NFT platform Rodeo announced its closure with a migration plan to Arweave, operating normally until February 10, switching to read-only mode until March 10, then going completely offline. This follows Nifty Gateway’s shutdown announcement, which is giving users 90 days (until April 23) to withdraw their assets. The NFT market has collapsed since the 2022 crash: Ethereum trading volume dropped from nearly $5 billion in January 2022 to just $159.2 million in January 2026, a decline of over 96 percent. Additionally, the artist platform Foundation, which oversaw $230 million in primary sales since launch, is being transferred to Blackdove.
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