The brand NFT experience platform Recur will shut down, having raised $55 million in funding

ChainCatcher news, the brand NFT experience platform Recur announced that it will shut down the platform, starting to gradually disable features from August 18, and will close NFT and USDC withdrawal functions by November 16, 2023. All NFT metadata on the platform will be migrated to IPFS.

According to RootData data, in March 2021, Recur announced the completion of a $5 million seed round financing, led by DeFi Alliance, with participation from IOSG Ventures, Courtside VC, Gemini, JST Capital, Delphi Digital, CMT Digital, Hashed, and others. In September 2021, Recur completed a $50 million Series A financing at a valuation of $333 million, led by the metaverse investment platform Digital.