NFT platform Rodeo is shutting down

Social NFT marketplace Rodeo has announced its closure after failing to reach sustainable scale amid a prolonged downturn in the NFT market. The platform will switch to read-only mode on February 10 and fully shut down on March 10.
Despite its focus on creators and social interaction, growth proved insufficient. According to Rodeo CEO Kayvon Tehranian, the product built a loyal community but failed to become a viable long-term business.
Users will be able to migrate media, metadata, and NFTs to Arweave. Rodeo s shutdown is part of a broader trend: monthly NFT trading volume on Ethereum has fallen from around 5 billion in 2022 to about 159 million by January 2026, and the market continues to contract.