One of the largest NFT markets, the X2Y2 announced on April 30, 2025 to close operations.
The company is now moving towards artificial intelligence, but with a crypto lens.
Since the launch in February 2022, X2y2 He quickly appeared as a strong competitor to Opensea, even at some point. The transaction volume of the platform exceeded $ 5.6 billion and strengthened its status as the second largest NFT market.
However, its sovereignty decreased because trade volumes decreased – 90% of the 2021 summits withdrawn – new competitors, such as Blur, made it difficult for the X2Y2 to preserve the posture.
The founder, which was called anonymously and called only the TP, wrote that the team was “really hard” to stay at the top, but it was necessary to give up the NFT market.
“Market places are an increase and fall function of network effects,” TP said. Even if they work hard to become a leading platform, they said they were successful three years later; It was better to continue.
The closure of the X2Y2 proposes a wider tendency in the field of NFT, because many of these platforms are struggling to survive after the explosion and bust of the market.
Users can still interact with smart contracts
X2Y2 smart contracts will still be operational after the platform is closed. They will continue to be interactive and accessible for users without instant funding power.
The announcement immediately affected the token price of the X2Y2, which fell 7% following the news and fell 89% last year.
While the X2Y2 moves away from the NFT, the team does not completely leave the crypto area. Instead, they start A big pivotta oppositeArtificial Intelligence (AI).
Last year, the team behind the X2Y2 is investigating AI’s power over the crypto world and believes it is the key to the long -term victory.
TP said that they were intensively discovered AI last year, how our lives could change the biggest paradigm change and crypto.
NFT Market faces a difficult journey while closing more platforms.
B.CIn 2021, the ST by Fad-Status, the ST, was completely forgotten.
Art Blocks, a former leader in the productive art movement, decreased by 95% of the transaction volume and a 88% decrease in sales. Superrare, famous for its unique digital artworks, saw that the transaction volume decreased by 94% and 98% of sales.
In the meantime, the foundation, which has a market place once, has everything except that the trade volume is affected by Dow.n 99% .8 and sales are completely evaporated.
In 2022, other sites, including MakersPlace and Consciousness purchased by EBAY, are closed or there are closed closures. The comparison of the 2021 best 20 Art NFT collections for trade volume and sales shows that they decreased from 2024 to an average of 95%.
Interest in art NFTs, “He did not die,” said Dapp Radar, “If these numbers cannot inspire the reign of the market, they will help to provide some contexts.” He said. On the contrary, this segment is only a more selective, value -oriented than swallowed speculation. Sunday.“
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