Social NFT platform Rodeo announces gradual shutdown

PANews, January 28 — According to Cointelegraph, social NFT platform Rodeo has announced it will gradually shut down, becoming the second NFT platform this week to announce its closure. The platform was launched last March through the Apple iOS store, focusing on a social-centric NFT collecting experience.

The platform's co-founder and CEO stated that although the product was well-received by its core community, it failed to achieve the scale of growth needed for sustainable operations, and therefore cannot continue. Between January 27 and February 10, the platform will continue to operate normally, after which it will switch to read-only mode and will be fully closed on March 10. Rodeo has developed a migration plan for user assets and data, including support for transferring media and metadata to the storage platform Arweave, and will provide an asset migration assistant to guide users in withdrawing assets from the platform's smart contracts.