NFT
The NFT marketplace at Mint Square will close on June 3. The team has yet to explain the decision, but this could be due to poor traction.
Mint Square’s NFT marketplace will stop trading from June 30, the team announced via Twitter on June 6. The team explained that buying and selling would continue until that date, after which trading would no longer be possible.
Mint Square NFT Marketplace is shutting down
Mint Square gave no explanation as to why it closed the marketplace. It may be possible due to poor performance. Several NFT marketplaces have shut down in recent times.
In February, WazirX shut down its NFT marketplace due to poor traction. Around the same time, the Solana NFT marketplace Formfunction also closed. Then there’s CNN, the broadcaster that dropped its NFT project late last year.
Mint Square is an NFT marketplace that runs on Ethereum layer-2 ZK rollups based networks such as StarkNet and zkSync Era.
Because they were on a Layer-2 network, NFTs on Mint Square were cheaper and faster to confirm. Top collections at Mint Square include Stark Agents, Starkpunks, and StarkRock.
Top NFT collections of all time. Source: Muntplein
The Argent wallet team previously stated that the NFT marketplace had disabled it coins due to bot activity.
NFT market recovers slightly
In addition to the Mint Square NFT marketplace, the NFT market has been doing slightly better in recent months. It’s still nowhere near its peak volume, but a few developments have improved things. The Blur marketplace is currently leading the market with 7-day volumes over 38,000 ETH
One such development is Japan’s largest airline, ANA, deciding to launch an NFT marketplace. Louis Vuitton has also decided to release $42,000 worth of NFTs that are physically backed.