Lootex said it will shut down its NFT marketplace on April 4, 2026. In a farewell note published by the team, the company said the global NFT market has changed sharply over the past two years, leading it to end operations after internal review.
The Web3 startup was founded in 2018 and said it had spent eight years building toward a vision inspired by Ready Player One. The closure will happen in stages rather than all at once, with the team outlining a timeline for listings, minting, trading, and the final website shutdown.
Listings and minting end first, trading stops on March 31
According to the schedule released by Lootex, the platform will disable new listings and minting on March 27. On March 31, all marketplace trading functions will stop, including buying, selling, and bidding. Active listings will be canceled automatically, while transactions already in progress on-chain will not be affected.
On April 4, the Lootex website will go offline, leaving only a static FAQ page available for reference. The company said the timetable is based on UTC+8.
Lootex says NFTs stay in users’ wallets
On asset safety, Lootex said users do not need to take urgent action and that their NFTs are safe. The company stated that it has always operated under a non-custodial model, meaning it never held or stored user assets on their behalf.
Lootex said NFTs connected to the platform remain in personal wallets across chains including Ethereum, Polygon, BNB Chain, Arbitrum, Base, Mantle, and Soneium. For users who still want to trade after the shutdown, the team pointed to OpenSea, Magic Eden, Blur, and Element Market as compatible alternatives. It also urged users to review and revoke token approvals previously granted to Lootex smart contracts through tools such as Revoke.cash.
$LOOT token still tradable on Gate
The announcement also addressed the platform’s native token, $LOOT. Lootex said the token exists on-chain and is not directly affected by the marketplace closure. At present, users can still deposit, withdraw, and trade $LOOT on Gate.
Looking back at its operations, Lootex said it had worked with more than 50 blockchain games, supported as many as 29,000 NFT collections, and connected over 140,000 unique wallet addresses. It also highlighted collaborations involving the National Palace Museum, the film Ao-Leh in Taiwan, and Memeland. The team closed its message by thanking community members who minted, listed, collected, and backed the project’s vision of digital ownership.