Bybit, a popular cryptocurrency exchange, has announced it will discontinue its Web3 NFT Marketplace, Inscription, and IDO (Initial DEX Offering) features. The decision, made public on April 1, 2025, marks a strategic pivot for the platform as it seeks to streamline its offerings and concentrate on core operations, such as crypto trading and derivatives.
The phased decommissioning of these services means that all Web3 NFT Marketplace, Inscription, and IDO features will soon be unavailable to Bybit users. While the company has not provided detailed reasons for this shift, it appears to be reallocating resources to enhance its primary services and adapt to the evolving market landscape. The announcement did not mention regulatory factors or operational costs as the driving forces behind the change.
Users who were engaged in unfinished IDO-related projects, as well as NFT and Inscription activities, will need to complete their transactions elsewhere. Bybit has advised users to finalize any open transactions and withdraw related assets before the services are completely shut down.
This move has raised eyebrows among some users, as it signals a retreat from certain Web3 innovations in favor of doubling down on traditional crypto trading, which Bybit sees as its core strength. The exchange’s focus will now center on enhancing its spot trading and derivatives offerings, rather than investing in emerging Web3 products.
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