TechFlow News: On June 11, NFT peer-to-peer lending protocol NFTfi announced it will gradually shut down over the coming months, with its frontend scheduled to cease operations by the end of August 2026. The team stated that the NFT market has shrunk to a size insufficient to sustain the protocol’s operational costs—potential revenue can no longer cover expenses—and the protocol cannot continue subsidizing operations amid ongoing uncertainty, prompting the decision to shut down. Per the shutdown plan, no new loans are being accepted. Existing loans may be refinanced until July 31 (each refinance period lasting up to 30 days), and borrowers may repay loans at any time before August 31, 2026. After the frontend is taken offline, smart contracts will remain deployed on-chain and continue operating autonomously; users may still directly interact with the contracts to repay loans and claim collateral.
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