Dear #StellarHood citizens. Today we have no good news for you. The end of project development or how the European Union is killing innovation Due to the new European MiCA regulations, which came into force on 1 July 2024, the Stellar Hood Game project cannot continue as planned. The utility NFTs (e.g. Starbases and Modules) that form the basis of the current game and future planned development are considered "serial NFTs" and are therefore subject to regulation under MiCA. Among other things, MiCA requires companies to register as crypto service providers. This is currently an insurmountable regulatory requirement for us. MiCA also requires the establishment of customer KYC, which we believe would not be appropriate for the majority of our players. Although the MiCA regulation seems to leave room for interpretation and case law on some points, the risk of being involved in an extremely costly court case, which could result in drastic fines if lost, is simply too high for our small company. Under these circumstances, and after weeks of careful consideration of our legal options, we feel compelled to take the following actions: NFT related feature updates already in development but not yet released will be cancelled. Further game development will be halted. Sales of Module NFTs will cease by the end of July. In order to continue the development as planned (according to the roadmap), we would have to find a non-European partner or an investor who is willing to take over the project (feel free to reach out!). We understand that this is not the news you wanted to hear, but we share your disappointment - months of work on the current content update and years of planning have now been rendered worthless. However, the end of development does not mean the end of the game. The servers will remain online, bugs will be fixed, and no current game mechanics will be affected. You can use your existing NFTs as usual. Other options are being explored. Useful article: osborneclarke-fintech.com/20…