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NFT Lending Platform NFTfi to Shut Down Frontend and Cease Operations on August 31

On June 11, NFT lending platform NFTfi announced on the X platform that due to a shrinking NFT market leading to potential revenues that cannot cover operational costs, it has decided to gradually shut down the project over the coming months. As of today, the platform will no longer support the initiation of new loans, and existing loans can be refinanced until July 31. Borrowers may repay their loans at any time before August 31, and all existing loans will be executed under the original terms. NFTfi will cease operations and take down its frontend website on August 31, 2026, while the smart contracts will continue to operate autonomously on-chain, allowing users to repay loans and claim collateral directly through the contracts thereafter. Prior to the shutdown, the official will release detailed instructions for direct interaction with the smart contracts, and Discord will remain open during this period to provide support.

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