• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

🚨 IS Bitcoin’s Blow-Off Top ALMOST HERE 🚀📈

2025-06-04

What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

2025-06-02

Lightning Network Is About to Explode!

2025-06-02

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

    2025-06-02

    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    2025-05-30

    What Is Crypto Margin Trading? A Beginner-Friendly Guide to Leverage

    2025-05-26

    What Is Circulating Supply in Crypto? A Beginner’s Guide to Token Supply

    2025-05-23

    What Is a DEX? How DEXs Work and Why They Matter

    2025-05-21
  • Videos

    🚨 IS Bitcoin’s Blow-Off Top ALMOST HERE 🚀📈

    2025-06-04

    Lightning Network Is About to Explode!

    2025-06-02

    You must sell all CRYPTO and buy this…

    2025-06-02

    Bitcoin to $200k?! Latest 2025 BTC Price Predictions

    2025-06-01

    My Last Day at Bitcoin 2025 Conference

    2025-05-31
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»NFT»Despite Name Brand NFT Deals, Nifty’s Shuts Down
NFT

Despite Name Brand NFT Deals, Nifty’s Shuts Down

2023-08-02No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

A social network turned Web3 creators portal that managed to work with some of the biggest names in entertainment announced that it was shutting down today.

Nifty’s was backed by preeminent businessmen Mark Cuban and Joe Lubin in 2021 with a $10 million raise that included investors like Coinbase Ventures and Dapper Labs. Thanks to a deal with entertainment giant Warner Bros., Nifty’s came out of the gate offering NFTs based on the 1996 film “Space Jam,” featuring sports stars like LeBron James and various Looney Tunes characters, to promote a 2021 sequel.

The platform—which has no connection to the Gemini-owned Nifty Gateway marketplace—continued to release NFTs featuring immensely popular franchises, including “The Matrix” and “Game of Thrones”—the latter of which was soundly mocked for poor designs. But with its “limited resources in a difficult market,” Nifty’s “pivoted to developing a platform for Web3 creators,” according to a company update posted to Twitter.

“Since then, we’ve been heads down building our new product and working on opportunities to access the capital required to keep building,” the company explained. In May, the company announced that it was shutting down its website to make way for its new platform, which would use decentralized storage. Nifty’s also moved many of its digital assets to the Polygon blockchain, which it noted would be compatible with popular NFT marketplaces like OpenSea.

That new platform, never came online, and the plan wasn’t enough to attract additional backers.

“Unfortunately, despite our best efforts, the investment opportunities we were working on didn’t pan out, and we now find ourselves at the end of our runway.”

See also  The SEC, Gaming Tokens, and Web3: What Now?

The company saw strong sales of some of its projects, including “Shark Week,” “Bullet Train,” and “Build Your Realm,” and as it announced its shut down, said it tried to ensure that they could continue independently.

“We decentralized all the NFT media and redistributed the NFTs on the Polygon blockchain, unless they were already on Ethereum,” the company said, and pointed to Twitter accounts for the now separate projects like @matrix_avatars, @LooneyTunesNFT, and @BuildYourRealm.

For holders of NFTs from its Warner Bros. brands, Nifty’s has developed instructions for them to export their private keys to preserve their collection.

“We are profoundly grateful to our partners, investors and community members for giving us the opportunity to be a part of the Web3 story,” the company wrote. “We believe that story is about the world waking up to the power of digital ownership, and while we are deeply saddened to see Nifty’s part in it come to an end, we can’t wait to see where the Web3 community takes things next.”

Brand deals NFT Niftys shuts
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bessent Revealed ALL: Trump’s Crypto Plans & Trade Deals!

2025-05-17

All Eyes on Art: Upcoming Collections to Watch the Week of February 4

2025-02-05

Pepe Is Gearing Up For A Rally Alongside This Brand New Meme Coin!

2024-09-20

Ripple CLO Stuart Alderoty Challenges SEC OpenSea NFT Wells Notice, Citing 1976 Art Gallery Ruling

2024-08-29
Add A Comment

Leave A Reply Cancel Reply

Top Posts
Regulation

Hong Kong Financial Regulator Forms New Partnership With Police To Monitor Crypto Exchanges

2023-10-07

The supervisory body regulating the securities and futures market in Hong Kong teams up with…

NFT

NFTs are garbage psy-ops

2023-08-30

It all started off so innocuously. Ben Smith, the editor-in-chief of tech publication Semafor, tweeted…

Videos

$500 to $500,000: BIG Crypto Gains with a SMALL Portfolio!?

2025-01-18

Did you know that most people will invest around $500 in crypto? That doesn’t sound…

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

🚨 IS Bitcoin’s Blow-Off Top ALMOST HERE 🚀📈

2025-06-04

What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

2025-06-02

Lightning Network Is About to Explode!

2025-06-02

You must sell all CRYPTO and buy this…

2025-06-02
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 104,841.09
ethereum
Ethereum (ETH) $ 2,608.91
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.20
bnb
BNB (BNB) $ 667.46
solana
Solana (SOL) $ 152.74
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.189193
tron
TRON (TRX) $ 0.272379
cardano
Cardano (ADA) $ 0.679662
bitcoin
Bitcoin (BTC) $ 104,841.09
ethereum
Ethereum (ETH) $ 2,608.91
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.20
bnb
BNB (BNB) $ 667.46
solana
Solana (SOL) $ 152.74
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.189193
tron
TRON (TRX) $ 0.272379
cardano
Cardano (ADA) $ 0.679662