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Wu Says learned that the NFT lending protocol NFTfi announced that, due to the ongoing contraction of the NFT market to a size that can no longer support its operating costs, the platform will gradually shut down (Sunset) over the coming months. Over the six years since it went live in May 2020, NFTfi has cumulatively processed more than $737 million in loan volume, and the smart contract has never experienced any loss of NFTs. In the official announcement, it stated that, effective immediately, it will stop issuing new loans. Existing loans may still be reallocated/refinanced within 731 days (up to 30 days per cycle). Borrowers may make repayments at any time before August 31, 2026 as usual. The platform plans to formally end operations on August 31, 2026 and take down the front-end official website.