The announcement comes days after the Blur team said it would also shut down Blast, its Ethereum layer-2 blockchain, because it cost more to run than it earned.
Blur NFT marketplace to shut down
Blur, the NFT marketplace that overtook OpenSea in trading volume shortly after its 2022 launch, announced it will shut down its website in a month. They also announced that Blend, Blur's NFT lending platform, will stop matching new loans on the same day. Borrowers have until then to repay their loans or let them default.
Porsche shuts down its NFT project with the floor price down 96%
When Porsche announced its Porsche 911 NFT project at Art Basel Miami in 2022, it promised holders "he opportunity to co-create Porsche's future in the Web3 universe". Turns out there wasn't much to that future.
After bungling the mint, selling fewer than 2,000 of the planned 7,500 NFTs after buyers balked at the 0.911 ETH (then $1,490) pricetag, the price went nearly exclusively downhill. Now, with the NFTs floundering with floor prices down 96% from launch, Porsche has announced it is ending its "shared adventure".
Magic Eden users lose NFTs and $1.8 million in wETH to legacy approvals exploit
Exploiters took advantage of a legacy approvals bug in an old payment processor called Limit Break, which the platform had stopped using in late 2024. The bug affected listings on Magic Eden's EVM marketplace, which the company had shut down earlier this year. The attackers were able to steal numerous NFTs, including 10 Meebits, 50 Otherdeeds, 10 World of Women, and 235 Desperate Apewives. Attackers also subsequently stole 660 wETH (~$1.78 million).
A whitehat rescue spearheaded by blockchain researcher 0xQuit took control of 23,155 NFTs he estimated to be worth "north of $5.7M USD", which he said would be returned to their owners after they revoked the permissions that made the assets vulnerable to theft.
Pudgy Penguins shuts down Pudgy Party NFT game after losing millions in less than ten months
The Pudgy Penguins NFT brand announced it would be shutting down its Pudgy Party NFT games less than ten months after its launch. The game was a mobile battle royale game, but built on crypto rails, with NFTs used for in-game items and characters that players could buy and sell. Pudgy Penguins seemed aware that the crypto aspect would be off-putting to many players, telling Decrypt in December 2025 that they were downplaying the crypto side of things "because the world is not ready for NFTs or crypto, or even blockchain en masse yet. But soon, very, very soon, we're going to use Pudgy Party as the glue between Web3 and Web2."
Although Pudgy Penguins CEO Lucas Netz boasted on Twitter in December about "1M+ downloads today. 10M+ downloads soon." he later admitted interest in the game had quickly died off. In a community call to announce the game's shutdown, Netz acknowledged that within months of the launch, there were only 200–300 active players. The project had lost the company millions of dollars, he confessed.
Thief steals remaining 7,200 unsold The Kiss NFTs in digital museum heist
Remember when Austria's otherwise respectable Belvedere Museum sold 10,000 NFTs representing postage-stamp sized sections of Gustav Klimt's The Kiss for like $2,000 a pop? No? Don't worry, I've got you.
Only about a quarter of them ever sold, leaving about 7,200 of them on the digital shelves. That is, until they were stolen (or, as the museum put it, "transferred from the wallet without authorization"). If valued at their sale price the stolen NFTs would be worth €13.32 million (US$15.3 million), though it's hard to argue the thief could've ever sold them for that amount given the museum had failed to do so for several years.
The stolen NFTs were soon made even less appealing to prospective buyers when the museum un-linked the image files from the digital assets, and OpenSea blocked them from trading.
- Hacker stahl dem Belvedere 7200 NFT-Zertifikate von Klimts "Kuss", Der Standard (in German) [archive]
Thief pilfers NFTs priced at $230,000 from Gondi
A thief exploited a smart contract belonging to the Gondi NFT platform to steal 78 NFTs priced at $230,000. Perhaps the most shocking part of the theft is that the attacker managed to find NFTs still holding any value at all. Around half of the stolen NFTs were taken from a single wallet.
According to Gondi, the exploiter took advantage of functionality that allowed users to sell their NFTs to automatically repay loans.
Gondi has said it has reimbursed customers by buying them "comparable items" from the same collections as their stolen NFTs, although it seems questionable that this will satisfy customers who purchased products whose whole selling point is that they aren't interchangeable.
Reddit shuts down its NFT avatars project
Three years after launching "Collectible Avatars", the NFT project they didn't want to call "NFTs" because they were already becoming kind of cringe, Reddit has decided to pull the plug. "Well, this is one of those posts. The kind that we hoped we would never have to write," they wrote.
Reddit has ended submissions for new avatars, and will shut down its avatar shop, collection display on profiles, and NFT wallet feature.
The feature is apparently so unused that the shutdown announcement garnered zero comments in the r/CollectibleAvatars subreddit. Besides posts relating to the shutdown, the most recent post in the subreddit was a year old.
This is the second blockchain-based feature Reddit has sunset, following the October 2023 decision to end their "Community Points" feature.
- "Closing up (the) Shop", post on r/CollectibleAvatars [archive]
$731,000 stolen in SuperRare hack
MakersPlace NFT marketplace shuts down
Citing "ongoing market challenges and funding difficulties", the MakersPlace NFT platform announced it will be shutting down after six years of operations. The company had raised $30 million in funding in August 2021 from investors including Eminem, Sony Music, and Coinbase Ventures.
They wrote in their announcement that, although they had some money left, the "prolonged downturn" in the NFT market was causing them to "anticipate significant challenges in securing further investment which would make it difficult". They said they would be returning unused funding to investors and shutting down most of the site's functionality immediately.
- "MakersPlace Announces Market Exit", MakersPlace
The Idols NFT loses $324,000 to exploit
An attacker noticed a vulnerability in a smart contract for The Idols, an NFT project that also incorporates ETH staking functionality. They discovered that a function used to distribute rewards had a bug when the sender and recipient addresses were the same, allowing a holder to repeatedly claim rewards. By taking advantage of this bug, they were able to siphon 97 stETH (~$324,000) from the project.
Although The Idols boasts of two audits from several years ago, the contract containing the vulnerability may not have been audited.
- "The Idols NFT", Rekt [archive]