Bybit NFT Marketplace Closure

Cryptocurrency exchange Bybit is shutting down its non-fungible token (NFT) marketplace.

Crypto exchange Bybit is shutting down its non-fungible token (NFT) marketplace.

According to the company, it will be closing all operations of its NFT platform on April 8, 2025, at 16:00 UTC. During that time, its related web pages will no longer be accessible.

As such, Bybit is advising users to take the necessary actions to withdraw and secure their NFT assets by the deadline. Along the way, it recommended other platforms for customers who still wish to continue managing or trading their NFT assets, including Ethereum chain's OpenSea, Blur, and Magic Eden.

In addition, the exchange directed Initial DEX Offering (IDO) participants with airdropped tokens at Bybit Web3 Cloud Wallets to move their tokens to Bybit Web3 seed phrase wallets or private key wallets for extra measure. Interested parties can contact the platform's Support Team for assistance or clarifications regarding the matter.

The move comes amid the continuously dipping NFT sales over the past couple of years. In fact, Coinpaper noted that the sector suffered from a 63% drop in sales year-over-year (YoY) between the first quarter of 2024 and 2025.

Even popular projects such as Crypto Punks and Bored Ape Yacht Club NFTs took the brunt of the trend with 47% and 61% losses, respectively, within the period.

Earlier this month, Bybit announced a partnership with Zodia Custory, an institution-first digital assets platform. Backed by Standard Chartered, Northern Trust, SBI Holdings, National Australia Bank, and Emirates NBD, the firm aims to provide best-in-class custody to a wide range of institutional investors.

For the partnership, the crypto exchange will be able to leverage Zodia’s Interchange solution, which offers independent asset custody through regulatory-grade infrastructure. It allows institutional users to deploy their capital for immediate trading on Bybit while their assets are fully segregated and remain in a fabric of cutting-edge technology.

Ultimately, the design prevents co-mingling between customers and Bybit assets, which exposes them to exchange-side risks. It also neutralizes counterparty risks and the need to pre-fund exchange accounts.

“At Bybit, our mission is to provide institutional-grade solutions that meet the evolving needs of sophisticated investors,” said Shunyet Jan, Head of Institutional and Derivatives at Bybit.

“Zodia Custody’s reputation as a trusted, highly regulated custodian makes it the ideal partner to safeguard our clients’ assets while enhancing capital efficiency.”