The digital art platform MakersPlace has announced that it will cease operations, supporting artists and collectors for a smooth transition

ChainCatcher news, MakersPlace announced that due to ongoing market challenges and funding difficulties, the digital art platform will cease operations after six years. Effective immediately, the platform will disable minting, token imports, and new account creation, but art purchases will continue temporarily. Artists and collectors must transfer their works from the MakersPlace hosted wallet to personal wallets by June 2025, with related tools set to launch in February.

MakersPlace stated that it will refund unused funds to investors and provide fair severance pay to employees. All Ethereum NFTs on the platform will still be accessible through the secondary market.