The NFT (Non-Fungible Token) platform Voice has officially declared that it will cease its operations in the coming months. The announcement sent ripples through the crypto and NFT communities, leaving many users and investors in shock.
Voice, originally launched in June 2019 by Block.one founder BM, aimed to provide a unique platform for artists and creators to showcase their work in the burgeoning world of Web3. With the backing of Block.one, the parent company of EOS, Voice had secured a substantial $150 million in financing to pursue its vision.
Today, we are sad to announce that we will be winding down operations at Voice over the coming months.
— Voice (@VoiceHQ) September 13, 2023
The announcement, delivered via a tweet from the official Voice Twitter account, reads: “Today, we are sad to announce that we will be winding down operations at Voice over the coming months. It is unfortunately clear to us now that the ongoing uncertainty in the crypto and NFT market will continue for more time than we have.”
This shocking development has led to several immediate actions by Voice to manage the transition and provide support to its users and community. New user registrations have been suspended, and the trading market has been closed. In the following weeks, Voice plans to introduce a service that will enable the migration of NFTs from Voice to self-custody wallets on popular public chains, including EOS, Polygon, and Ethereum.
The decision to wind down operations reflects the challenges and uncertainties currently faced by the crypto and NFT markets. The volatility and regulatory scrutiny surrounding these spaces have made it increasingly difficult for platforms like Voice to operate effectively and sustainably. Despite this, Voice remains optimistic about the potential of Web3 to empower creators in the future, as expressed in their tweet: “We still believe in the tremendous potential web3 holds to empower creators. We will see you out there in the months and years to come.”
Voice also took a moment to express gratitude to its community and artists for their support and contributions: “Thank you to our artists for working so closely with us to help shape the future of art. Together, we saw the potential for empowering artists in Web3. We hope our commitment to carbon neutrality, artist royalties, and inclusivity has helped unlock some of that potential.”
The closure of Voice highlights the challenges that continue to plague the crypto and NFT markets, where innovation is often met with regulatory uncertainty and market fluctuations. As the crypto space evolves, it remains to be seen how platforms like Voice will adapt to these challenges or whether new approaches will emerge to better navigate the ever-changing landscape of digital assets and decentralized technologies.
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