To the Exalted fam,

We are sorry to say that our adventure ends here.

• We took a snapshot and next week we will be issuing out refunds to all of the current holders according to the last sold price. (i.e - if you minted and held until now you will receive 0.08 eth [mint price] or if you bought on secondary at 0.50 then you will receive a refund of 0.50 eth)
• Please visit our website: www.exaltednft.com , where you can connect your wallet and it will show you the corresponding amounts that need to be refunded and ask you to verify that everything is correct. If we don't get any corrections, we will assume that everything is correct and disburse the funds.
• No actions, claims, or transfers needed to receive the refund. We will be sending it directly to the addresses connected that are holding the NFTs.

Please understand that we do not take this decision lightly. We have put maximum effort into building this project over the past 7 months and we've thought long and hard about the different scenarios and how everything could play out in the near future and beyond.

In the end, all it came down to was one question, "given everything we know about our resources, possible avenues to generate value, and the markets, what would we want if we were in their position?"

The answer was, "we would want our money back."

We did consider this very situation where we would have to bootstrap, we did spend time exploring different pivots (maybe too much time), and it's regretful to say that while the potential was there, each pivot came with its own set of issues that made them unrealistic to deliver in a reasonable time period.

So, if we can't deliver value while we develop the game, then we can at least give them (you) the money back.

What about the game?

Like most P2E games currently, our vision of The Exalted and the mechanics surrounding it have lost favor in the space. The chance of turning things around in the near future have gotten so low with this market that we no longer felt comfortable making the bet especially with funds from our holders.

We can still re-strategize and build out everything we want and will likely do so, but we will not do it while keeping you waiting. If our assumptions end up being right, then there's no reason we can't reach out and relaunch in a better climate.

Now for refunds.

A snapshot was taken last night at 4 AM PST.

A week from now, we will issue refunds to all our holders based on the last sold price of their NFT.

Why the last price that it sold for?

It was difficult to find a fair way to refund everyone, but ultimately, it came down to making sure our current holders were made whole. There were several holders that bought rares way above floor price and it wouldn't be fair to them to just give them a mint price refund.

Even though our refund total is technically above what we raised in ETH at mint (~34 ETH), this is the only way that makes sense.

After paying out liabilities over the past 2 months, we were still short 60% of what is needed. To supplement the remaining amount we will be taking it out of our personal savings in order to successfully give everyone a full refund.

At the very least we wanted to do our best to make everyone that is still here as whole as we can.

The future moving forward...

Please do hold onto your NFT.

Down the line if we decide to revive the project, pivot into something different, or create something brand new, we will honor all of you that have stuck around.

We won't forget the support you have given us

We aren't leaving the space and we will make a comeback one way or another. It's been a relatively short time building The Exalted but the experience of building it alongside of you all will last a life time.

We wanted to be sure that this was what needed to be done.

We hope that overall this experience was a positive one, but completely understand if it was not. Feel free to voice your opinions. Our DMs are open on Twitter.

Thank you for everything, The Exalted Team 🗡

What is next? (6.20.2022)

After posting the above announcement in our Discord we were blown away by the dozens of heartfelt messages by our Genesis holders 🙏 We really didn’t know what kind of reaction we would get when making the decision but after reading everyone’s replies we believe we ultimately made the right choice.

Ever since the first member joined our Discord server we vowed to uphold a certain level of ethics and principles that we believed that people who genuinely cared about the space really wanted.

Many of those held us back at times from growing faster or “selling out” but we achieved our goal of staying true to ourselves and attracted a community of people who saw the value in what we were building and how we were building it.

On a personal level that is a win for us all on it’s own.

We are extremely grateful for each and every one of our members and we look forward to running it back in a bigger and better way.

We will be leaving our Discord open for those that want to continue to have a place to chat with us and the rest of the Exalted community.

As for the team…

Thank you to our amazing mod team! They were the lifeblood of our team and we couldn’t have gotten to where we were with out them. If any other projects or teams happen to read this far I would gladly give a 5-star recommendation for anyone of them. Sheli, Dabomb, Lonewolf, Dimsum, Dyl, Rocketjr, Smael, Sukro, & Verkatze.

For our amazing artist Camila she will continue to create the best pixel art in the entire space! Working alongside of her was a fantastic experience and I can’t wait to see all her future artwork and creations!

It’s time for myself (0xindefinite) and alexanderjchun (lead dev) to go back to leveling up our skills and planning out the next phase of our adventure. We both gained a lot of valuable insight and experience building The Exalted together so whether it’s in this project or something new; we will make a successful comeback. Guaranteed.

This chapter may be coming to an end but the story is far from finished.

We hope to see you around and thanks for everything.

• The Exalted Team