Optimism’s Largest NFT Marketplace Quix Puts Shutdown Plans on Hold

NFT

Optimism’s largest NFT market has revealed that it’s going to not shut down in any case. The workforce revealed {that a} outstanding participant from the web3 gaming house had swooped in.

Quix, the biggest NFT market on Optimism, has introduced that it’s going to not shut down its market. The workforce tweeted on Feb. 28 {that a} “outstanding participant from the web3 gaming house” had turn out to be concerned, saving {the marketplace} from closure.

Quix introduced in November 2022 that it could shut its market — with the closure date set for Feb. 28. The workforce has left it till the final minute to tell customers of the rescue.

Launched in December 2021, Quix picked Optimism due to the scalability advantages that the layer 2 scaling answer provides. Standard NFT initiatives which have had a spot on Quix embrace BoredTown, Oliens, Motorheads, and Ganland. Quix even constructed the ERC-721 bridge, which is a vital a part of Optimism’s design.

NFTs skilled an enormous surge in recognition since their launch, however 2022 additionally noticed the market decline over time. Quix wasn’t the one platform affected by it, however customers will breathe aid that {the marketplace} will live on.

Quix Comes Again From the Brink

The plans to close down got here as one thing of a shock to the crypto neighborhood. The venture did announce on the time that it could open supply the code on behalf of the Optimism neighborhood, however customers nonetheless felt dejection.

The shutdown announcement additionally talked about {that a} token grant could be provided retroactively to contributions and the neighborhood till Feb. 28. The workforce ended by saying that it remained optimistic in regards to the NFT ecosystem’s future, and it seems that the optimism was well-founded.

Quix Suffered an Exploit Final Yr

Quix has suffered different incidents which have put a pressure on its efforts. In July 2022, it suffered from an exploit that led to the theft of over $100,000 in OP and USDC. It introduced that it could refund all of the stolen tokens.

In the meantime, the Optimism community and its OP token have skilled stable development over the previous weeks. The token has grown considerably for the reason that begin of the yr, rising 135% towards ETH. The truth that Coinbase joined its ecosystem helped the token acquire 14%. The overall worth locked presently stands at $1 billion, with the Velodrome DEX being the most important platform on the community.