The NFT Marketplace has seen a major decline in March 2025 following the closure of the X2y2 NFT market. When this announcement came out, X2y2 NFT Market will be shutdownSo this decision had a profound impact on NFT Marketplace and the entire market fell by 12%.
At the same time, NFTS selling on Ethereum Community also led to a big decline of 59%, which made it clear that the activity of buyers has declined a major decline. A major reason for this was the closure of its NFT services by major platforms such as KRAKEN NFT Market and the Announcements made by X2y2 and Bybit to close their NFT market. However, the reason behind this decision taken by these major platforms was the decrease in trading volume and decreasing demand.
X2y2 NFT market shutdown, big shock for NFT Marketplace
The declaration of the closure of the X2y2 NFT market is a major setback for the NFT Marketplace. This platform, which handled a $ 5.6 billion trading volume in 2021, is now going to shut down after a decline of more than 90%. X2y2 said in its announcement that the NFT chapter has taught us a lot and now we are deciding to close it completely. This situation indicates how much network effects are important in NFT Marketplace.
At the same time, like X2y2, KRAKEN has also closed its NFT operations in February 2025 and bybit Change has also announced that, NFT will shutdown by MARKETIt is clear from the closure of these platforms that this market has now become very unstable for NFT traders due to global economic pressure and declining demand.
Ethereum NFTs also declined big
In March 2025, there has also been a steep decline in the Sailing of NFTs on the Etreum Community. Ethereum NFTs declined by 59.3%, indicating that Ethereum based NFTs have been most affected. Especially large collections such as Bored APE Yacht Membership and Pudgy Penguins have seen a loss of more than 50%. Only some collections such as cryptopunks have been able to show a little growth.
Panini new NFT projects appear during the fall
Despite the decline in NFT Marketplace, some new platforms and brands have shown activeness in the field. For example, Panini has registered a 259.2% increase in its digital collection, which gives it a place in the top 10 NFT Blockchain. Panini’s digital collection is connected to its physical collection and aims to certify the assets’ ownership by blockchain.
In addition, Azuki has launched a physical-back NFT in collaboration with Artist Michael Law. These new aspects can create a new hop for NFT’s future, but low demand and lack of investors have also raised questions on the future of NFTs.
Conclusion
The NFT Marketplace 2025 is facing a decline and the closure of several major platforms has seen a major impact on it. At the same time, the decline in sales on Ethereum Community and the decrease in the price of NFT related tokens reflect the unstability of the region. Although some new brands and platforms have made a new beginning in the region, but now it will be seen what is the future of NFT Marketplace and what changes can happen in this.
