<ul><li>Bybit, a leading cryptocurrency exchange, is shutting down its NFT marketplace, Inscription Marketplace, as part of a trend of companies exiting the NFT space.</li><li>The decision to close the NFT marketplace comes after Bybit experienced a major security breach and aims to simplify its services.</li><li>Other companies, including X2Y2, Kraken, Nike, and LG, have also closed their respective NFT platforms.</li><li>The NFT market has seen a significant decline in value, with collections like CryptoPunks and Bored Ape Yacht Club experiencing large drops in prices.</li></ul>

Market Downturn: ByBit Halts Operations of its NFT Platform, Inscription Marketplace

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