NFT market closure wave spreads; Cardano JPG Store announces permanent shutdown in May

Cardano’s largest NFT trading marketplace, JPG Store, has announced that it will permanently shut down on May 23, 2026, and its Comet platform will also stop operating at the same time. The team attributes the closure to the fact that “the platform has developed to the point where it can no longer continue to operate,” marking the end of this flagship marketplace that has served the Cardano community for five years since 2021.

Two-Phase Shutdown Plan: Enter Restricted Mode Starting April 23

JPG Store’s shutdown will be carried out in two phases:

First phase (starting April 23): Enter restricted mode, pausing functions such as adding new listings, placing bids, lending, and minting. During this period, users can still purchase existing items, cancel orders, and repay loans.

Second phase (May 23): The website will redirect to a closed-down notice page, and all marketplace functions will fully stop operating.

User Action Guide: Who Needs to Complete Migration Within 30 Days

JPG Store provides specific guidance for different types of users:

Self-custody wallet users: No action is needed. Your NFT assets can still be fully accessed through other aggregator platforms of JPG Store smart contracts, or via Cardano CLI.

Community login wallet users: You must migrate your assets to standard Web3 wallets such as Lace, Eternl, or Flint within the 30-day deadline; otherwise, any subsequent restoration will require technical knowledge or assistance from third-party tools.

Users with active listings or unsettled loans: You should cancel or settle the relevant positions before the deadline (May 23) to prevent your assets from becoming inaccessible afterward.

Industry Background: The NFT Marketplace Shutdown Wave Keeps Expanding

JPG Store’s shutdown is the latest example in the recent wave of NFT trading platform closures. Nifty Gateway under Gemini closed in February 2026, and Immutable also shut down its trading platform due to a decline in overall trading volume across the industry. Even so, the JPG Store team has publicly shared its open-source contract library and smart contract addresses to support ongoing community development on Cardano.

Frequently Asked Questions

After JPG Store shuts down, will my NFTs still be safe?

Users who hold NFTs using a self-custody wallet (not a community login wallet) have their assets completely stored on-chain, and they are not affected by the platform’s shutdown. The smart contracts will remain valid and can be accessed through other platforms that integrate JPG Store smart contracts or via Cardano CLI.

How do I transfer NFTs in smart contracts or assets from a community login wallet out?

If the NFT is still in a listed state (stored in the smart contract), you should cancel the listing and withdraw it to a self-custody wallet before May 23. Users using a community login wallet should migrate to standard Web3 wallets such as Lace, Eternl, or Flint within 30 days. After the deadline, assets remaining in the smart contract will require technical knowledge or assistance from third-party tools to be recovered.

Did JPG Store leave enough tooling support for future community development?

Yes. The JPG Store team has publicly shared its open-source contract library and smart contract addresses, enabling other developers to continue building on the existing foundation to further develop the Cardano NFT ecosystem, leaving technical assets for the community’s future progress.