NFT Marketplace BlueMove Withdraws from Sei Due to Low Trading Volume
NFT marketplace BlueMove has announced that users should delist their NFTs from the Sei layer-1 blockchain to avoid potential losses.
BlueMove Exits Sei Due to Disappointing Trading Volume
According to a post on X, BlueMove will cease operations on the Sei blockchain as of 11:00 AM on August 31 (Vietnam time). Users are advised to delist their NFTs before the deadline to prevent any financial loss.
📢 Important Announcement:
— BlueMove (@BlueMove_OA) August 28, 2023
BlueMove will cease operations on Sei Network 72 hours from now, at 4:00 UTC on August 31st, due to the current trading volume on Sei falling short of our expectations.
During this period, we kindly request all users to delist their NFTs to prevent…
The reason cited by BlueMove for this decision is that the trading volume on Sei was lower than initially expected. No further details were provided by the marketplace.
BlueMove is a multi-chain NFT marketplace built on the Move programming language. It was intended to become a leading NFT platform on Aptos and Sui. Sei was the third blockchain integration for BlueMove, but it has proven to be inefficient.
Sei itself had a rocky launch. Despite early investor confidence, Sei disappointed during its mainnet phase, failing to provide clear criteria and timelines for airdrops and delivering inadequate rewards for early supporters from 2022.
Since its mainnet launch, Sei has faced substantial criticism. The community even created the hashtag #SeiScam on X to boycott the project.
The SEI token has experienced significant price drops since its listing on CEX platforms on August 15, falling over 50% from its peak of $0.28 to its current price of $0.12.
SEI price chart on Binance, 1D timeframe, as of August 29
