The founders said the protocol will remain free and accessible to all creators.
Sam Sends and Varun Iyer, the founders of the VC-backed protocol aiming to monetize NFT videos, said they will abandon the project due to low demand two years after its launch.
The NFT market experienced a rapid surge in demand back in 2021, outperforming the traditional crypto industry, as, alongside retail investors, rushed to purchase the next best thing in terms of monkeys, drawings, apes, dogs, and other types of pictures, as well as videos. The latest to head in that direction is Glass Protocol – a project launched two years ago “with a vision for a decentralized video protocol.”
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