NFT marketplace X2Y2 has announced its shutdown after three years of operation, effective April 30. The team is pivoting to focus on an AI-driven crypto project aimed at generating sustainable, utility-based value. In a statement, the team expressed their belief that AI represents a significant paradigm shift that can transform the crypto landscape. Despite achieving $53.6 million in trading volume over the past year, X2Y2 ranks behind major players like Blur and OpenSea. Experts suggest that while speculative trading of NFTs has declined, the next phase will focus on integrating NFTs into areas such as gaming and fan engagement, emphasizing utility over speculation. Initiatives like Mythical Games' issuance of NFTs for in-game use are indicative of this trend. The new AI project aims to allow users to earn profits in varied market conditions, promising a decentralized approach to trading.

Source 🔗