Popular cryptocurrency exchange Bybit decided to shut down Web3 NFT Marketplace and the IDO feature as part of platform optimization.
Closure of Web3 NFT and IDO Platforms
On April 1, 2025, Bybit announced the cessation of its Web3 NFT Marketplace alongside IDO features. These functions will exit the platform, leaving them inaccessible to users.
Reasons for Platform Changes
Bybit stated that these changes aim to 'optimize platform offerings' without providing specific details. The company may be choosing to focus on core areas like crypto trading and product enhancement.
Impact on Users
Bybit users will lose access to the Web3 NFT and IDO features. Unfinished projects must proceed on alternative platforms. The company has requested users complete all active transactions and withdrawals before service termination.
This transition may surprise users as it signifies a reduction in Web3 innovations on the platform.
