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FCP error: Project is unreadable or too new for this version

If you're getting the error message "Project is unreadable or may be too new for this version of Final Cut Pro" when you try to open a particular project, it may be due to one of three reasons:

1. The project was created with a newer version of Final Cut Pro. Make sure you have the latest version, or alternatively ask the person who gave you the project to export an XML file that you can import into an earlier version.

2. The project's metadata may be invalid. Use Project Repair to fix this.

3. The project is corrupt. There is unfortunately no fix for this. You will need to restore the project from a backup or autosave. Our FCP Versioner software automatically backs up your project every time you save it, and Autosave Cleaner can archive autosaves so that they are never automatically deleted by Final Cut Pro.