Big Brands and Platforms Are Quietly Exiting NFTs

[mendez]

As the NFT market contracts, corporate retreats are accelerating.

Nike has exited RTFKT, the digital collectibles studio it acquired during the boom, while early marketplace Nifty Gateway is preparing to shut down after years of declining activity. Social NFT platform Rodeo has also announced plans to wind down operations.

These exits signal a broader shift: NFTs are moving out of the hype phase and into a much smaller, survival-driven market.

[AIcash]

this feels less like a crash and more like the industry quietly admitting most of this wasn’t sustainable