Aptos’s NFT marketplace, Topaz officially shuts down starting August 21, 2024.
Topaz announced on X that it will cease operations and said that the decision was reached after careful consideration. The Topaz team also extended their heartfelt gratitude to all s, partners, and the Aptos community for their .
Even though there has been no reasons stated by the marketplace for its shut down, Topaz had, for long been a subject of constant security issues. Another challenge with Topaz was its inability to filter out similar NFT collections from other chains.
Topaz had last tweeted on August 1, informing about a compromise on its website and had asked s to avoid using the site, even as s complained about their stuck NFTs.
Launched in October 2022, NFT Marketplace, Topaz was built on the Aptos blockchain aiming to provide high scalability and low transaction fees.
Topaz allowed minting and listing of NFTs without gas fees and was designed for both NFT creators and collectors who want to take advantage of Aptos’ speed and low fees compared to other blockchains.
NFTs have for some time become a quiet space in the crypto industry. Recently, another NFT Marketplace, SuperRare also saw a third year of constant decline amid the slump. Additionally, one of the popular NFTs from Cryptopunk collection was sold at a shocking 80% discount.
Adding to the NFT woes, gaming and NFT blockchain Immutable announced that it is winding down the NFT marketplace starting August 13 to focus on expanding its ecosystem through collaborations.
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