The NFT trading platform X2Y2 announced its complete shutdown on April 30, three years after its launch.
1/ After an incredible 3-year journey, I have some important news to share: X2Y2 will be sunsetting as an NFT marketplace on April 30, 2025. The contracts will remain live, but the platform itself will shut down.
— TP | X2Y2 (@tp_x2y2) March 31, 2025
According to the project’s CEO, known as TP, the smart contracts will continue to operate, so there is no rush to withdraw assets.
“I know this may be unpleasant, especially regarding the token price. X2Y2 tokens were tied to the NFT vision, and as we close this chapter, it will likely hit [the quotes] hard. I’m not going to sugarcoat it,” he stated.
One reason for the platform’s closure was a 90% drop in NFT trading volume from its peak in 2021. Additionally, TP cited the network effect:
“We fought hard to become #1, but after three years, it became clear that it’s time to move on. The NFT chapter taught us a lot — above all, that enduring value triumphs over chasing trends.”
The top manager plans a new project in the AI sector, with details to be revealed later.
“Imagine: permissionless yield powered by AI. It’s decentralized, it’s innovative, and it’s built to matter — bull or bear, cycle after cycle. This is not just another project; it’s our chance to create real, long-term value in crypto for the broader community,” he wrote.
The beta version of X2Y2 was launched on February 6, 2022. During this time, the platform achieved a cumulative trading volume of $5.6 billion and at its peak was the second-largest NFT market after OpenSea. Recently, the platform ranked third in this rating, according to Token Terminal.
According to last year’s study by CoinGecko, the X2Y2 token became the second-highest in short-term maximum yield after the airdrop — it gained 121% by the second day.
In February 2025, OpenSea introduced the beta version of the OS2 platform and announced an airdrop.