• Solana Spaces, a Web3 onboarding experience, has announced that it will shut down its stores in New York and Miami by the end of February.
• The company was funded by the Solana Foundation and hosted over 75,000 people and helped thousands walk away with Phantom wallets and Solana merch.
• The company plans to continue engaging with the community through Spaces DAO open-sourcing software, as well as identifying a place for people to pick up Solana merchandise in-person.
Solana Spaces Shuts Down Physical Locations
Solana Spaces, a Web3 onboarding experience that aimed to bring people to Solana through its retail stores, has announced that it will shut down its stores in New York and Miami by the end of February. The company had been operating for just over a year and was funded by the Solana Foundation.
During their time in operation, Solana Spaces hosted nearly 75,000 people in its stores and helped thousands walk away with Phantom wallets and Solana merch. The mission of the company was to experiment with new models to bring people to Web3 on behalf of the foundation. They also created their own free NFT product called DRiP that attracted over 100,000 sign ups.
Although they are closing their physical stores, the team at Solana Spaces is committed to continuing engaging with the community in two ways: firstly through Spaces DAO which will open source both their software and brand; secondly by identifying another place for people to pick up SOL merchandise in person.
Data from CoinMarketCap shows that SOL has tanked over 7% since news broke about them shutting down their physical locations. At press time it had dropped 6.12% over 24 hours with daily trading volume reaching $897 million USD.
Vibhu Norby’s Message
In a tweet Vibhu Norby expressed his gratitude for the support given by the foundation saying “The Solana Spaces team was the greatest startup retail team ever assembled” He further thanked them for executing at such high levels despite having only 8 months under their belt before they made this difficult decision to pivot into digital products like DRiP instead