NeoNexus Founder Announces the NFT Project is Closing

The founder of NFT project NeoNexus, Jack Shi, has announced the startup operating on the basis of the Solana blockchain is shutting down.

According to the announcement made on Twitter, the main reason for such a sharp decision was the sudden drop in prices for the altcoin SOL.

It looks like he no longer intends to invest either effort or money in the development of this NFT startup. In this context, despite such a strong position, several new NFT collections will still be released. He has said:

“We previously announced the release of new non-fungible tokens. We promised. We will do it, but for the last time.”

The NeoNexus metaverse project has managed to collect about 25,000 SOL in several “NFT yards”. According to analysts, this is approximately from $2 million to $4 million.

Experts are not sure about how much money the project has made:

“The net income received by the project over the period of its existence depends on at what point they sold the SOL coins, and whether they were sold at all. So, for example, at the time of writing, based on the value of the coin, NeoNexus’s profit could be approximately $2.5 million. We should not forget about the period when the SOL digital asset rose in price to $150. By exchanging their crypto-accumulations for dollars in those very happy minutes, NeoNexus could have received a revenue of $4 million.”