Summary
- South Africa's NFT platform Momint has reportedly suspended its operations due to financial difficulties.
- Momint is said to have been facing business challenges recently due to liquidity shortages, regulatory pressure, and a decline in user numbers.
- It has been reported that the global NFT market is experiencing a series of shutdowns of small-scale platforms due to shrinking trading volumes and waning investment sentiment.
On the 4th (local time), according to cryptocurrency-specialized media outlet Bitcoin.com, the non-fungible token (NFT) trading platform Momint, based in South Africa, has suspended its operations due to financial difficulties.
Momint, established in 2021, had gained attention for focusing on high-value NFT transactions, but recently it has been reported that the company is struggling due to severe liquidity shortages, regulatory pressure, and a decline in user numbers.
Meanwhile, as global NFT market trading volumes and investment sentiment have generally weakened, there are ongoing cases where small-scale platforms shut down one after another.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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