NFTfi announced the gradual closure of its business and plans to shut down its front-end website app.nftfi.com on August 31, 2026. The platform has stopped initiating new loans, and existing loans can be refinancing for up to 30 days per cycle before July 31. Borrowers can repay at any time before August 31, 2026. The shrinking size of the NFT market has resulted in insufficient potential revenue to cover operating costs. The deployed smart contracts will continue to operate independently on the chain, and users can still repay loans and withdraw pledged NFTs through the contracts.
