Weeks after announcing a new web3-based direction for the company that captured national media attention from Forbes and Fox Business, Madison-based music technology startup LÜM said it’s shutting down.

“It is with great sadness that we announce that LÜM will be closing its doors, effective immediately,” the company posted on its LinkedIn page Friday.

LÜM CEO and a 2020 Wisconsin Inno Under 25 winner Max Fergus declined to immediately share details in an interview, saying the company would be posting the full story this week.

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