Bybit Closes NFT Marketplace Amidst Market Decline

Crypto exchange Bybit has announced the closure of its Non-Fungible Token (NFT) marketplace, citing a broader industry trend and declining interest in digital art. This decision follows a wave of similar closures from other companies within the crypto sector, signaling a shift in how businesses approach the NFT space. 📚 Bybit’s action reflects a wider phenomenon: as the excitement surrounding NFTs has cooled since their peak in 2021, leading to a decline in trading activity and overall market demand.