X2Y2 Collapse: 90% Volume Plunge Shocks NFT Traders—What’s Next?

X2Y2 Ends NFT Marketplace, eyes AI Future

X2Y2, a popular NFT marketplace, is closing its doors after three years. The platform will shut down on April 30, reflecting the downturn in NFT trading.

TP, the founder of X2Y2, announced the decision on March 31. He cited a meaningful drop in NFT trading volume as its peak in 2021. The marketplace onc reached $5.6 billion in trading volume but has since declined to $53.6 million. The team attributes this to a 90% decrease in NFT trading activity. Despite its initial success, the platform couldn’t keep up with the competition. X2Y2 was once the second-largest NFT marketplace, behind OpenSea. However, the decline in trading activity forced the team to rethink its strategy. The founder stated, “We’re ending X2Y2 as we know it, not pausing but stopping entirely.” the team learned that lasting value is more important than following trends.

TP explained, “The NFT market’s decline is one of the reasons for this move.” The platform’s smart contracts will stay active, but users should be cautious about the token’s future.

however, X2Y2 isn’t leaving the crypto world. The team plans to pivot into AI, calling it the “biggest shift we’ll see.” They aim to create something that uses AI for “yields in a permissionless way.” The exact details are still unclear, but the team is excited about the possibilities.

Following the announcement, the X2Y2 token’s value dropped by 6.95%. Users should be aware of this change and its potential impact on the token’s price.