Solsniper Announces Closure of NFT Marketplace
Solsniper, a prominent Solana-based NFT marketplace, has announced that it will be shutting down its NFT-related products, effective June 13, 2025. The platform, which has been in operation for 3.5 years, will automatically cancel all NFT listings, remove offers, and reimburse users for any outstanding bids or orders.
The news was shared on social media, with the Solsniper team expressing gratitude to its users for their support over the years. The team noted that it had expanded its services to include a mobile app, NFT aggregator, and launchpad, but unfortunately, it was unable to sustain its NFT marketplace.
Clarification on Company Closure
In a follow-up statement, the CEO and founder of Solsniper clarified that the company is not shutting down entirely, but rather just its NFT-related products. The team will retain its NFTs for use in future incentive programs and has already begun exploring new ventures, including a Telegram trading bot, web trading terminal, and AI trade assistant for memoins.
This move is unlikely to have a significant impact on the overall NFT market, but it may cause a short-term dip in trading volumes as power users seek out alternative platforms. Solsniper’s closure follows a trend of declining NFT trading volumes, with other marketplaces, such as Bybit and X2Y2, also announcing their closure in recent months.
NFT Trading Volumes on the Decline
According to data from Dupradar, NFT trading volumes have fallen by 63% since December 2024. Analysts attribute this decline to a decrease in interest and trading activity, which has been exacerbated by high-profile security breaches, such as the one suffered by Bybit, which lost nearly $1.5 billion to North Korean hackers.
While the NFT market has shown signs of recovery in recent months, its growth has slowed down significantly since the beginning of the year. As the market continues to evolve, it remains to be seen how the closure of Solsniper and other NFT marketplaces will impact the overall landscape of the NFT industry.
