South African Crypto Startup, Momint, Shuts Down Due to ‘Limited Capital and Market Shifts’

South African Crypto Startup Momint Shuts Down

South African Web3 and crypto startup Momint, once seen as a pioneer in the country’s NFT and tokenized asset space, has officially announced it is closing down. The company cited rising operational costs, limited user growth beyond its initial base, and a tough funding environment as the main reasons for the shutdown.Founded in 2021, Momint gained early attention as South Africa’s first NFT marketplace to support local currency transactions. It…

South African Crypto Startup, Momint, Shuts Down Due to ‘Limited Capital and Market Shifts’

South African crypto startup, Momint, once hailed as a pioneering social media and NFT marketplace, is shutting down. According to coverage on BitKE, Momint initially drew attention for helping African creators monetize digital content through NFTs. Introducing Momint – The First South African NFT Platform Accepting ZAR Payments: https://t.co/rvKfZU68yi #NFTs — BitKE (@BitcoinKE) May 3, 2021 The platform facilitated over 400,000 transactions, …