Skynet developer Skynet Labs shuts down after failing to secure new funding

Skynet Labs, the developer of the decentralized storage and application hosting platform Skynet, has announced it is shutting down after failing to secure new funding, CoinDesk reported. Skynet will continue to operate as a platform. The company has halved its workforce and will further lay off workers next month. Skynet Labs, formerly known as Nebulous, raised $3 million in development funding in 2020 in a funding round led by Paradigm.