According to Huoxing Finance, on July 3, the Solana-based art marketplace Exchange Art announced it will permanently shut down on August 1. Due to prolonged market stagnation in on-chain art and the inability to establish a sustainable financial model, Exchange Art has decided to cease operations. Users are urged to access their accounts before shutdown to retrieve necessary information; all artworks and funds held in the platform’s sales and custody contracts will be released to their respective owners prior to closure. All artworks have been minted on the Solana blockchain and can be imported to other marketplaces; artists and collectors need take no additional action to ensure the security of their assets.
Solana Art Market Exchange Art to Cease Operations on August 1
MarsBitShare
Summary
Based on on-chain news, the Solana-based art marketplace Exchange Art will shut down on August 1. The platform cited a prolonged downturn in on-chain art markets and insufficient sustainable funding. Users must access their accounts and retrieve their data before the closure. All artworks and funds held in smart contracts will be released to their respective owners. The artworks, already minted on Solana, can be transferred to other platforms. No exchange hack has been reported.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.