The stagnation of the NFT market caused another trading platform to close!
To ensure the coinued existence of the various digital collections created through Rekord, the company plans to migrate its metadata and NFT media to the Ierplanetary File System (IPFS) and host other assets on the Filecoin network.
This record decision follows the deactivation of other NFT platforms like Nifty’s, which also had a promine media presence. While the NFT space has grown significaly, it has also become increasingly competitive and subject to market volatility. In the meaime, some companies have also started to re-evaluate their strategies and operations.
