NFT Marketplace X2Y2 Bites the Dust: Token Tanks, AI to the Rescue!

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In a move that surprised absolutely no one who’s been paying attention to the NFT circus, X2Y2, the once-mighty NFT marketplace, has announced it’s pulling the plug on April 30, 2025. 🎪💥 Three years of digital art trading, memes, and questionable monkey pictures have come to an end. It’s like the Titanic, but with more JPEGs and fewer icebergs.

The platform, which once flexed a $5.6 billion trading volume, blamed its demise on declining NFT interest and network issues. Apparently, people got bored of buying pixels for absurd amounts of money. Who could’ve seen that coming? 🤔

TP’s Farewell Speech: A Tale of Glory and Gloom

TP, the founder of X2Y2, took to Twitter to reminisce about the good old days. You know, when people actually cared about NFTs. He waxed poetic about the platform’s rise to the second-largest NFT marketplace, right behind OpenSea. 🥈

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.

— TP | X2Y2 (@tp_x2y2) March 31, 2025

But alas, even the best parties must end. TP admitted that the NFT market’s decline and the loss of network effects made it clear that continuing was as sensible as trying to sell sand in the Sahara. 🏜️

While the platform is shutting down, the smart contracts will remain functional. So, if you’ve got any digital monkeys or pixelated punks lying around, you can still access them. 🐒

AI to the Rescue: Because Why Not?

Instead of crying over spilled NFTs, TP announced that X2Y2 is pivoting to AI-powered crypto innovation. Because when one bubble bursts, you jump straight into the next one, right? 🎈

The team has been exploring AI’s role in decentralized finance and plans to build a new project focused on permissionless yield generation. Because nothing says “innovation” like throwing AI at a problem and hoping it sticks. 🤖

5/ We’re building something new: yields in a permissionless way, powered by AI. It’s decentralized, innovative, and designed to create value cycle after cycle – not just riding trends.

— TP | X2Y2 (@tp_x2y2) March 31, 2025

TP urged the community to stay tuned for the next big thing. Because if there’s one thing crypto loves, it’s promises of a brighter future. 🌈

Token Tanks: A Tale of Woe

Unsurprisingly, the X2Y2 token took a nosedive after the announcement, dropping 6.54% in 24 hours to a whopping $0.001541. Over the past year, it’s lost 90% of its value, making it the crypto equivalent of a penny stock. 💸

TP acknowledged that the token’s value was tied to the NFT marketplace’s vision, and the shutdown would inevitably impact its price. But hey, AI is the future, right? So, maybe the token will bounce back. Or maybe it’ll just keep sinking. Who knows? 🤷‍♂️

Source: TradingView

As the chart above shows, the X2Y2 token’s RSI is in oversold territory, and the price action is breaking out of the lower end of the Bollinger Bands. In layman’s terms: it’s not looking good. 📉

The End of an Era: NFTs R.I.P.?

X2Y2’s closure is a sign of the times. The NFT market, once the darling of the crypto world, is now a shadow of its former self. Instead of clinging to a sinking ship, the team has decided to jump into the AI bandwagon. Because when one trend dies, another one is always waiting in the wings. 🎭

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2025-03-31 23:22