NFT peer-to-peer lending protocol NFTfi has announced that it will gradually wind down over the coming months. According to the shutdown schedule disclosed by the team, the protocol’s front-end interface is planned to stop providing service by the end of August 2026.
The NFTfi team said the NFT market has contracted to a scale that can no longer support the operating costs of the protocol. It stated that potential revenue is no longer sufficient to cover operating expenses, and that the protocol cannot continue subsidizing operations under ongoing uncertainty. On that basis, the team decided to begin the shutdown process.
Under the plan, NFTfi is no longer accepting new loans. Existing loans may be refinanced before July 31, with each refinancing capped at a maximum term of 30 days. Borrowers may repay at any time before August 31, 2026. After the front end is taken offline, the smart contracts will remain deployed on-chain and continue to operate autonomously, allowing users to interact directly with the contracts to repay loans and claim collateral.