Make sure to join the new X2Fi discord server at https://t.co/kFOegFMgVG for future communications and support before April 30th.
Give the new X2Fi account a follow as well! 🙏
X2Y2
Decentralized Ethereum NFT marketplace with $5.6B in historical volume, sunset in April 2025
2.9/ 5
Our score
Weak
Chains
Ethereum
Marketplace fee
0.5%
Creator royalties
Enforced
Token
X2Y2
What is X2Y2?
X2Y2 was a decentralized Ethereum-based NFT marketplace that launched in February 2022 to compete directly with platforms like OpenSea and LooksRare. At its operational peak, the platform served as one of the largest NFT trading venues by volume, processing over $5.6 billion in all-time trading volume across its lifecycle. On April 30, 2025, the team permanently sunsetted the marketplace front end, citing a sustained 90% decline in NFT sector trading volumes and shifts in network effects, though its smart contracts remain permanently deployed on Ethereum.
Team and background
X2Y2 was founded by a pseudonymous developer known as TP, who led the development team through the beta release in February 2022. The project was built as a community-focused platform aimed at sharing protocol revenues with users through its native token, X2Y2. Later in its lifecycle, the team formed strategic partnerships with gaming and Web3 firms, including MARBLEX in February 2024 to support the Klaytn network through X2Y2 Pro, and Animoca Brands Japan in August 2024.
Marketplace mechanics and fees
The platform operated non-custodially via Ethereum smart contracts. Users connected non-custodial Web3 wallets to trade directly peer-to-peer without depositing assets into centralized custody. The marketplace introduced features such as bulk listing, collection-wide bidding, and integrated rarity rankings. Historically, X2Y2 charged a standard marketplace fee of 0.5% on trades, undercutting major competitors that charged 2.5%. During its operation, 100% of marketplace fee profits were routed to users who staked the native X2Y2 token.
Royalty policy and track record
During the NFT marketplace competition of 2022, X2Y2 experimented with creator royalty structures. In August 2022, it introduced flexible royalties, giving buyers the choice of whether to pay creator fees. Following creator pushback and market-wide changes, X2Y2 reversed this stance in November 2022, adopting OpenSea's Operator Filter Registry to enforce creator royalties across listed collections. The marketplace officially concluded operations on April 30, 2025, redirecting ongoing community efforts toward permissionless DeFi initiatives under the X2Fi umbrella.
Risks and current status
The primary consideration for users is that the web marketplace is permanently closed. There is no active web interface, customer support, or official listing maintenance. Interacting with historical listings or escrowed smart contracts requires direct blockchain calls, which carries technical execution risks. Stakers and token holders also face liquidity risks, as utility for the X2Y2 token was tied to marketplace volume that ceased with the shutdown.
Founders
TPFounder
Best for:Direct Ethereum contract interactionLegacy contract cancellationHistorical NFT volume research
Pros and cons
Pros
- Processed over $5.6B in total trading volume across three years
- Underlying Ethereum smart contracts remain functional and accessible on-chain
- Historically shared 100% of platform trading fees with token stakers
- Competitive 0.5% marketplace trading fee during active operation
- Non-custodial peer-to-peer architecture requiring no identity verification
Cons
- Marketplace website and user interface permanently shut down on April 30, 2025
- Direct smart contract interactions required to manage or cancel legacy listings
- Limited natively to Ethereum without broader multi-chain support prior to closure
- Token utility and protocol fee yields ceased following marketplace shutdown
Our review
2.9/5
Weak
X2Y2 delivered low trading fees and profit sharing during the NFT boom, but its web marketplace ceased operations on April 30, 2025.
Launched in February 2022 by founder TP, X2Y2 emerged as a direct competitor to OpenSea and LooksRare on Ethereum. The platform accumulated over $5.6B in all-time trading volume across its lifecycle. However, the marketplace officially shut down on April 30, 2025, after industry trading activity dropped roughly 90% from its 2021 peak. The team shifted development toward an AI-driven decentralized yield project called X2Fi, leaving the underlying smart contracts active on Ethereum for direct contract interactions.
During its operation, X2Y2 competed on aggressive pricing and community incentives. Its marketplace fee sat at 0.5%, significantly undercut by design compared to OpenSea's standard 2.5% rate. The marketplace distributed 100% of collected platform fees back to holders who staked the native X2Y2 token. Trading tools included bulk listings, trait and collection bidding, integrated rarity tracking, and instant transaction notifications.
