NFT brand experience platform Recur to shut down after raising $55 million in funding.

According to official sources, Recur, an NFT brand experience platform, announced on August 18th that it will gradually discontinue its platform functions and will completely shut down on November 16th, 2023. All NFT metadata on the platform will be migrated to IPFS. Recur previously announced in March 2021 that it had completed a $5 million seed round of financing, led by DeFi Alliance, with participation from IOSG Ventures, Courtside VC, Gemini, JST Capital, Delphi Digital, Volt Capital, Nascent, CMT Digital, Hashed, as well as institutions and individuals such as Gary Vaynerchuk, ConsenSys founder Joseph Lubin, and Behance founder Scott Belsky. In September 2021, Recur completed a $50 million Series A financing round at a valuation of $333 million, led by Digital, a metaverse investment platform.