Bybit will officially shut down its NFT marketplace on April 8th (local time), citing a significant decline in trading volume. This closure reflects a broader trend impacting the entire NFT ecosystem. According to CoinTelegraph, the NFT market is experiencing a substantial downturn. Daily NFT trading volume, which averaged around $18 million a year ago, has plummeted to approximately $5.34 million. This indicates a waning speculative interest in non-fungible tokens. While Bybit hasn't released specific data on its marketplace's performance, the overall market conditions likely contributed to the decision. The closure marks a shift in Bybit's strategy and highlights the challenges faced by NFT platforms in the current market environment. Users are advised to withdraw their NFTs from the platform before the shutdown date. ```

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