X2Y2 Shuts Down NFT Marketplace, Eyes AI Future Amid Crypto Slump

NFT Trading Volume Plummets, Prompting Strategic Pivot

Hold onto your hats, crypto fans! X2Y2, the once-thriving NFT marketplace, is pulling the plug on April 30. After three wild years, they're throwing in the towel on NFTs, blaming the brutal drop in trading activity and the cutthroat competition that's making it impossible to keep up.

The mastermind behind X2Y2, the enigmatic TP, dropped the bombshell in a March 31 statement. "We're sunsetting X2Y2 as an NFT marketplace," TP declared, pointing out the jaw-dropping 90% nosedive in NFT trading volume since its 2021 peak. "That's just one of the many punches we've taken."

"The NFT chapter taught us a lot — most of all, that lasting value beats chasing trends. That lesson's why we're drawing a line here, not a pause or a maybe, but a full stop on X2Y2 as we knew it."

TP, founder of X2Y2

X2Y2 was once the belle of the ball, hitting a staggering $5.6 billion in all-time trading volume and briefly claiming the title of the second-largest NFT marketplace, right behind OpenSea. But now? It's dwindled down to a measly $53.6 million, according to the latest numbers from Token Terminal.

Even though the platform's smart contracts will keep chugging along, letting users keep interacting with them, the team's warning bells are ringing loud and clear: the shutdown could send the X2Y2 token into a tailspin.

"I know this might sting, especially when it comes to token price. X2Y2 tokens were tied to this NFT vision, and as we close this chapter, that's likely to hit hard. I feel that with you, and I'm not here to sugarcoat it."

TP, founder of X2Y2

As if on cue, the X2Y2 token took a 6.95% nosedive following the announcement, according to the latest data from crypto price aggregators.

But don't count X2Y2 out just yet! They're not waving goodbye to crypto entirely. Instead, they're setting their sights on the next big thing: AI. TP and the team are calling it "hands down the biggest paradigm shift we'll see in our lifetimes." They're keeping their cards close to the chest, but they're promising that their next venture will "take everything we've learned and aim higher," focusing on "yields in a permissionless way, powered by AI."