X2Y2, once a leading market for non -fungible tokens (NFT) will close on April 30, ending a three -year race that saw the exchange briefly on the negotiation volume during the 2021 NFT boom.
The decision occurs when the broader NFT market continues to deflate. Commercial volumes have fallen almost 90% since its peak, the team wrote in a publication, and X2y2 fought to maintain the effects of the critical network for market success.
“The markets live or die due to network effects,” the founder TP wrote in a publication. “After three years, it is clear that it is time to move on.”
X2Y2 began at the beginning of 2022 and reached $ 5.6 billion in the volume of negotiation of all time, according to Tokentermal data.
Smart contracts linked to the platform will remain operational, but users are encouraged to withdraw assets or transition activities on the closing date. The price of the native market token x2y2 has dropped 10.7% in the announcement of operating now more than $ 0.001. Token has lost 97.7% of its value in the last two years.
The team said that it is revolving a new project that involves decentralized financial tools with AI.
