The creator platform Async Art has officially announced its shutdown, signaling an end to its influential presence in the Web3 community. In a statement released on October 23, the Async Art team detailed their plans to cease operations over the coming months.
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Bear market takes another victim
Since its inception in 2020, Async Art has served as a significant force for artistic innovation, providing a robust platform for artists and musicians around the globe to showcase their talents and sell their works.
Async Art introduced novel concepts in the NFT industry, enabling artists to develop multi-layered, dynamic artworks that evolved over time or under the influence of collectors. One notable feature, the Blueprints system, allowed for the code-free creation of generative NFTs. Prominent projects like XCOPY’s “Grifters” and Osinachi’s “Across the Face” were born from this very innovation.
CEO weighs in
Conlan Rios, CEO of Async, shared insights into the decision to close, noting the transformed landscape of the NFT world:
“When we launched in Feb 2020, the NFT world was smaller and simpler. Everyone knew each other, and there was a genuine sense of altruism all around,”
The journey, however, took a different turn as the NFT sector exploded. Rios recounted the transition from art collector to platform operator and team leader, along with the less-than-appealing facets they encountered as the industry’s dynamics shifted.
What will happen to existing Async NFTs
In terms of existing NFTs, there’s some reassurance for artists and collectors. All Async NFTs are securely pinned on IPFS, the popular decentralized storage network, maintaining their on-chain presence. However, the Async Market will discontinue purchases by the end of 2023, and from October 23, Async Art will no longer accept new submissions.
Rios promised more detailed information in the weeks to come, emphasizing his commitment to “preserve the works created with [the] platform and ensure [its] remaining team members find new homes to continue pursuing their web3 passions.”
Web3 art will live on
Despite the platform’s closure, the Async Art team remains optimistic about the future of dynamic and generative art in the web3 domain. “We’re confident that this movement will live on through the spirit of web3 builders & creators,” they affirmed in their farewell statement.
The crypto art sphere is poised to remember Async Art’s trailblazing contributions as it continues to evolve. But Async Art isn’t alone in its exit. Earlier this month, another NFT platform, Versum, declared its closure following Nifty’s shutdown announcement in August.