Youre Family and Youre Games File for Bankruptcy Protection
Youre Family, the company behind the cryptocurrency GamesCoin, has filed for bankruptcy at the district court in Berlin-Charlottenburg. The same applies to Youre Games. Shortly before, a critical article about GamesCoin had appeared in "Wirtschaftswoche". The GamesCoin project is being further developed.
Youre Family and Youre Games are insolvent. By order of the Local Court of Charlottenburg in Berlin on 7 February 2025, measures have been taken to protect creditors of both Youre Family GmbH and Youre Games GmbH. Additionally, Dr. Philipp Grauer has been appointed as the provisional insolvency administrator for both companies.
Youre Family and Youre Games are insolvent. By order of the Local Court of Charlottenburg in Berlin on 7 February 2025, measures have been taken to protect creditors of both Youre Family GmbH and Youre Games GmbH. Additionally, Dr. Philipp Grauer has been appointed as the provisional insolvency administrator for both companies.
The court’s decision and the potential insolvency proceedings provide the parties involved with time and an opportunity to seek fresh capital, possibly from new investors. However, a recent article (in German) in the German business magazine "Wirtschaftswoche", published just days before the application for insolvency proceedings was filed, is unlikely to be helpful in this regard.
The "Wirtschaftswoche" article takes a critical look at the development of the cryptocurrency GamesCoin. Among other things, it scrutinizes the network of companies behind GamesCoin. In addition to Youre Family and Youre Games, which are responsible for developing and operating a gaming platform based on GamesCoin, the article also mentions the Swiss blockchain company Valchain and the Independent Digital Assets Alliance from Dubai.
A press release from the Youre Family states: "Despite intensive development work, key technical milestones fell short of expectations. This presented the company with enormous economic challenges. As part of the insolvency proceedings, it is now being examined how the existing technologies and structures can be used in the best possible way. Talks with potential investors are already underway."
The statement, which GamesMarkt has also obtained, continues: "The GamesCoin ecosystem was and is still in the development and investment phase. It is actively shaped not only by Youre, but also by many other companies and participants. Therefore, the GamesCoin ecosystem is not endangered by the insolvency of Youre Family."
Youre Family GmbH is a company in the field of digital gaming technologies with a focus on networked gaming experiences. The goal remains to successfully expand the games ecosystem. Youre contributes its technological expertise and know-how to actively support this process. At the same time, talks are already taking place with potential investors to strategically advance the next steps.
At present, Youre Publishing, based in Berlin, and Lootboy GmbH, based in Hamburg, do not appear to be affected by the insolvency. As of now, no corresponding applications or court orders have been filed against them.
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The court’s decision and the potential insolvency proceedings provide the parties involved with time and an opportunity to seek fresh capital, possibly from new investors. However, a recent article (in German) in the German business magazine "Wirtschaftswoche", published just days before the application for insolvency proceedings was filed, is unlikely to be helpful in this regard.
The "Wirtschaftswoche" article takes a critical look at the development of the cryptocurrency GamesCoin. Among other things, it scrutinizes the network of companies behind GamesCoin. In addition to Youre Family and Youre Games, which are responsible for developing and operating a gaming platform based on GamesCoin, the article also mentions the Swiss blockchain company Valchain and the Independent Digital Assets Alliance from Dubai.
A press release from the Youre Family states: "Despite intensive development work, key technical milestones fell short of expectations. This presented the company with enormous economic challenges. As part of the insolvency proceedings, it is now being examined how the existing technologies and structures can be used in the best possible way. Talks with potential investors are already underway."
The statement, which GamesMarkt has also obtained, continues: "The GamesCoin ecosystem was and is still in the development and investment phase. It is actively shaped not only by Youre, but also by many other companies and participants. Therefore, the GamesCoin ecosystem is not endangered by the insolvency of Youre Family."
Youre Family GmbH is a company in the field of digital gaming technologies with a focus on networked gaming experiences. The goal remains to successfully expand the games ecosystem. Youre contributes its technological expertise and know-how to actively support this process. At the same time, talks are already taking place with potential investors to strategically advance the next steps.
At present, Youre Publishing, based in Berlin, and Lootboy GmbH, based in Hamburg, do not appear to be affected by the insolvency. As of now, no corresponding applications or court orders have been filed against them.
