- NFT-linked fashion label 9dcc has announced its shutting down this month
- It attributed the move to difficulties navigating the web3 world
- Customers with pending orders have three months to redeem NFTs and receive their physical apparel
NFT -linked fashion label 9dcc has announced that itll shut down by the end of this month, citing difficulties navigating the web3 world. The fashion house will give its customers with pending orders or unredeemed NFTs three months to receive their items and to redeem their collectibles for physical apparel. The move comes a few months after 9dcc sold out a collection on OpenSea, indicating that collectors are yet to embrace NFT-linked physical items.
Merging the Digital and Physical Worlds
According to the fashion houses pseudonymous founder, Gmoney, 9dcc has been on a journey to merge the digital and physical worlds, adding that the firm explored the intersection between technology and fashion.
Gmoney disclosed that the fashion house was unable to overcome the macroeconomic headwinds in consumer web3. He promised that the company would provide a smooth transition for existing customers.
The pseudonymous 9dcc creator disclosed that membership benefits will end with the shutdown down which corresponds to the firms 3-year anniversary. According to Gmoney, the end of the benefits aligns with the original membership commitment made three years ago.
Blockchain Verification and Ownership Have a Future
Gmoney, however, said he still believes in a future where verification and ownership will be done on the blockchain , a future he said 9dcc may have been a little early to explore. 9dccs sunsetting comes at a time when other crypto, web3, and NFT platforms are shutting down due to decreased revenues and usage.
Crypto exchange Bybit is among the latest firms to shutter multiple web3 products to reduce its product line and optimize its offerings. Last year, Nike also announced that it would shutter its NFT sneaker company RTFKT this year.
With 9dcc shutting down, its evident that NFT collectors want to stay online and not connect their collectibles to physical items.
