X2Y2 Shuts Down NFT Marketplace, Shifts Focus to AI and Crypto

Ethereum NFT marketplace X2Y2 has announced its decision to shut down its trading platform by the end of April 2025. The move comes as the development team shifts its focus towards the intersection of artificial intelligence (AI) and cryptocurrency. The platform's smart contracts will continue to function, allowing for the execution of trades, but users will no longer be able to access the website's front-end after April 30.

The founder of X2Y2, known by the pseudonym TP, acknowledged the potential impact on token holders, stating that the shutdown is likely to affect the price of X2Y2 tokens, which were closely tied to the platform's NFT vision. Despite the challenges, TP expressed gratitude to the community for their support and emphasized the team's commitment to creating lasting value in the crypto space.

X2Y2, once a prominent competitor to major NFT trading platforms, has seen a significant decline in trading volumes. The platform, which facilitated over $5.6 billion in transactions, has recently processed around $1 million worth of trades weekly. The volume decline and general lack of interest in NFTs have led the team to discontinue the marketplace.

The decision to shut down the marketplace is not a pause or a temporary halt but a definitive end to X2Y2 as it was known. The team is pivoting its focus to the intersection of AI and crypto, primarily focused on "yields in a permissionless way, powered by AI." This shift reflects the team's belief in the potential of AI to drive innovation and value in the crypto industry.

Despite the closure of the NFT marketplace, the team is not leaving the crypto space entirely. Instead, they are exploring new opportunities at the intersection of AI and crypto, aiming to create real, long-term value for the broader community. The team's focus on lasting value and innovation positions them well for future success, even as they close one chapter and begin another.