Solsniper, an analytics and trading platform on Solana, announced the closure of its NFT marketplace after 3.5 years of operation.
Closure of Solsniper NFT Marketplace
On June 13, Solsniper revealed it was shutting down its NFT marketplace and delisting tokens. The shutdown occurred at noon PST, and users will be informed about the refund of rejected bids and orders.
CEO's Position on Future Plans
The CEO of Solsniper clarified that the platform is not shutting down completely but only closing its NFT activity. He mentioned that the platform struggled to manage the NFT marketplace effectively and is preparing to refund users.
NFT Market Trends
Recent data from DappRadar indicates a 63% decline in NFT trading volumes since December 2024. This decrease mirrors previous patterns in the market, where several well-known platforms also ceased operations due to falling interest.
The closure of Solsniper's NFT products highlights the ongoing challenges in the NFT market, where a decline in interest and trading volume is evident.
