NFT marketplace X2Y2 goes out of business after 3 years, shifting to AI business

NFT marketplace X2Y2 will shut down operations after three years and transition into an AI-based crypto project that creates sustainable value.
On the 31st (local time), X2Y2 announced through an official announcement that it would end its service on April 30th.
"We've reached an inflection point. Over the past 12 months, we've been doing a deep dive into how AI can transform crypto assets," he said in a statement.
"AI is the biggest paradigm shift in our lifetimes, and we are building something new," said Token.
According to Terminal data, X2Y2 recorded $53.6 million in trading volume over the past year.
While it's still a long way behind the number one market leader, Blur, with $3 billion in trading volume, X2Y2 maintained its fourth place position behind Blur, OpenSea, and Immutable.
Charu, chairman of NFT platform Unique Network
Sethi said the decision shouldn't be interpreted as a decline in the NFT market.
He also said, "The speculative stage of the NFT market, which was focused on collectibles and trading, is over, but there are practical areas of application such as gaming, AI, fan participation, and content authentication.
A new era of growth is dawning."