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Bybit to shut down NFT marketplace as trading volumes decline...
Cryptocurrency exchange Bybit has announced the shutdown of its non-fungible token (NFT) marketplace.
In an April 1 announcement, Bybit warned its users that its NFT marketplace will cease operations on April 8 at 4:00 pm (UTC). Furthermore, at that time, the exchange will also shut down its Inscription Marketplace and its initial decentralized exchange offering initiative.
The announcement explains that the measures are part of Bybit’s “efforts to streamline our offerings.” The decision follows a similar decision by major NFT marketplace X2Y2 announced earlier this week.
Charu Sethi, president at NFT-focused Polkadot and Kusama chain Unique Network, told Cointelegraph at the time that the market moved on from speculative to utility-based:
