NFT mortgage lending platform NFTfi will cease operations on August 31

NFT mortgage lending platform NFTfi officially issued a document on platform X that due to the shrinking NFT market, potential revenue could not cover operating costs, it decided to gradually close the project in the next few months.<br /> Starting today, the platform no longer supports the initiation of new loans, and existing loans can be refinanced before July 31. Borrowers can repay loans at any time before August 31, and all existing loans will be executed in accordance with original terms.<br /> NFTfi will end operations and roll off the front-end website on August 31, 2026. Smart contracts will continue to operate independently on the chain, and users can then directly repay loans and apply for collateral through the contract. Officials will release detailed instructions on directly interacting with smart contracts before the closure, and Discord will remain open to provide support during this period.