NFTfi, a platform specializing in NFT-backed lending, announced plans to shut down its front-end website, app.nftfi.com, by August 31, 2026. The decision comes as the platform faces a shrinking NFT market, which has led to insufficient revenue to sustain operations. Effective immediately, NFTfi will stop issuing new loans, though existing loans can be refinanced for up to 30 days per cycle until July 31. Borrowers are encouraged to repay loans before the final closure date. Despite the shutdown, NFTfi's smart contracts will remain operational on-chain, allowing users to repay loans and withdraw staked NFTs. The company plans to release operational guidelines to assist users in navigating the transition before the website closure.