Bybit Web3 Halts NFT Market, Focuses on Core Innovations

Bybit Web3 is streamlining its services by discontinuing several offerings, including the NFT and Inscription marketplaces, as well as its IDO platform. The company cites market inactivity as a reason for this decision. Users have until April 8th to migrate their assets and find alternative platforms like OpenSea or Blur for managing Ethereum-based NFTs. Bybit Web3 emphasizes a focus on core blockchain innovations and enhanced user experience moving forward. This strategic shift aligns with the overall trend of prioritizing sustainable Web3 use cases amidst market volatility.