Voice, Pioneering NFT Platform, Announces Closure Amidst Volatile Crypto Market

Voice, Pioneering NFT Platform, Announces Closure Amidst Volatile Crypto Market

Voice, the NFT platform that once secured a staggering $300 million in funding from Block.one, has announced its impending closure due to the turbulent cryptocurrency and NFT market conditions.

In a formal announcement, Voice revealed its plan to cease operations in the upcoming months. This includes suspending new user registrations and shutting down its trading marketplace. Notably, existing user assets will remain secure and will soon have the option to migrate to blockchain platforms like EOS, Polygon, or Ethereum. These assets will continue to be accessible on the platform until December 31, 2024.

Originally conceived as a social platform, Voice was launched by BM, the founder of EOS, in June 2019 and was initially hailed as a transformative application for the industry. Block.one, in 2020, made a substantial investment of $150 million in Voice, granting it operational autonomy. By March 2020, Block.one’s total investment in the platform had reached a remarkable $300 million. However, post-launch, Voice grappled with subpar user experiences, which prompted a strategic shift towards becoming an NFT creation and trading platform.

In their official statement, Voice expressed unwavering commitment to the potential of Web3 and its creators, stating:

“We maintain our belief in the immense potential of Web3 to empower creators. We look forward to crossing paths with you in the months and years ahead. We extend our heartfelt gratitude to our artists for collaborating closely with us in shaping the future of art.”

Voice, renowned for its carbon-neutral status, user-friendly interface, and compatibility with multiple blockchain networks, served as a pioneering platform that facilitated easy entry into the NFT ecosystem—a crucial initial step for creators venturing into this dynamic space.