X2Y2, an NFT marketplace launched in February 2022, will shut down on Apr. 30.

This announcement was made by its pseudonymous founder, TP, in a blog post.

The decision follows declining trading volumes and increased competition from platforms like Blur.

X2Y2 reached its peak in May 2022 with a monthly trading volume of US$209 million, but the NFT market has seen a 90% drop in overall trading since 2021.

Despite the shutdown, X2Y2’s smart contracts will remain active, allowing users to interact with them.