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South African NFT trading platform Momint shuts down due to market pressure
Odaily News South African NFT trading platform Momint recently announced that it would cease operations, mainly due to rising operating costs, weak user growth and a severe financing environment. The platform was founded in 2021 and attracted attention due to multiple high-value NFT sales. It received $2.1 million in seed round financing in its early days. As of mid-2024, the platform has processed more than 400,000 transactions, attracted 53,000 users, and facilitated nearly $2 million in transactions. However, due to insufficient liquidity, regulatory pressure and user scale bottlenecks, it was ultimately decided to close. (News.bitcoin)
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