Core Insights - The crypto industry presents significant challenges for entrepreneurs due to evolving technologies, shifting customer interests, and complex products [1] - Be Hero Network (BH Network), a European-compliant Web3 hub, announced its closure on September 15 after nearly five years of operation [1][2] Company Overview - BH Network provided a Web3 launchpad and an NFT marketplace, assisting crypto firms in onboarding MultiversX and EVM blockchains [2] - The decline in the value of MultiversX's native token, eGLD, and the overall volatility in the crypto market severely affected BH Network's liquidity, leading to its closure [2] Product Performance - BH Network launched five products over its operational period, with only BHero and xAudits achieving some level of success [3] - The firm will continue to offer xAudits on-demand under a new company, while all other products and services will be discontinued [3] Challenges Faced - Intense competition and a prolonged bear market following the Terra (LUNA) crash contributed to the difficulties faced by BH Network [3] - The company's statement highlighted that some products were launched before the market was ready for them, which was a significant factor in its failure [4]