Feb 22, 2023

Solana Spaces Shutters NYC and Miami Stores

Solana Spaces, the retail stores dedicated to the Solana (SOL) community, will be closing their two locations in New York City and Miami at the end of February. The physical stores, which opened in late July and August in New York and Miami respectively, were not able to onboard as many users as initially anticipated.

Vibhu Norby, the founder of Solana Spaces, shared the news on Feb. 21 via Twitter. In his letter, Norby stated that the company had come to an “inflection point”, prompting them to shift their investment focus to “DRiP”, the firm’s new nonfungible token (NFT) artwork airdrop platform.

“While our stores onboard between 500 and 1,000 people per week, DRiP onboards that same quantity EVERY DAY,” Norby said.

The ambitious initiative was part of a broader plan to onboard more people into the Solana and Web3 ecosystem. Norby said that the decision to close the stores was made “a few weeks ago” and that they would “sunset” at the end of February.

The stores offered customers the opportunity to partake in all things from in-person wallet onboarding tutorials, earning rewards, merchandise shopping and attending events. When Solana Spaces opened its first New York-based store in late July, Norby had hoped to bring in more than 100,000 people to Solana per month. However, Norby’s letter revealed that only 75,000 people managed to walk into the Solana Spaces store during its seven-month tenure.

The startup was sponsored by the Solana Foundation, the Solana-based wallet provider Phantom and the native crypto exchange Orca. Despite the store’s closure, it appears to have won over a lot of fans. Several Solana-native industry players, such as the videogame projects Star Atlas and Aurory, thanked Solana Spaces for its contribution to the ecosystem.

The closure of Solana Spaces comes at a time when the crypto winter has caused many industry-leading companies to lay off staff and close down offices all around the world.

However, the closure of the physical stores does not mark the end of Solana Spaces. The company is now shifting its focus to DRiP, the NFT artwork airdrop platform. DRiP allows users to earn rewards and NFTs, and provides a platform for NFT marketing and promotion.

Solana Spaces will be collaborating with a NFT marketing agency to create promotional campaigns for NFTs on Twitter and other social media platforms. The company is also exploring the possibility of launching a web3 agency to help clients with NFT marketing and promotion.

The company is also looking into ways to help users who are interested in selling NFTs. Solana Spaces will be providing resources and advice on the best ways to sell NFTs and how to maximize their profits.

Overall, the closure of the physical stores marks the end of an era for Solana Spaces, but it also marks the beginning of a new chapter for the company. The company is now focusing on DRiP and its NFT marketing and promotion services, and is looking to become a leading agency in the web3 space.

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