The Solana-based NFT art platform cited a prolonged downturn in the on-chain art market and said assets in its sales and custody contracts will be returned before the closure.
Exchange Art, a Solana-based NFT art platform, will cease operations on August 1, 2026, as a prolonged slump in the on-chain art market weighs on the business. The platform said works and funds held in its sales and custody contracts will be released to their owners before it shuts down, outlining an orderly wind-down for users with assets still on the service.