The post Ethereum NFT Shutdown Sparks Art Storage Fears appeared on BitcoinEthereumNews.com.

NFT shutdown highlights risk as 96% of collections show zero trading activity Market value plunged 72% in 2025, weakening platform stability and growth Blackdove shifts strategy, choosing to build its own marketplace system A major NFT marketplace closure is raising new concerns about digital art survival across blockchain networks. The Ethereum NFT platform shutdown follows a failed acquisition, which shifts focus toward asset storage risks. This development comes as 96% of NFT collections now show no active trading across the market. Marketplace Closure Resets Digital Art Strategy The platform ceased operations after its planned takeover by Blackdove did not move forward. As a result, control returned to founder Kayvon Tehranian to oversee the transition process.  The shutdown will proceed gradually, with a structured timeline that may extend up to one year. Blackdove withdrew after reviewing the platform’s long-term fit within its business strategy.  Instead, the firm chose to develop its own marketplace rather than integrate an external system.  This shift removed a key growth pathway that could have supported expansion and technical upgrades. Art shouldn’t be able to just disappear into thin air I could scribble onto a sheet of paper and it would last longer than an Ethereum NFT https://t.co/pyLINLr5Dk — Jan (@janbtc) April 16, 2026 Company leadership confirmed that support would stop while internal teams coordinate the wind-down process.  They indicated that priorities have shifted toward building proprietary infrastructure and tools. Meanwhile, limited operations will continue temporarily to ensure an orderly exit. Weak Market Activity Drives Structural Pressure The shutdown reflects broader weakness across the NFT sector, where activity has dropped sharply. Current data shows that about 96% of collections have no consistent trading or user engagement. As a result, platforms across the ecosystem face declining usage and reduced transaction flow. The wider market recorded a 72% drop…

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Filed under: News - @ April 17, 2026 8:18 am