NFT Startup Casualties Pile Up

The past week has been filled with NFT drama, with OpenSea changing its policy for collecting royalty fees and drawing the ire of investors and NFT creators alike. But first, let’s take a look at the latest in a string of NFT startups that are calling it quits. 

Recur, a startup that helps other businesses create and manage NFT collections, said on Friday that it’s shutting down on November 16. Backed by metaverse investment firm Digital, billionaire hedge fund manager Steve Cohen’s family office and musicians Jason Derulo and David Choi, Recur announced it raised a $50 million Series A round at a $333 million valuation in September 2021. Cohen was also a member of Recur’s board.