After three years in the NFT game, X2Y2 is officially shutting down its marketplace on April 30. While the platform’s smart contracts will still work, the website and front-end access will go offline. That means no more buying, selling, or browsing 

NFTs on X2Y2.

The move comes after a brutal drop in activity—trading volume has plunged 90% from its peak. Once seen as a strong challenger to OpenSea and Blur, X2Y2 hit a high of $209 million in monthly volume back in May 2022. But as interest in NFTs cooled off and competition grew, things took a nosedive.

The platform’s native token, X2Y2, also took a hit—dropping 13% in the past day to just $0.0014, down more than 99% from its all-time high.

“Marketplaces live or die by network effects,” said founder TP. “We gave it our best, but it’s time to move on.”

Still, the X2Y2 team isn’t leaving crypto. They’re now building something new—decentralized finance tools designed to stay relevant across market cycles. TP hinted that the next project will be focused on generating yield in a permissionless way.

X2Y2 isn’t alone. LG is also shutting down its NFT platform, and other marketplaces are seeing steep drop-offs.

But all hope isn’t lost—NFTs are still evolving. Use cases in gaming, digital identity, and brand engagement are gaining traction. The next wave might not be about hype—it might be about utility.