Hello everyone,This is Yoshiyuki Kumon from enish.
It has been just under two months since our last letter. We sincerely apologize for the delay in providing this update.
At the turn of the year 2025, the price of GEEK experienced a significant crash, followed by a continued decline. By April, GEEK was delisted from two exchanges. The impact of this has been considerable, and over the past two months, we have been holding extensive discussions on how we can recover from this situation. First and foremost, we would like to apologize for not being able to share information with you during this time.
This letter is intended to outline our future direction and planned measures concerning GEEK and this project/title.
To be honest, we understand this news will deeply disappoint many of you who have supported us until now. Even so, we’ve done everything we can within our means as a company. Please allow us to explain.
Basic Policy
We have decided to terminate all services that allow new acquisition of GEEK.Consequently, all features that generate new xGEEK(earn) will also be stopped.
While GEEK-related services will become unavailable, we’ve established a new policy that allows the game to continue as a free-to-play title.
Details of Each Action
Starting from the June 13 update, all services related to GEEK will become unavailable. Please review the following list of measures.
Features and Services to Be Discontinued (Already Implemented)
In the Last Memories App:
・Termination of GEEK conversion (within Wallet)
(menu to be removed in the next update)
・Termination of the GEEK Shop (within Wallet)
(menu to be removed in the next update)
・Engraving BOX drops disabled
・Termination of NFT Starter Pack sales
・Engraving BOX removed from PvP rewards and Battle Point rewards
・Engraving BOX removed from GEEK Holding Rewards
My Page (Web):
・Termination of xGEEK purchase service
Last Memories mini:
・Termination of the NFT exchange function in Missions and Exchange
Features and Services Scheduled for Modification or Termination
Currency Adjustment in Marketplace:
The type of xGEEK received from selling NFTs will be changed from xGEEK(earn) to xGEEK(lite).
Early Termination of GEEK Airdrop:
Due to the shutdown of GEEK-related services, the remaining scheduled airdrop amounts will be distributed over one week (June 14–20).
Cancellation of Ronin Integration:
All Ronin-related developments will be canceled, including the planned issuance of LITHE.
Features That Will Continue
・GEEKBOX drops triggered by using already purchased NFTs
・Distribution of Engraving BOX bonuses for pre-release bulk NFT purchases
・NFT/token transfers within Wallet (deposit, receive, send)
・Continuation of GEEK Holding Rewards
(Note: Engraving BOX distribution will end, but the program itself remains)
Additional Measures for GEEK Holders
In response to this policy decision, we will implement the following additional measures.
Limited-Time xGEEK → GEEK Conversion Reservation
From June 14 to July 14, for a period of 30 days, you will be able to reserve GEEK by depositing xGEEK in advance via the newly established “GEEK Conversion Reservation” section in your wallet.
The reserved GEEK will be distributed in bulk by July 21, after the reservation period ends.
・Conversion Rate: 30,000 GEEK per 1 xGEEK
(At the time of reservation, all deposits will be accepted based on a fixed conversion rate.Please note that this rate differs significantly from the rate at the time of GEEK’s delisting.)
Eligibility Notes:
・Only accounts that completed the tutorial by April 30, 2025 at 04:00 JST are eligible.
・Even with the same Wallet address, newly created accounts are not eligible.
・No cap on the number of times or total amount for reservations.
・After this period, xGEEK can no longer be converted to GEEK.
Permanent xGEEK(lite) Bonus Increase for xGEEK(earn) Purchases
Going forward, when you use xGEEK(earn) for purchases, the xGEEK(lite) bonus will be increased from 40% → 50%.
About SBT Holder Benefits
Distribution of Physical Goods for Pre-sale Purchases
If you acquired the SBT “Founding Co-Creator Badge” (for holding 100 or more NFT Dolls) or the SBT “Founding Explorer Badge” (for holding 50 or more NFT Dolls) during the NFT Doll pre-sale, and are eligible for the associated benefits, please submit your preferred reward via the application form below.
NFT Doll Pre-sale Physical Goods Reward Application For※ Shipping is expected to take place approximately 1.5 months after the application period ends.
※ Application form will be open until Wednesday, June 25, 2025 at 11:59 PM (JST).
Monthly Distribution of NFT Dolls and NFT Equipment
Distribution will continue through August 2025, in accordance with the original one-year airdrop period.
Eligible SBT
・Order of The First Joint Seekers
・Order of The First Co-Founders
That concludes our explanation of the future of GEEK and Last Memories.
Since multiple companies are involved in this project, it is difficult to fully convey all the background details that led to the conclusions presented in this letter regarding GEEK.
However, to put it simply, we believe the primary reason was that we placed too much emphasis on boosting short-term earning efficiency.
Although we have made continuous efforts to improve the situation — including a comprehensive review of the overall tokenomics — our efforts were ultimately insufficient, and we regret that this led to a gradual decline in the price of GEEK.
Since the early stages, we held repeated AMAs and were fortunate to get to know many of you personally — even remembering names and recognizing familiar faces who joined us regularly. We received so much heartfelt support and encouragement along the way.
Despite that, due to our shortcomings, we have come to the difficult decision to halt our Web3-related developments.
We are truly sorry.
That said, Last Memories will continue as a free-to-play game.
If you’re still willing to enjoy it, we would be deeply grateful.
And though it’s very delayed and we feel terrible about it, we will absolutely deliver all promised NFT pre-order bonuses—please bear with us just a little longer.
If you have any feedback, we’d love to hear from you: (We may not be able to respond individually, but we read everything.)
Thank you again for your continued support of Last Memories.
Executive Producer,
Yoshiyuki Kumon
