Digital art platform MakersPlace announces it will cease operations to support a smooth transition for artists and collectors

MakersPlace, a digital art platform, has announced that it will cease operations after six years due to ongoing market challenges and difficulties in obtaining financing. As of today, the platform will disable its casting, token import, and new account creation functions, but the purchase of artwork will continue temporarily. Artists and collectors must transfer their work from MakersPlace's hosting wallet to their personal wallet by June 2025, and related tools will be available in February. MakersPlace stated that unused funds will be returned to investors and fair severance pay will be provided to employees. All Ethereum NFTs on the platform can still be accessed through the secondary market.