X2Y2 NFT Marketplace to Shut Down Amid 90% Decline in Trading Volume

The nonfungible token (NFT) platform X2Y2 announced it will officially shut down on April 30, 2025. This highlights the diminishing market interest in NFTs

Nonfungible token (NFT) platform X2Y2 announced it will officially shut down on April 30, 2025. This marks the complete closure of the platform after three years of operation.

The firm said it will be pivoting toward Artificial Intelligence and offering more useful crypto investment products.

The firm said it will be pivoting toward Artificial Intelligence and offering more useful crypto investment products.

“We’re closing the door on X2Y2 as you knew it on April 30, 2025,” the firm announced.

The firm had a cumulative trading volume of $5.6 billion and currently ranks third largest in-game NFT platform.

“We fought tooth and nail to be #1, but after three years, it’s clear it’s time to move on. 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.”

The firm might be winding down its NFT business but will pivot towards Artificial Intelligence and offer more useful crypto investment products.

The firm might be winding down its NFT business but will pivot towards Artificial Intelligence and offer more useful crypto investment products.

Although the announcement didn’t delve into the details of the new project, it teased a potential yield-based product that AI could govern.

X2Y2’s demise highlights another painful end to a crypto use case hyped to be the next big thing in crypto’s last bull cycle.

OpenSea Struggling To Keep Afloat

The NFT bust is not limited to the once-second-largest NFT trading platform; even the market leader OpenSea is struggling to keep up with changing trends and a dying digital collectible ecosystem.

According to data from Defilama, OpenSea’s revenue has sunk to a few hundred thousand from millions in December.

OpenSea planned to revive the platform with a new look and broader ecosystem and announced a token launch in February. However, a month later, it has not announced any further details .

Each bull cycle, a new crypto use case gets popularised to the point of being a “bubble.“ In 2017, initial coin offerings (ICOs) became the top trend, with billions of