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Market News

Hic et Nunc Resurrects as DAO After Sudden Shutdown

Teztools developer Joseph Magle (Manitcor) will control the new domain of Hic et Nunc until a DAO is established.

Written By Vismaya V Vismaya V
Published 2021-11-20
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Hic et Nunc Resurrects as DAO After Sudden Shutdown

In Brief:

  • Hic et Nunc community revamps the platform into DAO.
  • The new domain got altered from “.xyz” to “.art”.
  • Teztools developer Joseph Magle controls the new domain.

Hic et Nunc, a popular Tezos-based NFT marketplace, shut down its operations last week.

Even though the Hic et Nunc website disappeared, the data was already on the Tezos blockchain. 

The code was also accessible in Github, so the raw data was available in an unorganized manner.

After Hic et Nunc’s founder, Rafael Lama, decided to abandon the website VC-backed crypto firm DNS created a mirror site with a new domain titled “Hicetnunc.art.”

Teztools developer Joseph Magle(Manitcor), who also assisted Lima to maintain the original site, will control the new domain until a DAO starts operating.

This means that while DNS made the code for the Hic et Nunc mirror site, any new features and improvements to the site are fully under the control of Manitcor.

The hicetnunc-community tweeted, “Hic et Nunc founder Rafael Lima has been in communication with some of the admin team and reduced the existing HEN contract fee to 1%. In turn, DNS.xyz has transferred the ownership of the mirror Hicetnunc.art to the community care of Teztools.”

The new website looks remarkably similar to the old one and utilizes the same smart contracts, allowing creators to continue minting and trading new Hic et Nunc NFTs.

As the media files were housed in an IPFS (InterPlanetary File System) storage system, which transcribes data directly onto the blockchain, images attached to existing NFTs are still available.

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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Vismaya V - Content Writer
By Vismaya V
Vismaya is a crypto content writer with over two years of experience in the field. With a passion for writing and research, Vismaya has made a name for herself in the crypto community with her in-depth analysis and clear explanations of complex topics. In addition to her love for writing and crypto, Vismaya is also a big fan of football and anime.

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