Derby Race Game to Shut Down on April 7, 2025
Derby Race, the blockchain-based horse racing game, will officially shut down on April 7, 2025. The closure also marks the end of Derby Stars, a web3 gaming project developed by Hypedream. PD Ham Seon-woo, CEO of Hypedream, explained the reasons behind the shutdown in a detailed farewell letter, citing financial and emotional difficulties.
End of Access and Rewards
- Players will no longer be able to access Derby Race after April 7.
- No further minting of $Race tokens will occur, and players cannot exchange or claim rewards from wRace or Race Points.
- In-game wallets will be disabled, prompting players to transfer their wallets to external services like MetaMask using the PK Export function.
Guide for Exporting Private Keys
To assist players in transferring their in-game wallets, Hypedream has provided a step-by-step guide:
- Click on the profile icon at the top right corner of the Earn tab.
- Navigate to ‘My Page’ and click on your wallet address (0x0).
- Select ‘Manage Wallet’ followed by ‘Export Private Key’.
Challenges Leading to Closure
Following months of uncertainty, the decision to shut down Derby Race and Derby Stars was influenced by several challenges faced by the Hypedream team:
- Terra Crash Triggered Initial Collapse: The collapse of the Terra ecosystem in early 2022 led to a significant loss of NFT revenue and seed funding for Hypedream.
- Health Crisis and Team Layoffs: A health crisis and subsequent layoffs impacted the team’s ability to sustain operations and development efforts.
- No Recovery, No Further Roadmap: Despite multiple attempts at recovery and alternative monetization strategies, Hypedream was unable to secure new investments or funding.
Final Apology and Gratitude
In a heartfelt message, PD Ham expressed regret for not meeting the community’s expectations and took responsibility for the project’s shortcomings. He commended the team’s dedication and thanked the Derby community for its support. The letter concluded with a message of gratitude and well-wishes for the community’s future success and happiness.
