MakersPlace NFT ceases operations and liquidates investors and employees

MakersPlace, the famous NFT marketplace where you can create, sell, and collect digital artwork, has announced it will close its operations after six years. The company promises a return of unused liquidity to its investors and liquidation to its employees. 

MakersPlace: the famous NFT marketplace closes its business and exits the market

MakersPlace, the well-known NFT marketplace where you can create, sell, and collect digital artwork, has announced that it is closing its operations. 

“MakersPlace announces its exit from the market. After 6 incredible years of supporting digital art, MakersPlace ceases its activities. Here’s what it means for our artists, collectors, and supporters and how we are ensuring a smooth transition.”

In practice, the mission to support the digital art of MakersPlace seems to be encountering various difficulties that prevent it from continuing with its activity. 

Therefore, after six years of service and collaboration with artists and collectors, MakersPlace has come to its difficult decision to exit the market.  

At the moment, the company has disabled minting and importing tokens, as well as the creation of new accounts on MakersPlace. However, artworks can still be purchased, but no new exhibitions will be launched, whether digital, at art fairs, or live events.

MakersPlace NFT closes but liquidates investors and employees

From what has emerged, it seems that the Board of Directors of MakersPace has made some decisions on how to deal with investors and employees. 

Here is how the text reads:

“We will return the unused liquidity to investors, offer employees a fair severance, and ensure an orderly closure of MakersPlace.com. It is a difficult decision, but we believe it is the most prudent for our stakeholders.”

In practice, both the investors of the NFT marketplace and the employees will be able to receive a settlement from MakersPlace. 

Not only that, the company also releases some guidelines on the next actions to take concerning artists and collectors. 

In fact, it seems that artists and collectors will need to transfer the NFT Art residing in the custody wallets of MakersPlace to their personal wallets as soon as possible. This function is already available with the “Send Artworks” option, but from February there will be a new, more updated transfer function directly on the MakersPlace.com website. 

The NFT marketplace then stated that it is open to new opportunities for a sale of the company’s assets, encouraging interested parties to contact it. 

The great enterprises of the NFT marketplace

In the last six years of its history, MakersPlace has stood out in various situations. 

Looking at 2022, MakersPlace welcomed into its marketplace the first holographic NFT of Leonardo da Vinci’s masterpiece “La Bella Principessa” in collaboration with The Holoverse.

Not only that, his name also appeared among the main platforms where to auction the artwork of famous artists. For example, the Swiss artist Urs Fischer chose MakersPlace for his NFT works, sold at record figures. Also, Bruno Cerboni, an official member selected by the Mondial Art Academia as a talented painter and mosaicist, chose MakersPlace for his NFT works.

The well-known NFT art marketplace has also been chosen by football players. In March 2022, the IBRANFTCOLLECTION, by Swedish football champion Zlatan Ibrahimovic, was auctioned on MakersPlace.