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The End of NFTs? Bybit Shuts Down Its Marketplace!

NFTs were once selling for millions, but now, entire marketplaces are shutting down. Is this the end of NFTs as we know it?

Bybit, one of the biggest crypto exchanges, just announced it’s shutting down its NFT marketplace on April 8, 2025. And it’s not just them, NFT trading volume has crashed by over 95% since its peak.

So, what went wrong? And more importantly, is there still a future for NFTs? Let’s break it down.

First, let’s talk numbers. A year ago, daily NFT trading volume was 18 million dollars. Today, just 5.34 million. And if we go back to December 2024, when NFTs were still hot, that number was over 113 million dollars. That’s a massive collapse.

Even projects that once had huge hype are struggling. Gutter Cat Gang’s new token sale aimed for one million dollars, but barely raised 6,800. That’s a brutal reality check for the speculative NFT market.

So why is this happening? The speculative phase of NFTs, where people flipped digital art for insane profits, is over. The hype has died down, and investors are no longer blindly throwing money at projects.

But does this mean NFTs are dead? Not exactly. Experts believe the future of NFTs lies in utility, gaming, AI, fan engagement, and digital ownership.

The bubble may have popped, but NFTs could still evolve into something much bigger.

What do you think? Are NFTs finished, or is this just a new beginning? Let me know in the comments!

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