In a surprising move, the NFT marketplace X2Y2 is closing its doors after three years of service. Known for its unique features, including a 0% private sale fee, X2Y2 emerged during the height of the NFT boom. However, the platform will now pivot towards a new project focused on artificial intelligence (AI) and its application in the crypto world. Let’s dive into the X2Y2 shuts down news of the day.
The End of an Era for X2Y2
X2Y2, which started with a retroactive airdrop, quickly became a popular choice among NFT traders. Despite the platform’s initial success, it faced the same inevitable cycle that often impacts crypto projects: change. On March 31, the team behind X2Y2 made an official announcement, revealing that the marketplace would be shutting down on April 30. This marks the end of a notable chapter in the NFT space.
According to the announcement, X2Y2’s team is excited to shift gears towards AI. They explained, “Over the last 12 months, we’ve been diving deep into AI—hands down the biggest paradigm shift we’ll see in our lifetimes—and how it can transform crypto. We’re building something new.”
A Transition to AI-Driven Projects
While the NFT market is seeing a cooling period, the AI-driven crypto project X2Y2 is focusing on promises to create long-term value. The team envisions a platform powered by AI that will allow users to earn profits across market cycles, from bear to bull runs. The new project will likely be decentralized, giving users a chance to benefit from AI-powered trading.
Despite a significant drop in token values tied to AI agents, the X2Y2 team remains optimistic. They are positioning their project as more than just another crypto initiative. Instead, they’re aiming to create “real, long-term value” for the broader crypto community.
Related: Check out our curated list of AI Airdrops
NFT Market Trends: What’s Next?
Although the closure of X2Y2 is a major event, it doesn’t signify the downfall of NFTs themselves. Many experts, like Charu Sethi, president of Unique Network, believe that NFTs are entering a new phase. According to Sethi, the speculative phase that focused on collectibles and trading is over. Now, NFTs are evolving into core infrastructure that will play a crucial role in areas such as gaming, AI, fan engagement, and content authentication.
For example, companies like Mythical Games are already making strides in the blockchain gaming sector, integrating NFTs into in-game experiences. DappRadar reports that the blockchain gaming sector saw 7.4 million daily active wallets in 2024, signaling that NFTs still have significant potential in the future of gaming and digital assets.
The Importance of Utility
The key takeaway from X2Y2’s shutdown is that NFT platforms should pivot toward utility-driven models. This shift will ensure consistent user engagement and market resilience. Platforms focusing on real-world applications, like gaming, sports fandom, or AI-backed solutions, are likely to succeed in the long run.
Sethi and Alexander Salnikov, co-founder of the Rarible NFT marketplace, both agree that the next wave of NFTs will focus on strong use cases. These could include gaming, digital identity, or brand engagement. In other words, the future of NFTs isn’t about speculative trading but about creating ecosystems where NFTs have a lasting impact.
X2Y2 Users: It’s Time to Revoke Your Approvals
If you’ve used X2Y2 in the past, it’s time to clean up your crypto wallet. With the platform shutting down, users should revoke any active contract approvals to avoid potential phishing risks. It’s a good idea to take action before the shutdown date to ensure your funds are secure.
To revoke your approvals, simply paste the following X2Y2 contract addresses into a tool like revoke.cash:
- 0xF849de01B080aDC3A814FaBE1E2087475cF2E354
- 0xeF887e8b1C06209F59E8Ae55D0e625C937344376
- 0xB81965DdFdDA3923f292a47A1be83ba3A36B5133
- 0x74312363e45DCaBA76c59ec49a7Aa8A65a67EeD3
By doing this, you’ll reduce the chances of falling victim to phishing attacks as gas prices remain low. Please check this video on how to do it.
What’s Next for X2Y2 Users?
For those who have enjoyed using X2Y2, it’s important to remember that the NFT space is far from over. Even though X2Y2 is shutting down, the market is shifting toward platforms that emphasize utility. Whether through gaming, AI applications, or digital identity solutions, NFTs will continue to evolve.
In conclusion, while X2Y2 Shuts down, the world of NFTs is far from finished. The closure marks a significant turning point, but also a new opportunity for NFT platforms to focus on long-term value creation. Keep an eye on the next big thing in NFTs, as the sector’s evolution is just getting started..
If you enjoyed this blog, check out the recent news of a potential PENGU ETF.
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