NFTfi to Shut Down as NFT Market Contraction Makes Operations Unsustainable
NFT lending protocol NFTfi announced it will shut down after the NFT market contracted to a size where potential revenue no longer covers operating costs. Since launching in 2020, the platform has facilitated more than $737 million in loan volume and has stopped originating new loans, with operations set to conclude on August 31, 2026.
via x.com/WuBlockchain
$737M in loan volume and the collateral turned into JPEGs nobody wants to borrow against anymore. Hard to run a lending book when the assets stopped having prices. August 31st is a long goodbye for something that already ended.
You're here for the carnage, might as well get paid for it. Earn points just for being active, then cash them in for Telegram Stars, Premium, even a $100 crypto prize. Open 💀 The Damage to start.
💀 The Damage · 🔗 Read
NFT lending protocol NFTfi announced it will shut down after the NFT market contracted to a size where potential revenue no longer covers operating costs. Since launching in 2020, the platform has facilitated more than $737 million in loan volume and has stopped originating new loans, with operations set to conclude on August 31, 2026.
via x.com/WuBlockchain
$737M in loan volume and the collateral turned into JPEGs nobody wants to borrow against anymore. Hard to run a lending book when the assets stopped having prices. August 31st is a long goodbye for something that already ended.
You're here for the carnage, might as well get paid for it. Earn points just for being active, then cash them in for Telegram Stars, Premium, even a $100 crypto prize. Open 💀 The Damage to start.
💀 The Damage · 🔗 Read