On November 12, 2021, Hic et nunc (HEN), one of the most prominent NFT marketplaces built on the Tezos blockchain, suddenly shut down its front-end services without any official explanation. The platform's official Twitter account changed its bio to simply read “discontinued” and posted a single tweet containing the marketplace's smart contract address, with replies disabled.
Historic Sales Exceeded $50 Million
Hic et nunc had been a beloved hub for digital artists and collectors, known for its low fees and clean interface. According to DappRadar, the platform recorded total all-time sales of $50.37 million, with an average sale price of $25.19 per NFT and approximately 48,346 unique traders. It ranked as the 14th largest NFT marketplace globally by historical volume.
Abrupt Closure Sparks Confusion
Users attempting to access the website (hicetnunc.xyz) encountered a server error. The official Twitter account posted only the smart contract address, and comments were disabled, leaving the community in the dark. Many expressed frustration and disbelief: “Has anyone deciphered wtf happened here?” and “Wow discontinued? Sad to see it go. It was a cool ass platform.”
Community Speculation: Rug Pull, Hack, or Emotional Decision?
Without any official statement, speculation ran rampant. Some accused the platform of being a rug pull, while others feared a hack had compromised the front-end. A more nuanced theory emerged from Discord and Twitter chatter: the creator, known as “Raf,” may have made an impulsive decision after receiving harsh criticism or negative messages. One user wrote on November 11, “Raf is thinking of discontinuing HEN. He got upset about some messages then decided this on a whim.”
However, a competing platform, akaSwap, reminded users: “Don't Panic!! Every single piece of data is still on the blockchain, it's one of the most beautiful things in the decentralized world (especially Tezos).” Indeed, because all NFT metadata and ownership records reside on the Tezos blockchain, the assets themselves remain accessible via other front-ends or directly through the smart contract.
Mirror Sites and Aftermath
Several mirror sites (e.g., hen101.xyz) sprang up to allow continued access to the marketplace's data, though some community members expressed concerns about the safety and intent of these unofficial clones. The Hic et nunc official Twitter account has not posted any further messages, and the reasons behind the shutdown remain unclear.
The incident highlights a critical vulnerability in many NFT platforms: reliance on a single website or front-end. While the underlying blockchain remains immutable and decentralized, the user interface can become a point of failure. For Hic et nunc, its abrupt end serves as a reminder that true ownership of NFTs ultimately depends on the chain, not the interface. Whether Raf will return or the community will revive the platform remains to be seen, but the story has already become a cautionary tale in the NFT world.