You are able can an Asset Type through the Web Portal if it is no longer required. Archived Asset Types can be reactivated at any time if you need to use them again.
In the Web Portal go to Assets > Asset Types > Select the checkbox next to the Asset Type you want to archive > Select Archive from the dropdown > Go.
Please Note: Archiving an Asset Type will also affect access to the Assets associated with it. These will become available again when the Asset Type is reactivated.