MakersPlace, a digital art platform focused on NFTs, is shutting down due to a significant downturn in the NFT market. The company, established in 2018, announced its closure on January 15, 2025, citing ongoing market challenges and funding difficulties as key reasons. Users can still buy NFTs until the platform completely closes and will have access to a transfer tool starting February 2025 to offload their assets until June 2025. All NFTs minted on Ethereum will remain available through secondary marketplaces. MakersPlace raised $30 million in 2021 amid the NFT boom but now joins several other NFT marketplaces that have shut down in recent years, including Recur and Voice, largely due to market decline and regulatory uncertainties. Despite the downturn, some industry figures believe NFTs may rebound strongly in the future.

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