Crypto exchange Bybit has announced a major restructuring of its Web3 division. The company plans to retain only four products — Seed Phrase Wallet, Airdrop Arcade, Onchain Staking, and access to dApp services. All other features, including the NFT platform and associated services, will be completely shut down.
NFT No Longer a Priority
The NFT Pro platform, NFT Marketplace, and the inscription assets market will cease operations on May 31, 2025. After this date, users will lose access to the services, and any NFTs left in accounts will become unavailable for withdrawal or trading. Bybit advises users to transfer all digital collectible assets to external wallets or platforms such as OpenSea as soon as possible.
Closure of Cloud and Keyless Wallets
Support for two wallets — Cloud Wallet and Keyless Wallet — will end by the end of May. Users are asked to withdraw their tokens, NFTs, and inscription assets in advance and to unstake any locked assets beforehand. Bybit also highlights the importance of topping up wallets with gas tokens to ensure transaction completion.
Keyless Wallet, as a decentralized solution, allows users to maintain full control of their private keys. Bybit has promised to soon provide a key export feature for users who plan to continue using the wallet through third-party applications.
DEX Pro, IDO, and Other Tools
Starting April 8 and continuing through the end of May, the following products will be gradually deactivated: Dex Pro, the IDO platform, Web3 Points, ApeX, crypto purchase features, Swap & Bridge, and the market trading page. According to Bybit, these features do not align with the company’s updated strategy and will no longer be supported.
Services such as Airdrop Arcade, Onchain Staking, and access to decentralized applications will remain active. The company plans to focus on improving these features and enhancing the overall user experience.
What Users Should Do
Bybit recommends that users do not delay in transferring assets from the platforms being discontinued. If withdrawal deadlines are missed, identity verification (KYC) may be required, potentially causing delays. Detailed instructions for transferring tokens, NFTs, and inscription assets are available in the user support center.
The company emphasizes that these changes are aimed at "optimizing products and moving into the next phase of development," but users have already expressed concern over the shutdown of services, particularly those related to NFTs.
This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.