Social NFT marketplace Rodeo became the second NFT platform to announce its closure this week. Rodeo CEO Kayvon Tehranian stated that while the product resonated with its core community, it failed to reach the scale required for long-term sustainable development, thus necessitating the cessation of operations. The platform will transition to read-only mode on February 10th and shut down completely on March 10th. Users can migrate their assets and metadata via Arweave. Data shows the NFT market remains sluggish, with Ethereum NFT transaction volume in January 2026 estimated at only $159 million, far below the peak of $5 billion in early 2022. (Cointelegraph)
NFT platform Rodeo has announced its closure, becoming the second NFT platform to go bankrupt this week.
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