Digital art platform MakersPlace has announced its decision to shut down due to ongoing challenges in the NFT market and difficulty in securing additional funding. The platform operated as an NFT marketplace, allowing artists and collectors to create, buy, and sell digital artworks. As part of the shutdown, MakersPlace has disabled new account creation and token imports, but existing artworks will remain available for purchase for a limited time. The company has pledged to assist artists and collectors in transferring their assets and ensure employees receive severance payouts. The closure reflects the broader challenges faced by the NFT market, as trading volumes and sales have declined in recent years.



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