South African NFT platform Momint announces shutdown, having raised $2.1 million in funding.

[Coin World] The South African NFT trading platform Momint recently announced its cessation of operations, primarily due to rising operational costs, weak user growth, and a challenging financing environment. Founded in 2021, the platform gained attention due to several high-value NFT sales and secured $2.1 million in seed funding in its early days. By mid-2024, the platform had processed over 400,000 transactions, attracted 53,000 users, and facilitated nearly $2 million in transaction volume. However, constrained by insufficient liquidity, regulatory pressures, and a bottleneck in user scale, it ultimately decided to shut down.

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LiquidityHuntervip
· 07-06 22:10
The funding chain has ultimately broken.
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SocialFiQueenvip
· 07-06 15:32
Another one has fallen.
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FlashLoanKingvip
· 07-04 16:07
Another one is insolvent.
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LucidSleepwalkervip
· 07-04 16:06
Another collapsed NFT
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ForumLurkervip
· 07-04 16:03
There is no way out in a Bear Market.
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LiquiditySurfervip
· 07-04 16:02
Another one has fallen.
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CryptoWageSlavevip
· 07-04 15:54
Insufficient financing and burning through cash too quickly.
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