Social NFT platform Rodeo announced it will be gradually shutting down.
PANews reported on January 28th that, according to Cointelegraph, social NFT platform Rodeo has announced its phased shutdown, becoming the second NFT platform to announce its closure this week. Launched in March of last year through Apple's iOS App Store, the platform focused on a social-centric NFT collecting experience.
The platform's co-founder and CEO stated that despite the product's popularity within the core community, it failed to achieve the scale required for sustainable operation and therefore could not continue operating. The platform will remain operational from January 27th to February 10th, after which it will switch to read-only mode and shut down completely on March 10th. Rodeo has developed a user asset and data migration plan, including support for transferring media and metadata to the storage platform Arweave, and providing an asset migration assistant to guide users in transferring assets out of the platform's smart contracts.
You May Also Like
Why Multicoin Capital’s Kyle Samani Is Leaving Crypto for AI and Robotics
SUI Price Rebounds Above $1 as HashKey Enables Trading Support
BitGo wins BaFIN nod to offer regulated crypto trading in Europe
BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate. BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has received an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors. The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.The extension builds on BitGo’s previous Markets-in-Crypto-Assets (MiCA) license, also issued by BaFIN, and adds trading to the existing custody, transfer and staking services. BitGo acquired its initial MiCA license in May 2025, which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.Read more