X2Y2, when a leading marketplace for non-funny symbols (NFT) closes on April 30, and ends a three-year race, which saw that Exchange card spores only open in the trading volume during the NFT boom in 2021.

The decision comes as the wider NFT market continues to empty. Trading quantities have fallen almost 90% since their peak, the team wrote in a post, and the X2Y2 struggled to maintain the network effects critical of the marketplace.

“Marketplaces are living or dying of network effects,” founder TP wrote in a post. “After three years, it’s clear that it’s time to move on.”

X2Y2 started at the beginning of 2022 and reached $ 5.6 billion in trading in all times, according to data from Tokenterinal.

Smart contracts associated with the platform will remain operational, but users are encouraged to extract assets or transitional activity out of the shutdown date. The price of the market’s original x2y2 token is down 10.7% on the message to trade now with just over $ 0.001. Token has lost 97.7% of its value in the last two years.

The team said it is a new project involving AI-driven, decentralized financial tools.