LG Art Lab Will Shut Down On June 17th, 2025

NFT ETF ‘Unlikely’

LG cited the evolving NFT space as the reason for shifting focus to new opportunities. By April 30th, all listed assets will be transferred to collectors’ wallets, with customer support available until July 18th.

Source: WIPO

Moreover, rumors of an ETF tracking top NFT collections have surfaced, but experts believe it’s unlikely due to investor skepticism around NFTs. The global NFT market cap also now sits at $3.67 billion, down from predictions of $223 billion by 2031.

Massive Losses
Major NFT collections like CryptoPunks, Bored Ape Yacht Club (BAYC), and Doodles have seen steep price drops. People who bought BAYC NFTs have now lost over 90% of their investment. Pudgy Penguins, despite recent gains, are still down 73% from December 2024 highs.

LG joins other companies, like Kraken, which shut its NFT marketplace in February, and Nike-owned RTFKT, which ceased operations in January after significant losses.