NFT brand experience platform Recur to shut down, previously raised $55 million in funding.

Odaily News: NFT brand experience platform Recur has announced that it will be shutting down. Starting from August 18th, the platform will gradually phase out its functions. The NFT and USDC withdrawal feature will be disabled by November 16, 2023, and all NFT metadata will be migrated to IPFS.



Earlier this year in March, Recur announced a $5 million seed round financing, with DeFi Alliance as the lead investor. Other participating institutions and individuals include IOSG Ventures, Courtside VC, Gemini, JST Capital, Delphi Digital, Volt Capital, Nascent, CMT Digital, Hashed, Gary Vaynerchuk, ConsenSys founder Joseph Lubin, and Behance founder Scott Belsky. In September 2021, Recur completed a $50 million Series A financing with a valuation of $333 million, with investment platform Digital leading the round in the metaverse.