Social NFT platform Rodeo announced it will be gradually shutting down.

According to Mars Finance, on January 28th, social NFT platform Rodeo announced its gradual shutdown, becoming the second NFT platform to announce its closure this week. Rodeo, launched in March last year through the Apple iOS App Store and powered by the Farcaster social graph, focused on a social-centric NFT collecting experience. The platform's co-founder and CEO stated that despite its popularity within the core community, it failed to achieve the scale required for sustainable operation and therefore could not continue. The platform will remain operational from January 27th to February 10th, after which it will transition to read-only mode and completely shut down on March 10th. Rodeo has developed a user asset and data migration plan, including support for transferring media and metadata to the storage platform Arweave, and providing an asset migration assistant to guide users in transferring assets from the platform's smart contracts.