After nearly 8 months of operation, Solana has decided to close the stores that sell real-life items because there is no money to maintain.
Solana Spaces, a physical store chain that sells Solana blockchain layer-1 merchandise, has announced it will close two of its operating stores in New York and Miami.
Vibhu Norby, founder of Solana Spaces, said in a Twitter post:
“We have been forced to make the difficult decision to close our stores in New York City and Miami since the end of February, shifting our focus to digital products like NFT DRiP, which has already received more than 100,000 registrations.”
The following is a note from our founder, @vibhu.
Dear @solanaspaces community,
We’ve made the difficult decision to sunset our stores in NYC and Miami by the end of February, and to pivot our Solana onboarding efforts into digital products like DRiP, our free NFT product with… https://t.co/kjNu9Ay4Gk
— Solana Spaces (@solanaspaces) February 21, 2023
From now until the end of the month, these stores will offer discounts and offers for customers interested in Solana products.
The project founder confirmed that in fact, it is still possible to maintain the operation of the above stores, but has found a way to attract more new users to the Web3 segment through Solana, which is superior in both aspects. products and finance.
DRiP is an NFT platform that allows users to connect Solana wallets like Phantom to receive weekly NFT airdrops. Mr. Norby asserts that Solana Spaces stores can handle 500-1000 customers per week, while DRiP can do this every day. In addition, DRiP has recorded more than 50,000 registrations to use, while another 175 thousand people are on the waiting list to join.
Not stopping there, the upcoming Solana Spaces Twitter account will also be renamed to match the development orientation of DRiP. However, Mr. Norby said that this is not the end of Solana Spaces as crypto advocates will have the opportunity to meet the project again at Solana’s next events, distributing carry-on items. this blockchain brand.
Previously, in July 2022, the Solana Foundation said it had sponsored Solana Spaces to open these physical stores in the US, providing cryptocurrency supporters a space to exchange, exchange and collect. Find Solana-branded souvenirs.
In addition, Solana last year announced it was expanding its development into traditional products, including Saga smartphones and running shoes in partnership with ASICS.
Since the collapse of FTX – Alameda in November 2022, the Solana ecosystem has been in a very difficult situation when many big projects like Serum announced to stop working, while the names were less affected. rather choose to migrate to rival blockchains. Even so, when the cryptocurrency market recovered in the first two months of 2023, the price of SOL had a strong rise to return to the top 10 coins with the largest capitalization.