The NFT trading platform X2Y2 has announced that it will cease operations entirely 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, smart contracts will remain functional, so users don’t need to rush to withdraw their assets.

“I know this may be upsetting, especially when it comes to the token price. X2Y2 tokens were tied to the NFT vision, and as we close this chapter, it’s likely to have a significant impact [on prices]. I’m not going to sugarcoat this,” he said.

One of the reasons behind the platform’s closure is the 90% decline in NFT trading volume since its peak in 2021. TP also pointed to the network effect:

“We fought hard to be #1, but after three years, it became clear that it’s time to move on. The NFT chapter taught us a lot—most importantly, that lasting value always wins over chasing trends.”

The executive is now planning 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 isn’t just another project; this is our chance to create real, long-term value in crypto for the broader community,” he wrote.

X2Y2 launched its beta version on February 6, 2022. Over time, the platform reached a total trading volume of $5.6 billion and, at its peak, was the second-largest NFT marketplace after OpenSea. Recently, it ranked third, according to Token Terminal.

According to last year’s CoinGecko research, the X2Y2 token became the second most profitable airdrop in the short term, surging 121% by the second day.

In February 2025, OpenSea introduced the beta version of its OS2 platform and announced an airdrop.