The platform faced repeated policy shifts around creator royalties. In August 2022, X2Y2 introduced flexible creator royalties that let buyers opt out of paying secondary fees, which sparked significant creator pushback. By November 2022, it reversed course, integrating OpenSea's Operator Filter Registry to enforce creator fees across collections. Cross-chain options also remained narrow, as the main marketplace concentrated exclusively on Ethereum collectibles and profile picture projects, only experimenting late with Klaytn through its X2Y2 Pro division.
Because the web frontend is permanently closed, X2Y2 no longer suits casual collectors or creators seeking a turn-key minting platform. It remains accessible only to developers and experienced users calling the immutable contracts directly on Ethereum.
Sources (1)
Specs
| KYC required ⓘ | No · unverified |
|---|---|
| Chains | Ethereum · unverified |
| Marketplace fee | 0.5% · unverified |
| Creator royalties | Enforced · unverified |
| Focus | Art, Collectibles · unverified |
| Mobile app | No · unverified |
| Token | X2Y2 · unverified |
| Zero marketplace fee | No · unverified |
| Points or rewards program | Yes · unverified |
Not disclosed by the provider: Launchpad, Aggregates other markets.
Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.
Key features
Non-custodial trading contracts
Executes peer-to-peer ERC-721 and ERC-1155 trades directly between Web3 wallets using autonomous Ethereum smart contracts.
Bulk listings and purchases
Allowed users to list or buy multiple NFTs in a single transaction to reduce total Ethereum gas expenditures.
Historical 0.5% trading fee
Charged a 0.5% platform transaction fee, which was significantly lower than traditional 2.5% marketplace fees.
Staking revenue distribution
Distributed 100% of net protocol trading fee profits to users who staked native X2Y2 tokens.
Collection and trait bidding
Supported automated offers across entire NFT collections or specific asset traits rather than individual token IDs.
On-chain royalty enforcement
Integrated OpenSea's Operator Filter Registry in November 2022 to enforce creator-mandated royalty fees on secondary sales.
Inside X2Y2
X2Y2 Marketplace
The core trading interface on Ethereum for buying, selling, and bulk-listing non-fungible tokens with collection-wide bidding and rarity metrics, decommissioned on April 30, 2025.
X2Y2 Token
The native ERC-20 platform token that incentivized marketplace volume and distributed 100% of platform trading fees to participants staking it.
X2Y2 Pro
An advanced trading arm designed for high-volume transactions and partnerships, including support for the Klaytn network.
What users say about X2Y2
Authors frequently share links to Paragraph to publish crypto research, technical postmortems, protocol updates, and community newsletters across various networks.
Based on 200 Reddit posts and comments from the last 12 months, checked Oct 21, 2026. These are posts by users on other sites, not reviews submitted on CryptoReview.
User reviews
No user reviews yet. Have you used X2Y2? Share your experience below.
FAQ
Who founded X2Y2?
X2Y2 was founded by a developer known pseudonymously as TP, who launched the beta marketplace on February 6, 2022.
Is X2Y2 still operating?
No, the X2Y2 web marketplace shut down on April 30, 2025. Its underlying smart contracts remain active on Ethereum for direct interactions.
What fees did X2Y2 charge?
X2Y2 charged a 0.5% marketplace fee on NFT sales during its standard operation. All platform fee revenue was distributed to users staking the X2Y2 token.
Does X2Y2 have a native token?
Yes, X2Y2 has an ERC-20 token under the ticker X2Y2 with a 1 billion maximum supply. It was used to reward trading activity and distribute platform fee revenues to stakers.
Which blockchains did X2Y2 support?
X2Y2 operated primarily on the Ethereum blockchain for buying and selling non-fungible tokens. It later partnered to support the Klaytn network through X2Y2 Pro.
How did X2Y2 handle creator royalties?
X2Y2 initially introduced flexible royalties in August 2022 that allowed buyers to skip creator fees. In November 2022, it reversed this stance and enforced creator royalties via OpenSea's Operator Filter Registry.
Latest from X2Y2 on X
After 3 incredible years and $5.6B in trading volume, X2Y2 will be sunsetting as an NFT marketplace on April 30, 2025. Read @tp_x2y2's full announcement below for details. 👇
GM Legends ☕️
Here's to making it through yet another week of pretending to know what the hell it is we are actually doing. Happy Friday! ☀️ https://t.co/cdfmStCUG4
Here's to making it through yet another week of pretending to know what the hell it is we are actually doing. Happy Friday! ☀️ https://t.co/cdfmStCUG4
GM Legends ☕️
Comfy in spot. https://t.co/FY7C8NNnAT
Comfy in spot. https://t.co/FY7C8NNnAT
GM Legends 💀 https://t.co/9IUzcuc4Bb
Recent public posts from @the_x2y2, shown as published. Not reviewed or endorsed by CryptoReview.
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