Taiwan NFT Market Lootex Announces Platform Closure on 4/4, Officials Confess: Unable to Withstand Market Turmoil, User Assets Absolutely Secure

Taiwan’s well-known Web3 gaming and multi-chain NFT trading platform Lootex issues a shocking announcement! According to the latest official blog post on March 23, in response to the dramatic changes in the NFT market landscape over the past two years, Lootex has decided to officially shut down platform operations on April 4, 2026.
(Background: Lootex participated in Weifeng Night, “Metaverse Fashion Show” debut)
(Additional info: Lootex DAO officially launched! Complete missions to earn $LOOT, limited NFTs, and learn about token staking)

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• Unable to withstand market winter, Lootex announces gradual shutdown
• Asset decentralization: NFT security assured, recommend revoking permissions
• Platform token $LOOT still tradable on exchanges

Lootex, a well-known multi-chain NFT marketplace in Taiwan, released a farewell message titled “An Unforgettable Adventure: The Last Letter to the Lootex Community” to the community today (23rd), officially announcing that it will cease NFT marketplace operations on April 4, 2026.

Founded in 2018 and inspired by the film “Ready Player One,” this Web3 startup has accompanied players and collectors for 8 years but ultimately could not withstand the challenging environment.

Unable to withstand market winter, Lootex announces gradual shutdown

Lootex’s official statement admits that this was a difficult decision. Over the past two years, the global NFT market landscape has undergone significant changes. After careful consideration, the team believes that ending operations is the most appropriate choice given the inability to continue providing the community with the quality experience they deserve.

To give users ample time to prepare, Lootex has published a detailed exit timeline (all times are UTC+8 Taiwan time):

• March 27: Disable new asset listing and minting functions.
• March 31: Fully stop marketplace trading functions (including buy, sell, and bidding). All active listing orders will be automatically canceled, but ongoing on-chain transactions are unaffected.
• April 4: Lootex official website will go offline, leaving only a static FAQ page for inquiries.

Asset decentralization: NFT security assured, recommend revoking permissions

Regarding user concerns about asset security, Lootex team offers reassurance: “You do not need to take any emergency actions; your NFTs are absolutely safe.”

The official emphasizes that Lootex has always operated in a non-custodial manner, never holding or custodying any user assets. All NFTs are securely stored in users’ personal wallets and exist on 8 blockchains including Ethereum, Polygon, BNB Chain, Arbitrum, Base, Mantle, and Soneium, fully under user control.

For future trading needs, Lootex recommends users continue trading on compatible platforms such as OpenSea, Magic Eden, Blur, or Element Market. Additionally, as a best practice in Web3 security, the official strongly advises using tools like Revoke.cash to review and revoke token approvals granted to Lootex smart contracts, preventing potential risks.

Platform token $LOOT still tradable on exchanges

For holders of the platform’s native token $LOOT, the announcement states that since the token exists on the blockchain, it is unaffected by the platform’s closure. It remains tradable and can be deposited or withdrawn on Gate Exchange.

Looking back on the 8-year journey, Lootex has set many milestones, including partnerships with over 50 blockchain games, supporting up to 29,000 NFT series, connecting more than 140,000 individual wallet addresses, and collaborating deeply with IPs such as the Palace Museum, the film “Saints and Thieves,” and Memeland.

“This has been an unforgettable adventure,” the Lootex team expressed their deepest gratitude to all community members involved in minting, listing, collecting, and believing in their vision: “Digital ownership should be real, portable, and permanent. This mission remains important. Your NFTs will always belong to you.”