NFT exchange X2Y2 announced it is shutting down after three years of operation, with the closure set for April 30. The team plans to shift its focus toward an artificial intelligence project aimed at utility-based value generation in the crypto sector. They expressed enthusiasm for the potential of AI to transform cryptocurrency, stating they are working on a new concept that facilitates earning profits in various market conditions. X2Y2 achieved $53.6 million in trading volume over the past year, positioning it behind industry leaders like Blur and OpenSea. In light of X2Y2's closure, industry experts suggest that the NFT market is evolving beyond speculation into a phase where utility and community engagement are critical. Initiatives like gaming integration and real-world applications are emphasized as essential for future NFT platforms, highlighting the need for more sustainable models rather than relying solely on marketplace traffic. The future project is expected to leverage AI technologies to create ongoing value, steering the industry towards more practical uses of non-fungible tokens.

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