Solana On-Chain NFT Platform Exchange Art to Cease Operations on August 1

CoinFeed July 3 news, Solana on-chain NFT art platform Exchange Art announced that it will officially cease operations on August 1, 2026. The platform stated that due to the long-term downturn in the on-chain art market, it failed to find a sustainable financial path and decided to shut down. Users need to access their accounts and extract necessary information before the shutdown. All works and funds held in the platform's sales and custody contracts will be released to their owners before the shutdown. All artworks have been minted on the Solana blockchain and can be imported into other markets. Artists and collectors do not need to take additional measures to ensure the security of their works.