According to a report by TechFlow on January 28th, Rodeo, an NFT marketplace platform, announced its closure on Tuesday, becoming the second NFT platform to cease operations this week, following Nifty Gateway. Rodeo CEO and co-founder Kayvon Tehranian stated that despite launching on iOS last March and focusing on creator rewards and social experiences, the platform failed to reach the scale needed for sustainable development. Rodeo will transition to read-only mode on February 10th and plans to shut down completely on March 10th, while offering users options to migrate their assets to platforms like Arweave.
NFT platform Rodeo has announced its closure, becoming the second NFT platform to go bankrupt this week.
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