NFT peer-to-peer lending protocol NFTfi has announced that it will gradually wind down over the coming months. According to the plan disclosed by the team, the protocol’s frontend page is scheduled to stop providing service at the end of August 2026.
The NFTfi team said the decision was made because the NFT market has shrunk to a scale that can no longer support the protocol’s operating costs. It said revenue is no longer sufficient to cover operating expenses, and the protocol cannot continue subsidizing operations under ongoing uncertainty.
Under the shutdown plan, NFTfi is no longer accepting new loans. Existing loans may be refinanced before July 31, with each refinancing lasting up to 30 days. Borrowers may repay at any time before August 31, 2026. After the frontend goes offline, the smart contracts will remain deployed on-chain and operate autonomously, allowing users to repay loans and claim collateral directly through the contracts.