MakersPlace, a digital art platform, announced that it will cease operations to support artists and collectors in a smooth transition

According to the official announcement from MakersPlace, due to ongoing market challenges and financing difficulties, the digital art platform has announced that it will cease operations after six years of operation. Starting today, the platform will disable the functions of minting, token import, and new account creation, but art purchases will temporarily continue. Artists and collectors are required to transfer their works from the MakersPlace custodial wallet to their personal wallet before June 2025, and the relevant tools will be launched 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 can still be accessed through the secondary market. Digital artist Beeple responded to the news of MakersPlace ceasing operations, expressing regret and gratitude for the platform's push into the digital art field, which has had a huge impact on his career.