By Michael Scott
Digital Distro has announced mulling shutting down the Web3 user feature from its platform to survive the current crypto market condition. The consulting firm assured the crypto community to restore the suspended digital assets features once the market recovers.
Battling the Bearish Market
The unprecedented crypto market has forced companies to pursue alternative cost-reduction techniques to maintain their operation.
The popular consulting firm Digital Distro follows the footprints of other struggling crypto firms by removing the Web3 user manual from its portal. Initially, the Web3 provider offered crypto-learning materials equipping investors with basic principles and fundamentals of digital assets.
The company also provided the trader best methods of incorporating blockchain technology into their ongoing projects. These remarkable efforts made by consulting firms aimed at improving user experience in the digital world.
However, the rough crypto winter and ailing market have influenced Digital Distro to put aside projects related to NFT, DeFI, and Blockchain.
Digital Distro CEO Remarks
While other crypto firms announced massive lay-off plans to reduce expenses, Digital Distro takes a unique route to survive the crypto market turmoil. The consulting firm is the first to make moves in terminating Web3 services since the bears resurfaced in the crypto realm.
A statement issued on January 24 by Web3 provider chief executive Andrew Lane confirms that most crypto assets, such as NFT and blockchain, are at the preliminary stages of development. He regrets the uncertainty engulfing the crypto space. Lane restated that the consulting firm would focus more on its core businesses, including filming programs and music projects, to safeguard the interest of the shareholders.
He proclaimed that until the crypto market regains stability, the firm will neither pursue crypto-related activity nor engage in any memorandum of understanding arrangement with key digital market players.
Digital Distro Unexpected Moves
Besides offering Web3 products, Digital Distro provides a complete film, music production package and an exclusive brand influence category.
According to the CEO report, he assured the stakeholders that the firm has several films and music at the final production stage, which will generate a substantial amount for the firm after completion. Lane remains hopeful that this year most pending projects will materialize.