Versum Platform Shuts Down: A Farewell from the Team

The Difficult Decision to End an Era

Reflecting on the Versum Community’s Impact

In a heartfelt announcement, the Versum team reveals their tough decision to shut down the Tezos NFT marketplace. This marks the end of an era for this vibrant community, and the team shares their perspective on this difficult choice.

Gratitude for the Versum Community

The Versum platform has thrived as a hub for artists, collectors, and Tezos NFT enthusiasts. The community’s unwavering support, creativity, and engagement have breathed life into Versum, making it a dynamic space for digital art and NFTs on the Tezos blockchain. The team expresses deep gratitude for the dedication and enthusiasm that defined this community.

Closure in Stages for Smooth Transition

To facilitate a smooth transition, Versum’s closure will occur in stages:

October 20th: Ceasing Minting

On October 20th, minting on ITEMs contract will cease.

November 1st: End of New Listings

On November 1st, the creation of new market listings will become impossible.

November 14th: Frozen Marketplace

On November 14th, the marketplace contract will be frozen, and listings will be cancellable only.

December 1st: Site Goes Offline

On December 1st, the site will go offline.

This phased approach allows users ample time to wrap up their activities, say their goodbyes, and make any necessary arrangements.

Versum ITEMs Remain Valuable

The good news for users is that their Versum ITEMs will remain safe and tradeable even after Versum’s closure, thanks to the power of decentralization. The team plans to unlock ITEMs for trading on various platforms, ensuring that these unique digital assets will find new homes.

Transition of Governance

As part of the transition, the adminship of Materia will be handed over to a DAO that utilizes Materia as its governance token. Furthermore, the team will relinquish all other administration privileges and remove only verified restrictions on tokens, emphasizing their commitment to decentralization.

Profound Gratitude and Best Wishes

The Versum team expresses their profound gratitude to the community for being an integral part of this remarkable journey. While the platform may come to a close, the spirit of this community is expected to live on in other forms, as members continue their artistic and collecting endeavors.

As Versum bids farewell, the Tezos NFT space will undoubtedly remember the creativity, passion, and innovation that defined this platform.

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