Solana Spaces Closes Less Than A Year After Opening, Here’s Why! 

Solana Spaces Closes Less Than A Year After Opening, Here’s Why! 

Just seven months after it initially opened, Solana Spaces has announced that it will be closing its two Solana-themed, community-oriented retail stores in both New York City and Miami.

Solana Spaces Closes

According to Solana Spaces founder Vibhu, the reason for the closing of their stores is due to the fact that it had attracted far less people than anticipated. The store was originally aimed to act as a branch to help intrigue the public about Web3, as well as becoming a place where Solana investors could buy their favourite Solana branded merch, but it seems that not many people had been as intrigued to enter the store as they had initially thought.

Vibhu further explains that because of this, Solana Spaces will be focusing on their online platform, DRiP, which he says earns more traffic than their retail stores.

“While our stores onboard between 500 and 1000 people per week, DRiP onboards that same quantity EVERY DAY. Over the last 2 months, it became increasingly clear to me that we were at an inflection point with our stores and our digital products, and a few weeks ago we made the call to focus our ongoing efforts on DRiP.” Vibhu wrote.

The Solana Spaces retail stores will be officially closing on February 28th, adding that both the New York and Miami stores would offer giveaways and discounts on merchandise leading up to the closing day.

Related: Solana Surges After Helium Network Announces Migration


Solana has been taking quite the fall in their price since the collapse of FTX back in November. According to data from CoinGecko, $SOL is down up to 70% within the past year. The crypto even saw its price drop by 6.5% within the past day, now trading at a price of $23.48.

Despite this, however, the crypto has been seeing its price recover considerably compared to the low prices of around $9 that it saw back in early January.

Related: Stack Tokens Spikes Following Bitcoin Ordinals Boom

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