"It is with great sadness that I have to inform you that MEDIA Protocol has been put in to administration by its Board of Directors which is comprised of professional directors from the Fiduciary Group based in Gibraltar. Sadly we will be unable to offer any return of contributions made.
As you know, the management of MEDIA Protocol has been attempting to raise an equity round. Despite our best efforts over the past few months we have been unable to fill this round and the market has continued to prove challenging. The Fiduciary Group offers professional company director services in Gibraltar and the Board of MEDIA Protocol is no longer able to give the business more time to raise additional funds. MEDIA Protocol was placed in to administration last week.
We would like to thank you for believing in MEDIA Protocol, and for showing faith in our vision to change the way data and value move across the internet. If you would have any questions please feel free to reach out to myself. From early next week we shall be notifying our community and winding down our social channels.""
So the project failed?
How could you even come up with a different interpretation? They said it has failed as they couldn't secure funding.