Web3 platform Nifty's shuts down

Nifty's was a web3 business backed by the likes of Mark Cuban, Joey Lubin, Coinbase, and Dapper Labs. In 2021, they raised a $10 million seed round, and launched as an NFT-focused company in July 2021 with a collection of Space Jam NFTs to accompany the widely panned box office disappointment, Space Jam: A New Legacy.

The platform later partnered with other companies to produce NFT collections for franchises including The Matrix and Game of Thrones, the latter of which featured hilariously bad artwork. The company then pivoted to a broader web3 focus as the NFT bubble collapse led the broader crypto downturn.

However, their promised web3 platform never materialized, and now the project has reached "the end of [its] runway".

Nifty's is not to be confused with Nifty Gateway, a separate NFT platform run by the embattled Gemini crypto platform.