NFT Video Startup Glass Shuts Down Amid Crypto Bear Market and Lack of Demand

Glass, a crypto startup for NFT videos, is shutting down due to lack of demand amid the crypto bear market.
The startup sought to help creators monetize videos as NFTs, seeing blockchains as bringing transparency and permanence.
Glass raised $5M in 2021 but never gained much traction. Trading volumes for NFTs have declined, especially for smaller projects.
The NFT videos created on Glass will continue to exist, but the founders will cease active development of the protocol.
Recently, Glass pivoted from Solana to Ethereum blockchain, but it wasn't enough to sustain the project.

coindesk.com

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8/21/2023

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