Solana non-fungible token (NFT) marketplace Solsniper announced Friday that it is shutting down its 3.5 years of operation, including delisting NFTs and removing bids.
The platform will close on June 13, 2025, at 12 PM PST, the post on X, noted.
“We will be automatically delisting everyone’s NFTs from Sniper Marketplace, removing bids, and refunding bid/order balances to your wallets.”
The NFT team said that it will retain rewards leaderboard data for use in future incentive programs. “We don’t plan to stop building anytime soon,” it said.
Solsniper first started as an analytics tool for NFT traders, later expanding to a mobile app, an NFT aggregator, and an NFT marketplace.
Only NFT Products Are Shutting Down: Solsniper Clarifies
In a follow-up post, the platform CEO and founder clarified to users that the platform isn’t wholly shutting down.
“In case anyone was confused. We are NOT shutting down as a company, simply shutting down all of our NFT-related products,” he wrote.
Solsniper noted that it failed to “sustainably run” the NFT marketplace, assuring users that any refund would return to their wallet.
Besides, the CEO further touted that Solsniper has already launched a Telegram trading bot, web trading terminal, and AI trading assistant for memecoins.
The shutdown is unlikely to shake Solana’s core, but cause a short-term NFT trading volume dip, since power users scramble for alternatives.
NFT Trading Volumes Decline
In April, two major NFT marketplaces – Bybit and X2Y2 – announced that they are shutting down, citing a decline in NFT interests and trading volume. Bybit said that it is shutting down in an effort “to streamline our offerings.”
Shortly before closing, Bybit suffered a major security breach, losing nearly $1.5 billion to North Korean hackers. Previous NFT marketplace exits caused short-lived dips but didn’t dent overall growth.
Meanwhile, DappRadar data suggested that the trading volumes of NFTs tumbled 63% since December 2024.
“While NFTs had been showing signs of a comeback in recent months, their momentum has slowed since the start of the year,” DappRadar analyst Sara Gherghelas, said.
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