Launched in 2018, the company was once a major player in the digital art scene but announced its closure on January 15, signaling further fallout from the ongoing slump in the NFT market.<\/p>\n
While minting and account creation have been disabled<\/a><\/strong>, users can still purchase NFTs until the platform fully shuts down. A transfer tool, set to launch in February, will allow users to move their assets elsewhere, with the deadline for transfers set for June 2025. NFTs minted on Ethereum will remain accessible through secondary marketplaces.<\/p>\nMakersPlace previously raised $30 million during the 2021 NFT boom, backed by Pantera Capital, Coinbase Ventures, and others. Despite this, the market downturn proved insurmountable. The company has pledged to return unused funds to investors and provide severances to employees.<\/p>\n
MakersPlace previously raised $30 million during the 2021 NFT boom, backed by Pantera Capital, Coinbase Ventures, and others. Despite this, the market downturn proved insurmountable. The company has pledged to return unused funds to investors and provide severances to employees.<\/p>\n