NFT Marketplace Hyperspace to Shut Down on Solana

Multi-chain NFT marketplace and aggregator Hyperspace is shutting down its business on the Solana and Sui layer-1 blockchains. The announcement revealed that the wind-down will occur on September 17, 2024.

Kamil Mafoud and Santhosh Narayan co-founded Hyperspace in 2021 during the NFT boom. The marketplace was natively launched on the Solana blockchain since the 2021 Solana Summer event. Its key features include the Hyperspace API, which developers can use to integrate endpoints into their projects. The NFT marketplace also attracted users with its competitive low trading fees.

Last year, Hyperspace expanded its operations into the Sui and Avalanche networks. This shift allowed NFT collectors and creators to access the NFT marketplace’s suite of services, enhancing their non-fungible experiences.

Tagging the latest exit decision as “bittersweet” and “difficult,” the Hyperspace team urged users to pull out their NFTs before the final date (September 17).

“While the smart contract will remain open, we recommend you delist your NFTs via our website prior to that date. Please note that we will also be sunsetting support for our Solana APIs starting 9/17,” the announcement on X stated.

A similar announcement was sent to Hyperspace’s Sui community members. The NFT marketplace’s team encouraged users to pull out their Sui-based NFTs and list them elsewhere.

The Hyperspace developer team wrapped up its announcement with hints of potential products in the future, saying, “This won’t be our last adventure.” Bidding the project’s team farewell, various users noted they would support the Hyperspace team in any future endeavor.

There are some rumors that the team can be linked to recent popular upstart in the Ethereum space, namely EtherVista.

Notably, Hyperspace’s Avalanche ecosystem remained operational at press time. The marketplace’s Solana and Sui websites included a notice of the business shut down. However, the AVAX-focused unit did not have such an announcement. It hints that the project intends to remain operational on the layer-1 blockchain.

Hyperspace’s continued operation on Avalanche indicates the team’s confidence that the NFT market will recover from its current low trading activities and that Avalanche’s NFT section is likely fairing well.