Quix NFT marketplace survives closure

Quix NFT marketplace survives closure

Quix, the largest NFT marketplace of Optimism, has announced that it will continue to operate, contrary to its previous announcement of shutting down. The team disclosed that a key player from the web3 gaming sector had intervened to rescue the marketplace.

Quix saved from shutdown by web3 gaming participant 

On Feb. 28, Quix, the leading NFT marketplace on the Optimism network, declared that it would not shut down its platform. In a tweet, the Quix team revealed that a “well-known participant in the web3 gaming arena” had intervened, rescuing the marketplace from closure.

The Quix team had previously announced in November 2022 that its marketplace would be shutting down, with the designated closure date set for Feb. 28. However, the team has delayed informing its users of the marketplace’s rescue until the eleventh hour.

Quix, a platform launched in December 2021, selected the Optimism layer 2 network due to its scalability and low gas fees. Quix has become a popular platform for NFT projects such as BoredTown, Oliens, Motorheads, and Ganland. To facilitate these NFT projects, Quix developed the ERC-721 bridge, a crucial component of Optimism’s architecture.

Optimism Pessimism in the crypto community

The crypto community had been taken aback by the sudden announcement of the project’s shutdown. Despite the project’s commitment to open-source the code for the Optimism community, users still felt disheartened by the news.

In the shutdown announcement, the team mentioned that they would offer a token grant to the community and contributors retroactively until Feb. 28. They also expressed optimism about the future of the NFT ecosystem, and seemingly, their optimism was justified.

Quix has faced several setbacks in its endeavors. One notable incident occurred in July 2022 when an exploit resulted in the theft of more than $100,000 worth of OP and USDC tokens. In response, Quix vowed to reimburse all of the stolen tokens.

Meanwhile, the Optimism network and its OP token have snowballed recently. The token has experienced significant gains since the beginning of the year, increasing by 135% compared to ETH. Adding Coinbase to the network has boosted the token’s value by 14%. Currently, the total value locked in the network is valued at $1 billion, with Velodrome DEX serving as the largest platform on the network.

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