On January 27, the Web3 social collecting platform Rodeo announced the permanent cessation of its operations, joining a long list of closures within the crypto industry. In an official statement, CEO Kayvon explained that the decision followed months of internal deliberation after failing to reach the necessary scale to ensure the project’s financial sustainability, despite the strong commitment shown by its user community.
The platform halts its activities amidst high volatility and a pessimistic market, coinciding with the recent closures of Nifty Gateway and Entropy. Unlike other marketplaces focused on speculation, Rodeo championed a “social-first NFT” model and short-form media. Its exit underscores the difficulties even native products with good traction face in surviving an ecosystem where liquidity and mass growth are increasingly elusive.
As of now, Rodeo begins a gradual shutdown process that concludes on March 10. Users must monitor key deadlines: full functionality will remain until February 10, followed by a transition to “read-only” mode. The company has provided tools to migrate metadata to Arweave and transfer assistants to secure assets held in smart accounts before the final server shutdown.
Source:https://x.com/saturnial/status/2016212705036939476
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