NFT Collateralized Loan Platform NFTfi to Close Frontend and Cease Operations by August 31

NFT Collateralized Loan Platform NFTfi to Close Frontend and Cease Operations by August 31
BlockBeats News, June 11 — The official NFT collateralized loan platform NFTfi posted on X that due to the shrinking NFT market leading to potential revenue being unable to cover operating costs, it has decided to gradually shut down the project over the coming months.
Starting today, the platform will no longer support initiating new loans, and existing loans can be refinanced before July 31.
Next, three things need to be monitored: whether related funds continue to flow in, whether on-chain trading volume and holdings continue to grow, and whether the project team or regulators provide new confirmation information.
A single news flash can only indicate that sentiment has been ignited; subsequent data will determine whether it can solidify into a trend.
Risks should also be considered: borrowers can repay loans at any time before August 31, and all existing loans will be executed according to the original terms.
NFTfi will cease operations and shut down the front-end website on August 31, 2026, while the smart contracts will continue to operate autonomously on-chain.
Users can then directly repay loans and claim collateral through the contracts.
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