X2Y2 NFT Marketplace to Shut Down Operations on April 30, 2025

Non-fungible token (NFT) marketplace X2Y2 has announced that it will shut down operations on April 30, 2025, marking the end of a three-year journey that once saw it rise to the second-largest

Non-fungible token (NFT) marketplace X2Y2 has announced that it will be shutting down its operations on April 30, 2025. The platform, which rose to become the second-largest NFT marketplace after OpenSea, will be shutting down after amassing a cumulative trading volume of $5.6 billion.

The platform’s founder TP took to Twitter to address the community and announced the closure of the NFT marketplace.

Announcing the closure of X2Y2

Announcing the closure of X2Y2

After a fantastic beta launch on February 6, 2022, and a year of pivoting, hustling, and building together with the best community in crypto, the time has come for X2Y2 to close its doors on April 30, 2025.

As the 2nd largest NFT marketplace after OpenSea, X2Y2 has hit $5.6B in trading volume and stands as the 3rd largest in the space today. None of this would have been possible without our amazing community. I’m immensely grateful for each and every one of you.

However, despite the team’s best efforts, the sharp decline in NFT trading activity and the loss of network effects have made it clear that continuing operations is no longer viable.

While the platform will be shutting down, its smart contracts will remain functional, granting users access if needed.

Instead of viewing this as an end, TP highlighted that this marks the beginning of a new focus for the team.

Over the past year, the team has been exploring AI’s role in decentralized finance and plans to build a new project centered on "permissionless yield generation powered by AI."

The goal is to create a sustainable, long-term value proposition rather than following short-lived market trends.

TP stated:

‘We’re building something new: yields in a permissionless way, powered by AI. It’s decentralized, innovative, and designed to create value cycle after cycle – not just following trends.’

The founder invited the community to stay involved, assuring them that the team’s next initiative will be built with innovation and longevity in mind.

Following the announcement, the X2Y2 token dropped 6.54% in the past 24 hours, reaching $0.001541.

Over the past year, it has suffered a significant 90% decline and now ranks 3836th on CoinMarketCap. The 20-day Exponential Moving Average (EMA) at $0.0017545 presents immediate resistance for the X2Y2 token.

TP acknowledged that the token’s value was closely tied to the NFT marketplace’s vision, and the shutdown would inevitably impact its price.

Recognizing the challenges the token faced, he maintained that the shift toward AI-driven solutions would ultimately create greater long-term value for the community.

Source: TradingView

As per the chart above, it is clear that the Relative Strength Index (RSI) has entered oversold levels for the X2Y2 token while the gradient of the line suggests further downside.

On the other hand, the price action of the altcoin is breaking out of the lower end of the Bollinger Bands (BB), losing crucial support. If the lower Band at $0.0015853 isn’t reclaimed soon, X2Y2 faces the risk of further downside.

X2Y2’s closure is a testament to the broader struggles in the NFT sector, which has seen declining interest and liquidity in recent years.

Rather than continuing to fight for relevance in a shrinking market, the team has chosen to pivot toward AI and decentralized finance, seeking to create something new and enduring.