Solana Spaces is closing less than a year after opening

Solana Spaces is closing less than a year after opening

Solana Spaces, two retail stores that opened this summer in New York and Miami, will close by the end of February.

The retail stores for Solana-based projects were the brainchild of San Francisco-based investor @vibhu, who wanted to provide a more personalized onboarding experience for those interested in NFTs and the blockchain in general.

Below average performance

However, as stated in a opinion On SolanaSpace's Twitter, the project attracted fewer people than expected.

According to Vibhu, the goal was always to switch to a different method to attract curious potential investors to the Solana ecosystem when the opportunity arose.

That opportunity appears to have materialized in the form of DRiP, a new project from the same investor that focuses on giving free NFTs to people who have them on board, giving them a leg up in the NFT game over others who created a wallet out of curiosity.

Unfortunately for SolanaSpaces' retail stores, this new project fared much better.

"While our stores onboard between 500 and 1000 people per week, DRiP onboards the same amount EVERY DAY. Over the last 2 months, it became increasingly clear to me that we were at an inflection point with our stores and our digital products, and a few weeks ago we decided to focus our ongoing efforts on DRiP."

Therefore, the two physical stores will be closed until spring rolls.

The way forward

Still, the store plans to go out in style. First of all, the code that powers Solana Spaces will be open source once stores officially close. As a result, anyone interested in carrying on SolanaSpaces' legacy could do so without having to worry about rebranding or copyright claims.

Second, even though stores are closing, Vibhu plans to keep a physical location open in these cities - but they would only be used for physical pickups of Solana merchandise and community events.

However, until the stores officially close on February 28th, those working there will be handing out free Solana merch, and all fans are encouraged to stop by, say goodbye, and pick up any merch they may have ordered.

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