Catenaa, Saturday, April 05, 2025- NFT marketplace X2Y2 will shut down on April 30, citing a sharp decline in trading volume.
Once a major competitor to OpenSea, X2Y2 struggled against newer platforms like Blur and the broader downturn in the NFT market.
Founder TP confirmed in a blog post that the closure is a definitive end rather than a temporary pause.
“Marketplaces live or die by network effects,” TP wrote. “We fought to be No. 1, but after three years, it’s clear it’s time to move on.”
The platform’s smart contracts will remain operational, allowing users to access existing assets, but no further development is planned.
Despite the shutdown, X2Y2 is planning a pivot toward artificial intelligence-driven crypto solutions. TP described the new project as an AI-powered decentralized finance platform designed to provide long-term value in both bull and bear markets.
X2Y2’s token price fell 7% following the announcement and has dropped 89% over the past year. The company has not disclosed a timeline for its AI initiative but promised more details in the coming months.
