South African NFT trading platform Momint shuts down due to market pressure
2025-07-04 15:21:58
South African NFT trading platform Momint recently announced the suspension of operations, mainly due to rising operating costs, weak user growth and severe financing environment. Founded in 2021, the platform attracted attention due to multiple high-value NFT sales and received a seed round of 2.10 million US dollars in the early stage of its establishment. By mid-2024, the platform had processed more than 400,000 transactions, attracting 53,000 users and generating nearly 2 million US dollars in transaction volume. However, due to insufficient liquidity, regulatory pressure and user size bottlenecks, it was finally decided to close.
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