July 12. |
| 19 | Botanix | $11.5M | Network wind-down announced with a July 9 asset-withdrawal deadline. |
| 20 | Blur | $11M | Frontend retirement is scheduled for November 12; the marketplace protocol remains operational onchain. |
| 21 | Satori | $10M | Trading platform wound down with a position-closing and withdrawal window ending July 16. |
| 22 | Radiant | $10M | Active development stopped; maintenance, exits and recovery efforts continue during the wind-down. |
| 23 | POAP | $10M | Co-founder announced a company wind-down; existing onchain collectibles are not thereby erased. |
| 24 | Xociety | $7.5M | Live service, development and Web3 activity paused; a possible successor arrangement was being explored. |
| 25 | Opulous | $6.5M | Services wound down after a bridge-related incident; the notice distinguished depositor, music-rights and token claims. |
| 26 | Lisk | $5.8M | Lisk Chain closure is planned for October 31; the business is refocusing on a finance platform. |
| 27 | Parsec | $5.2M | Analytics platform announced closure after five years. |
| 28 | Mint | $5M | Chain ceased operations April 17; its stated asset-withdrawal deadline was October 20. |
| 29 | MilkyWay | $5M | The L1 was shut down; the team says bridged assets were returned to their canonical chains. |
| 30 | Angle | $5M | EURA and USDA are in an orderly wind-down, with redemption scheduled through March 1, 2027. |
| 31 | Router | $5M | Full operational wind-down announced, with a September 30 endpoint in its published plan. |
| 32 | Fantasy | $4.2M | Social trading-card platform ended operations, with final competitions scheduled for June. |
| 33 | Swell | $3.8M | Swellchain sunset; this is a chain exit rather than evidence that every Swell-related business ended. |
| 34 | Dango | $3.6M | Trading halted and the L1 wind-down followed; the team cited no viable commercial path. |
| 35 | Step App | $3.4M | Fitness app announced closure after four years; shutdown was scheduled for August 21. |
| 36 | Leap Wallet | $3.2M | Wallet suite and associated products were scheduled to sunset May 28. |
| 37 | Powerloom | $3.1M | Official documentation confirms the chain permanently stopped July 21 and the wind-down is complete. |
| 38 | ZeroLend | $3M | Team announced an orderly wind-down, citing weak chain liquidity, oracle support and unsustainable economics. |
| 39 | Hyli | $2.6M | Team closed the project before a viable launch; code remains open source. |
| 40 | Step Finance | $2.2M | Operations wound down after a treasury hack; financing and acquisition attempts did not produce an exit. |
| 41 | Genso | $2.1M | Service suspension was followed by a June agreement to transfer operations and prepare a restart; permanent death is not established. |
| 42 | Fireplace | $1.5M | Prediction-market terminal announced closure; its account-exit window ran through September 30. |
| 43 | Polynomial | $1.1M | Polynomial Chain and Trade shut down; the team canceled its token launch and signaled future work. |
| 44 | Paystream | $750K | Team announced shutdown and liquidation after multiple product iterations. |
| 45 | Trepa | $670K | Final prediction round was set for August 12; app withdrawal access ended September 30. |
| 46 | Carrot | $600K | Wind-down announced after the Drift incident damaged its ability to continue operating. |
The Four Parent-Company Funding Tiles
These figures belong to the named parent organizations in the graphic. They should not be described as sums raised exclusively by the retired product, or added to the $727 million project-level total.
| No. | Entry / Source | Parent Funding in Chart | What the Evidence Says |
|---|---|---|---|
| 47 | zkEVM | $451M | Polygon confirms the zkEVM Mainnet Beta sequencer sunset; Polygon’s other businesses and networks continue. |
| 48 | ME Wallet | $160M | Magic Eden retired its wallet and Account Wallet products; this is not a closure of the entire company. |
| 49 | Zero Network | $22.5M | Zerion retired its gasless L2 while continuing wallet and API products. |
| 50 | Abstract | $20M | Network shutdown is scheduled for December 15; Igloo is refocusing on Pudgy Penguins. |
The Other 32 Names in the Graphic
DropsTab prints no funding amount for these entries. The absence of a number does not establish zero financing. This section also shows why a single “dead projects” count can conceal product migrations, group-level overlap and disputed classifications.
