- X2Y2, with $5.6B volume, shuts down April 2025, citing NFT market crash, pivoting to AI-powered DeFi.
- Founder confirms smart contracts stay active, urging users to follow his social media for updates on new AI project.
- 90% NFT volume drop forces X2Y2’s “full stop,” as they build a permissionless, AI-driven DeFi product.
NFT marketplace X2Y2 will sunset its operations on April 30, 2025, marking an end to its three-year operation. “The smart contracts will keep running, so you can still interact with them as needed—no rush to pull anything,” wrote the founder on X. The platform has a cumulative trading volume of $5.6 billion, trailing closely behind the largest NFT market after OpenSea.
The abrupt shutdown has sparked curiosity among users given the token price. X2Y2 tokens were heavily tied to this NFT vision. However, the 90% shrinkage of NFT trading volume from its 2021 peak is attributed to one of the key reasons behind the exit decision. The changing dynamics in the digital collectibles space is obvious.
While NFT trading volume has tumbled 63% since December, the increasing integration of artificial intelligence into NFT projects signals a shift toward more dynamic, interactive digital assets with enhanced utility,” DappRadar analyst Sara Gherghelas recently stated. Gherghelas cited the downturn in NFT valuations to its correlation with crypto prices.
We fought tooth and nail to be #1, but after three years, it’s clear it’s time to move on. 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.
X2Y2 Next Gamble: Building the Future of Permissionless DeFi
As it closes its NFT chapter, the platform is pivoting to AI, framing it as “the biggest paradigm shift.” They are now closely working on building “something new” in the AI space. While details are not explicitly revealed, X2Y2 is creating a DeFi (Decentralized Finance) product that is permissionless and powered by AI. The platform remains committed to offering “real, long-term value in crypto and for the broader community.”
As it embarks on its new journey, TP, the founder, urged users to follow his social media handle for the latest updates.