When NFTs Go Poof: X2Y2 Bids Adieu to the Digital Art Circus!
In a move that can only be described as “not entirely unexpected,” X2Y2, the once-mighty NFT marketplace, has decided to close its doors after a three-year stint that can only be likened to a rollercoaster ride—if the rollercoaster was made of spaghetti and the tracks were covered in banana peels. 🍌
Launched with all the fanfare of a marching band in a library, X2Y2 aimed to be the shiny alternative to OpenSea and LooksRare. However, as of April 30, it will be shutting down, citing a staggering 90% drop in trading activity. Apparently, the digital art world is not as stable as a three-legged chair on a ship in a storm. 🌊
In a statement that could have been delivered by a wizard with a crystal ball, the enigmatic TP, founder of X2Y2, declared that the team is “sunsetting X2Y2 as an NFT marketplace.” This is code for “we’re throwing in the towel and taking up knitting instead.” The 90% shrinkage in trading volume since the dizzy heights of 2021 is, according to TP, “for sure one of the many reasons.” Who knew that chasing digital cats and pixelated penguins could be so fleeting? 🐱👤
“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.”
— TP, founder of X2Y2
Once a titan in the realm of digital collectibles, X2Y2 boasted an all-time trading volume of $5.6 billion, which is a number so large it could make a dragon blush. Now, it has shrunk to a mere $53.6 million, which is about as impressive as a flat tire on a unicycle, according to the wise sages at Token Terminal.
Fear not, dear users! The platform’s smart contracts will remain operational, allowing you to interact with them, much like trying to have a conversation with a particularly stubborn cat. However, the team has warned that this shutdown could have a rather unfortunate impact on its token. 😿
“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. I feel that with you, and I’m not here to sugarcoat it.”
— TP, founder of X2Y2
In the wake of this news, the X2Y2 token took a nosedive of 6.95%, which is about as welcome as a rainstorm at a picnic, according to crypto price aggregators. ☔
But don’t go crying into your digital wallets just yet! While X2Y2 is closing its marketplace, it’s not completely abandoning the crypto ship. The team has hinted at a pivot into AI, which they claim is “hands down the biggest paradigm shift we’ll see in our lifetimes.” No details were provided, but they did mention something about “yields in a permissionless way, powered by AI.” Sounds fancy, doesn’t it? Let’s just hope it doesn’t involve more digital cats. 🐾
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2025-03-31 14:54