| No. | Entry / Source | What the Evidence Says |
|---|---|---|
| 51 | Dmail | Team announced the end of its five-year project and linked a farewell notice. |
| 52 | Odos | Operating company wound down; services ended July 30, while noncustodial assets remained onchain. |
| 53 | BitMEX | Exchange announced a phased exit and September 23 trading closure; remaining withdrawals have separate arrangements. |
| 54 | BitMart | Trading wind-down announced; final platform cessation was scheduled for January 31, 2027. |
| 55 | CoinEx | Exchange announced staged cessation, with withdrawals scheduled through December 22. |
| 56 | CoinEx Chain | CoinEx’s cessation notice includes CoinEx Smart Chain; this is linked to the same group exit. |
| 57 | Bit.com | Report / limited primary access: Reported phased closure ran through March 31; the announcement originated in December 2025. |
| 58 | Ionic | Protocol announced immediate cessation following the effects of its 2025 exploit. |
| 59 | Foundation | Marketplace says it is offline and will not resume operations after a planned sale failed. |
| 60 | Phi | Onchain identity services were scheduled to go offline May 25; PHI itself remained onchain. |
| 61 | SecondFi | Official help center confirms cessation after a June security incident, with asset migration instructions. |
| 62 | Genome | Report / limited primary access: Reported likely wind-down; the original cited X post is unavailable, so final closure is not independently established here. |
| 63 | Intergaze | Rollup wind-down announced with a bridge-exit window and a separate NFT migration to Stargaze. |
| 64 | Nifty Gateway | Gemini retired the NFT platform; the parent company’s wider operations are separate. |
| 65 | Ventuals | Markets were settled and halted as the team chose to join another Hyperliquid ecosystem project. |
| 66 | Shipyard | Shipyard ended its funded IPFS engineering and infrastructure work; this does not mean IPFS itself shut down. |
| 67 | Pudgy Party | Game development wound down as Pudgy Penguins concentrated on Pudgy World. |
| 68 | 77-Bit | Development paused indefinitely; a small core remained while funding or acquisition options were sought. |
| 69 | Fishing Frenzy | Uncharted and its game announced cessation, with a June 25 server shutdown. |
| 70 | Seamless | Team and interface wound down; underlying contract access requires separate consideration. |
| 71 | Full Sail | Protocol announced a wind-down after a security incident; later codebase-transfer talks do not establish a completed relaunch. |
| 72 | OneSwap | Included in CoinEx’s group cessation schedule alongside its exchange and chain. |
| 73 | Soundness | Labs announced closure; public code and the broader technologies it researched are separate. |
| 74 | Megaphone | Contribution Labs says the platform is no longer operating and customer data was handed to partners. |
| 75 | Fey | The original Fey Protocol website confirms shutdown in February; similarly named later products are distinct. |
| 76 | DataHaven | Report / limited primary access: Shutdown reported, including a decision not to force a token launch; the original website could not be reached during review. |
| 77 | Luckio | Onchain casino announced closure and directed users to withdraw Smart Vault balances. |
| 78 | Pixiland | Web3 retreat was announced, but a later official update paused the Web2 transition while negotiating a service transfer. |
| 79 | Pixel Heroes | Report / limited primary access: Studio layoffs and shutdown were reported; a later report described service-transfer discussions. Final continuity is unresolved here. |
| 80 | Beets | Disputed entry: Beets explicitly said it was not winding down and continued publishing Sonic product updates. |
| 81 | Xenea | A wallet discontinuation notice and a later project notice described difficulty continuing operations; legal outcomes were not finalized. |
| 82 | Remora | Step Finance subsidiary announced immediate wind-down and preparation of a USDC redemption process. |
The Exit Instructions Matter More Than the Label
Shutdowns can affect a trading interface, the company operating it, a blockchain sequencer, a wallet app or a legal entity. Those layers have different consequences. A noncustodial contract may remain accessible after its usual website closes; a halted chain may require a dedicated recovery process; and a custodial exchange can face a court-supervised claims process.
CoinScreamer’s Blast coverage explains the October 26 interface cutoff and the planned contract-based withdrawal route afterward. Our Abstract report covers a different warning: the network says assets left after December 15 will become inaccessible. Those deadlines should not be treated as interchangeable.
More recent exits outside this graphic’s 82-name directory include Echo Protocol and StandX, which announced separate lending, trading and withdrawal timetables. By contrast, Nillion’s L2 retirement accompanies a move of operations to Ethereum rather than an end to the project. These examples are context, not extra entries added to DropsTab’s count.
The graphic is a useful starting point for examining what venture funding built and what users are left with. Its strongest conclusion is that prominent backers and a large raise do not guarantee an enduring product. Establishing an industrywide failure rate, a total investment loss or the fate of every underlying token requires evidence beyond this list.
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