Shockwaves in Crypto: Reservoir Axes NFT Services Just Months After $14M Funding Bonanza

From Expansion to Exit: A Sudden Pivot

Hang onto your hats, crypto fans! Reservoir, the high-flying startup that was soaring high after snagging a cool $14 million in Series A cash, just dropped a bombshell. They're pulling the plug on their entire NFT operation, including their API and all related services, set to go dark on October 15. This news hit the crypto world like a thunderbolt, announced on X last Thursday, April 24.

"After much consideration, we've decided to sunset Reservoir NFT, the API, and associated services on October 15th, 2025. Thank you to all our customers & partners for your trust and support over the years."

Reservoir

Behind the Scenes: What Reservoir Was All About

Reservoir wasn't just another player in the game; they were the backbone for big names like Coinbase, MetaMask, and Magic Eden. They provided the muscle behind the scenes, handling everything from NFT data indexing to enabling smooth token trades across multiple marketplaces. But now, the curtain's coming down.

The team's letting current customers ride it out till the shutdown, but don't even think about signing up now—new account creation? Totally off the table.

We hit up Coinbase and MetaMask for the lowdown, and we'll keep you posted the second they spill the beans.

Next Moves: From NFTs to Broader Horizons

But wait, there's more! Reservoir isn't just walking away; they're throwing a lifeline to their users. They've teamed up with Alchemy and Sequence to make the transition as smooth as butter. Plus, they've open-sourced their codebase, so if you're feeling brave, you can take the tech home with you.

Looking forward, the Reservoir crew is shifting gears, focusing on a bigger, bolder project called Relay. "We're excited to continue supporting the token economy with Relay — empowering users to swap, bridge, or buy tokens (including NFTs!) with any currency on any chain we support — instantly."

Reservoir

A Funding High to a Sudden Low

This twist comes hot on the heels of Reservoir's funding spree, where they raked in $14 million from heavy hitters like Union Square Ventures, Variant, Archetype, and Square Peg Capital, with Coinbase Ventures and Delphi Digital also jumping on board. They were all set to expand their NFT trading empire across more networks. But as they say in crypto, the only constant is change.