In recent times, NFTs collections have almost lost their appeal in the market since blue-chip NFTs collections like Bored Ape Yacht Club or Crypto Punk have witnessed a sharp decline in floor price and trading volume.
At dawn on November 24, 2022, Quix - the largest NFT exchange on the Optimism ecosystem, tweeted thanks to the community and announced it would shut down.
Based on Quix's "last" message, the NFT exchange will cooperate with the Optimism Foundation to maintain normal operations until February 28, 2023.
History of NFT Marketplace - Quix
About a year ago, Quix was a team of four who ran a small NFT company. Realizing that on-chain innovation requires a much larger scale, Quix decided on a mission to accelerate the adoption of layer-2 scaling technologies.
Get inspired by Optimism and bet on this ecosystem. 4 executives refocused the entire startup process on a new product - the NFT marketplace on Optimism called Quix (later called Quixotic). Quix launched in December 2021. At that time, the NFT ecosystem was microscopic, and Quix was the only place to trade NFT Optimism.
Over the next ten months, Quix did its best to grow the ecosystem by creating the first NFT no-code launchpad in the ecosystem. Then, it used to launch many of today's most popular OP NFT projects - BoredTown, Oliens, Motorheads, Ganland, and more.
Quix built Optimism's ERC-721 bridge, which is now part of Optimism's code. The NFT exchange has "overhauled" the marketplace so that it can easily connect NFTs from other chains to Optimism and created a powerful UX, so collectors feel comfortable trading bridging NFTs like any NFT any other. A collector of NFTs leveraged the ERC-721 bridge to transfer NFTs from Ethereum to Optimism.
The number of OP tokens to reward contributions and support to maintain the platform and community continues until February 28, 2023. Before that, users who bridge NFT from Ethereum to Optimism via the ERC-721 bridge in the Quix marketplace will be rewarded with OP tokens.
Users can buy NFTs from some collections, such as Ganland, to get rewarded with OP tokens.
What Happens To Users After Closing?
The Optimism Foundation has allowed Quix to open source code for the Optimism community. That means that Quix's source code will be freely available for society to use and build on!
For NFT collectors on Optimism, they will soon start redirecting transactions on OpenSea. For NFT creators, Quix Launchpad will remain available until January 18. Quix will also work closely with the Optimism Foundation to move Quix to the open-source base by January 6.
After announcing the most significant NFT exchange Optimism shutdown, the community can recognize that the NFT market has been relatively quiet lately. As a result, NFT exchanges will experience a severe reduction in revenue, affecting business operations. In the coming time, it is expected that the NFT market will continue to be quiet, especially at the end of the year when the cash flow is no longer being poured in much. In the future, the NFT will probably boost the NFT wave in Q1 of 2023.
The information, statements and conjecture contained in this article, including opinions expressed, are based on information sources that Holdstation believes those are reliable. The opinions expressed in this article are personal opinions expressed after careful consideration and based on the best information we have at the writing's time. This article is not and should not be explained as an offer or solicitation to buy/sell any tokens/NFTs.
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