NFT bubble's collapse brings down more trading platforms

World's No. 3 marketplace becomes latest to fall

20250428N NFT Sign REUTERS

NFT trading volume has plunged since 2022. © Reuters

TAKANOBU AIMATSU

TOKYO -- A global plunge in the trading of non-fungible tokens (NFTs) is taking its toll on platforms that host the digital assets, with the world’s third-largest marketplace set to soon shut down.

X2Y2 announced it will shut down services at the end of April. The closure is "not a pause or a maybe, but a full stop on X2Y2 as we knew it," the operator said in a March 31 release.

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