New MakersPlace accounts were disabled immediately, but users can still purchase NFTs on the platform until it shuts down completely.
MakersPlace, a digital art platform specializing in non-fungible tokens, is shutting down amid a sharp drop in the NFT market. The company, launched in 2018, announced its closure on Jan. 15 after six years of operations.
“Ongoing market challenges and funding difficulties have made it impossible to sustain operations while fulfilling our mission,” MakersPlace’s content manager, Brady Evan Walker, said in the announcement.
MakersPlace’s shutdown is another indication of an ongoing slump in the NFT industry, which plummeted to its worst performance levels since 2020 in 2024.
