Hyperspace Shuts Down Solana Platform: What’s Next?

🔹 Hyperspace, a multi-chain NFT marketplace and launch site, has announced that it is shutting down its Solana (SOL) platform. The full shutdown is scheduled for September 17, 2024. Users are advised to withdraw their NFTs before that date.

🔹 In addition to shutting down the Solana NFT site, the platform will also shut down its API starting September 17.

🔹 Launched in 2021, Hyperspace has grown rapidly despite the NFT market slowdown in 2021-2022. However, it is now also shutting down its Sui (SUI) marketplace.

🔹 While the NFT market is struggling, projects like CryptoPunks and Bored Ape Yacht Club remain at the top in terms of sales and volume.

🔹 A recent report showed that nearly 96% of NFT projects are dead, with 43% of holders losing money. Regulatory concerns are also playing a role, such as the recent SEC notice to OpenSea.

What do you think about the future of NFTs? Share your thoughts in the comments! 💬