$95,514.00
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-13.38%Reading
Ethereum NFT marketplace X2Y2 is shutting down its trading platform at the end of April, the firm announced Monday, as the development team pivots to the intersection of artificial intelligence (AI) and crypto.
X2Y2’s smart contracts will persist, so trades can still be executed, but users will not be able to use the website’s front-end after April 30.
“I know this might sting, especially when it comes to token price. X2Y2 tokens were tied to this NFT vision, and as we close this chapter, that's likely to hit hard,” said pseudonymous X2Y2 founder TP in a statement. “I feel that with you, and I'm not here to sugarcoat it.”
2/ What a ride it's been. We peaked as the 2nd largest NFT marketplace behind OpenSea, reached $5.6B in trading volume, and even today stand as the 3rd largest in the space. I'm immensely grateful to our amazing community who made this possible. pic.twitter.com/0b0MWIWc2f
— TP | X2Y2 (@tp_x2y2) March 31, 2025
The marketplace’s native Ethereum-based token—X2Y2—is down 13% in the last 24 hours to $0.0014 and now trades at a market cap below $540,000. The current price is more than 99% off its all-time high of $4.14 from February 2022.
Once a prominent competitor to major NFT trading platforms like OpenSea and Blur, X2Y2 ranks fourth all-time for Ethereum NFT trading volume, facilitating more than $5.6 billion in transactions according to TokenTerminal.
LG will shut down its NFT platform, LG Art Lab, on June 17, according to a notice published on its website earlier this month. The project, launched at the height of the NFT craze in September 2022, allowed users to display NFTs on their TVs and partnered with visual artists to launch digital art collections. “As the NFT space continues to evolve, we believe it is the right time to shift our focus and explore new opportunities,” the company stated. Ahead of the closure, all assets currently li...
The marketplace, which routinely saw more than $100 million in weekly NFT trading volumes in 2022, has recently processed around $1 million worth of trades weekly. The volume decline and general lack of interest in NFTs has led the team to discontinue the marketplace moving forward.
“Marketplaces live or die by network effects. We fought tooth and nail to be #1, but after three years, it's clear it's time to move on,” wrote the firm’s founder. “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.”
Despite closing its marketplace, the team is not leaving crypto entirely. Instead it will pivot its focus to the intersection of AI and crypto, primarily focused on “yields in a permissionless way, powered by AI.”
Analysts and investors have largely pronounced NFTs dead, with the market plunging to a three-year low in January. But NFT holders and creators aren't ready to consign them to the graveyard just yet. That much was clear as crypto entrepreneurs, degens, and investors paraded around NFT Paris 2025 last week. Image: NFT Paris The two-day conference, which bills itself as Europe's largest Web3 fair, brought an estimated 20,000 attendees to La Grande Villette, an imposing fortress-like structure at t...
“It's decentralized, it's innovative, and it's built to matter—bull or bear, cycle after cycle. This isn't just another project; it's our shot at creating real, long-term value in crypto, for the broader community we're proud to serve,” TP concluded.
No timeline for the new project was provided. X2Y2 did not immediately respond to Decrypt’s request for comment.
Edited by Andrew Hayward
An officially licensed “The Walking Dead” role-playing game based on the popular TV show will be shut down after July 31, according to blockchain game publisher Gala Games. The Walking Dead: Empires, a multiplayer survival game that was built around Ethereum NFTs, was playable in open beta for the last year after first being announced in late 2021. “After careful consideration, we have made the difficult decision to sunset The Walking Dead: Empires, with the last playable date set for July 31,...
FIFA Collect, the official digital collectibles platform for the International Federation of Association Football (FIFA) soccer organization, will migrate to its own Ethereum Virtual Machine (EVM) compatible FIFA blockchain—leaving behind Algorand in the process. Scheduled to occur no sooner than May 20, the migration away from Algorand does not require any immediate action from FIFA Collect users or NFT owners. “As FIFA Collect evolves, we are migrating the platform to the FIFA Blockchain, an...
A crypto-fueled twist on the Sega IP Sangokushi Taisen (aka Battle of the Three Kingdoms) is set to launch next week, developer Double Jump Tokyo announced on Friday. The impending game release comes almost two years after the studio revealed that it was developing the game under license from Sega. Launching on Wednesday, April 30, the strategic card battler KAI: Battle of the Three Kingdoms will be available in early access on PC and mobile. Prior to this launch, a three hour PC browser-only “l...
