Bybit Web3, a division of the well-known cryptocurrency exchange Bybit, has announced changes in its product strategy. As part of this initiative, the company has decided to discontinue the NFT and IDO platforms.
Strategic Changes
Bybit Web3 has analyzed the market and its user needs to significantly improve its ecosystem. As a result, a decision was made to close NFT Marketplace, Inscription Marketplace, and IDO product pages by April 8, 2025. This decision aims to optimize the offerings and provide a higher level of service to users.
User Recommendations
Bybit Web3 advises users to manage their assets ahead of the platform closures. The following platforms are recommended for checking and trading NFT assets:
- ETH Chain: OpenSea, Blur, Magic Eden - Mantle Chain: Element Marketplace, Mintle
For operations on the Inscription Marketplace, Unisat and Magic Eden are suggested. IDO participants are encouraged to transfer tokens from Bybit Web3 Cloud Wallets to seed phrase wallets or private key wallets.
Company's Stance
Emily Bao, Head of Web3 at Bybit, stated: “Bybit Web3 is evolving to focus on core innovations that bring the most value to our users. This strategic refinement allows us to enhance the overall user experience while concentrating on the next generation of blockchain-powered solutions.”
Bybit continues to strive towards fostering Web3 development through continuous improvements and innovations. These changes enable the company to remain at the forefront of blockchain adoption.
