Rodeo said it will shut down after struggling to scale into a sustainable business. The move followed the Nifty Gateway shutdown announcement days earlier, marking a second NFT marketplace closure this week.
Rodeo launched on iOS in March 2025. It positioned itself as a social NFT collecting app, with creator rewards built into posting and collecting.
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Rodeo CEO and co-founder Kayvon Tehranian shared the decision on X. He wrote, “Ultimately, Rodeo didn’t achieve its core objective.”
Rodeo shutdown timeline sets Feb. 10 read-only shift, March 10 switch-off
Tehranian described the product direction in his post.
“We believed collecting could be playful and communal — not just transactional,”
he wrote.
He also said the platform could not keep operating. He wrote the product resonated with a committed community, but it did not reach the needed scale.
Rodeo set specific dates for the Rodeo shutdown. The app will operate normally between Jan. 27 and Feb. 10. Then it will move to read-only on Feb. 10, and it will turn off on March 10.
Arweave migration plan guides Rodeo users moving media, metadata, and NFTs
Rodeo said users will be able to move media and metadata through Arweave migration. It pointed to Arweave as the storage layer for preserving content and related data.
The company also said it will provide an asset migration assistant. Rodeo framed it as a guide for moving assets from the platform’s smart contract.
The plan matters because the shutdown dates arrive fast. Users get a normal-use window through Feb. 10, before the read-only switch limits actions.
Nifty Gateway shutdown extends to April 23 as Ethereum NFT trading volume stays far below 2022
Nifty Gateway updated its NFT wind-down plan after community feedback. It said it will use Arweave for media and metadata transfers.
It also extended the withdrawal deadline to a 90-day window. The new deadline is April 23, 2026, instead of Feb. 23, 2026.
The update came as the NFT market remains smaller than its peak. Cointelegraph cited CryptoSlam data showing Ethereum NFT trading volume near $5 billion around January 2022, versus $159.2 million in January 2026.
Foundation ownership transfer surfaces during the Rodeo shutdown week
Tehranian also disclosed a separate shift tied to Foundation, the NFT artist platform and gallery. He said ownership is moving to digital art platform Blackdove.
He described Foundation as an experiment around artist pay online. He said the platform has overseen $230 million in primary sales since launch.
Tehranian said Foundation will continue operating under new leadership. The Rodeo shutdown, however, will proceed on the posted schedule.
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Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: January 28, 2026 • 🕓 Last updated: January 28, 2026
