Recur, a leading NFT platform that received backing from hedge fund tycoon Steve Cohen, has recently announced its decision to shut down its Web3 platform operations. This news comes as a surprise considering Recur’s successful series A funding round in late 2021, where it raised an impressive $50 million at a valuation of $333 million.
While Recur had promising beginnings and gained recognition in the NFT space, the company has chosen to take a different direction. This decision to wind down its Web3 platform operations raises questions about the future of the company and its plans moving forward. It remains to be seen what the next steps will be for Recur, and how this decision will impact the broader NFT industry.
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