Solana Spaces, a project that showcased NFTs on the Solana network and offered wallet services and information, has announced the closure of its stores in New York and Miami due to low popularity.
The founder of the project, Vibhu Norby, stated that their focus would now be on promoting digital products like the NFT product DRiP, as the stores were only attracting between 500 to 1,000 visitors a week, whereas DRiP is registering the same number of users daily.
The initiative, which opened its New York store in July last year and the Miami store in August, fell short of its expected 100,000 monthly users target. It was hoped that the Solana Spaces stores would attract more users to the Solana ecosystem, but it was not to be.
This development comes in the wake of the DeFi Everlend protocol’s closure due to liquidity issues within the Solana ecosystem.