Since last week, confusion has reigned across NFT Twitter about the sudden disappearance of popular CryptoArt marketplace, Hic et Nunc. Without any explanation, the platform went down, its smart contract was tweeted, and the Twitter bio changed to ‘discontinued.’
It seems that the mystery plaguing the space has finally been solved. Although it’s not clear why Hic et Nunc’s creator, Rafael Lima, decided to shut down the successful NFT marketplace, a solution has been found. According to various opinions, Lima was simply fed up with Hic et Nunc, and in the true spirit of decentralization, he has handed over the platform to the community, and it will now function as a DAO.
@hicetnunc2000 founder Rafael Lima has been in communication with some of the admin team and reduced the existing HeN contract fee to 1%. In turn, https://t.co/6KPXYFGoNU have transferred the ownership of the mirror https://t.co/qeIw39ME3x to the community care of @TezTools
— hicetnunc-community (@hen_community) November 14, 2021
The response from the community about the platform suddenly shutting down was not entirely positive. Many felt scammed and some even claimed it was a rug pull, which seems to be occurring more and more often in NFT land as of late. Although the frontend of the website disappeared, all the immortalized smart contracts of the listed NFTs can now be seen on objkt.com.
Hic et Nunc launched in March this year, and quickly made headlines as it surpassed OpenSea in daily users in May. Both artists and collectors were quick to adopt the the platform due to its low gas fees and higher energy efficiency as it uses the Tezos blockchain rather than Ethereum. Hic et Nunc made $50.37 million in sales until its closure a few days ago, and had more than 48,000 traders.
So, what happens next to Hic et Nunc, is up to the community. For now, users can have peace of mind that their NFTs are safe and that the platform is likely to resurrect itself stronger and better than before.
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Ivelina is an NFT and Blockchain lover. She has a knack for putting complex concepts into simple words.