NFT Marketplace X2Y2 to Shut Down and Pivot Towards AI Innovation

After three years in the game, NFT marketplace X2Y2 is shutting down. But instead of disappearing, the team is making a bold move—ditching the marketplace model to dive headfirst into artificial intelligence (AI). The official shutdown is set for April 30, marking a major transition as X2Y2 embraces AI’s potential in the crypto space.

In their March 31 announcement, the team described AI as “the biggest paradigm shift we’ll see in our lifetimes.” Over the past year, they’ve been exploring how AI can revolutionize crypto, and now, they’re all in on building something new.

X2Y2’s Market Standing and Trading Volume

Despite its closure, X2Y2 remained a key player in the NFT world. Token Terminal data shows it recorded $53.6 million in trading volume over the past year—nowhere near Blur’s $3 billion, but still enough to rank fourth behind Blur, OpenSea, and Immutable.

The NFT market has evolved beyond the hype of collectibles and speculation. According to Charu Sethi, president of NFT-focused Polkadot and Kusama chain Unique Network, this shift doesn’t mean NFTs are dying—it means they’re maturing. She believes NFTs are now entering a phase where they’ll be used for gaming, AI, fan engagement, and content authentication.

The Future of NFTs: Beyond Trading Hype

Sethi pointed to real-world applications already taking shape. Mythical Games, for instance, has been integrating NFTs into gaming on the Polkadot blockchain after securing a $75 million fundraise in 2021. Meanwhile, a DappRadar report highlighted blockchain gaming’s explosive growth, with 7.4 million unique active wallets daily in 2024.

For Sethi, X2Y2’s shift is a wake-up call for NFT platforms—marketplace network effects aren’t enough to sustain long-term success. The future belongs to projects that focus on community, utility, and real-world integration, rather than just hype-driven speculation.

AI and Crypto: A Boom, Bust, and Rebirth?

X2Y2’s AI pivot comes at a time when AI-driven crypto projects are experiencing turbulence. In early February, reports showed AI-related tokens had plunged as much as 90% from their 2024 highs. But market veterans say this is nothing new—it’s reminiscent of the rise, fall, and eventual resurgence of ICOs.

Despite these market cycles, AI remains one of the most promising innovations in blockchain. X2Y2’s decision to shift into AI-driven crypto development aligns with a larger industry trend: using AI to enhance decentralized applications, automation, and data-dri

ven decision-making.

Source- https://cointelegraph.com/

This is non-financial/medical advice and made using AI so could be wrong.