• NFT platform Recur announces that it will be shutting down the platform this year.
• Recently, Yuga Labs stated that it would block the trading of its newer NFTs on OpenSea.
• Amid these developments, NFT enthusiasts worry about the future of the market.

According to recent reports, Recur, the NFT marketplace, announced that it was shutting down its operations due to harsh market conditions. “As we announced on August 18th, the RECUR platform will be deprecated over the coming months,” said the platform’s representatives in a recent blog post.

The team detailed the following updates on their blog post: from August 31, for “Built on Recur” experiences, the main transactional functionality, such as primary sales and secondary sales, will be disabled. For “Built on Recur” experiences, new user account creation will be disabled from Recur-hosted websites. On November 9 later this year, NFT deposits into Recur will be disabled. And on November 16, all remaining site functionality will be disabled.

Recur is not the only NFT organization with bad news. Recently, Yuga Labs stated that it would block the trading of its newer NFTs on OpenSea by February 20…

The post Recur Closes, Yuga Labs Battles with Open Sea: Is the NFT Market Dying? appeared first on Coin Edition.

• NFT platform Recur announces that it will be shutting down the platform this year.
• Recently, Yuga Labs stated that it would block the trading of its newer NFTs on OpenSea.
• Amid these developments, NFT enthusiasts worry about the future of the market.

According to recent reports, Recur, the NFT marketplace, announced that it was shutting down its operations due to harsh market conditions. “As we announced on August 18th, the RECUR platform will be deprecated over the coming months,” said the platform’s representatives in a recent blog post.

The team detailed the following updates on their blog post: from August 31, for “Built on Recur” experiences, the main transactional functionality, such as primary sales and secondary sales, will be disabled. For “Built on Recur” experiences, new user account creation will be disabled from Recur-hosted websites. On November 9 later this year, NFT deposits into Recur will be disabled. And on November 16, all remaining site functionality will be disabled.

Recur is not the only NFT organization with bad news. Recently, Yuga Labs stated that it would block the trading of its newer NFTs on OpenSea by February 20…

The post Recur Closes, Yuga Labs Battles with Open Sea: Is the NFT Market Dying? appeared first on Coin Edition.