X2y2 NFT marketplace - All Information You Need To Know - Market247.io
In 2022, NFTs witness a strong boom and NFTs marketplace projects are born to meet that explosive demand from the community. In addition to OpenSea or LookRare which are the big players in NFTs in the market, recently a formidable competitor has appeared - the X2Y2 NFT marketplace project. In this article, Market247.io will help you find out information about the X2Y2 NFT marketplace.
What is the X2y2 NFT marketplace?
X2Y2 is a new NFT marketplace that debuted in February 2022. X2Y2 NFT Marketplace is only compatible with Ethereum Mainnet NFTs (ETH). While the site design is similar to OpenSea and other NFT platforms, the platform's features and backend were built from the ground up. The X2Y2 marketplace has collections similar to OpenSea, with the most popular being "Boomgala", "Boomgala", "Azuki", "Crypto Chicks" and others. Users can view the most traded collections of the week with daily statistics in "Hot Collections."
Highlighted Features of X2y2 NFT marketplace
The NFT marketplace on X2Y2 introduced new features to the forefront of NFT trading. These are highlighted features of X2Y2:
X2Y2 is the first NFTplatform that shares profit with users. Users who stake their X2Y2 tokens on the platform will receive a proportionate share of the fees for all NFT trades.
- Bulk listings
Users can list all of their NFTs at once or select NFTs to list in a single transaction. This saves money on gas because it eliminates the need to pay for individual NFT listings.
- Bulk purchasing
Traders can buy multiple NFTs in a single transaction for a single gas fee. For frequent traders, this also saves money on gas.
- Push notifications
X2Y2's system automatically emails users when one of their NFTs is bid on or purchased. It also alerts traders when their bid is accepted.
- Statistics on rarity
X2Y2 developed a brand new rarity tracker that can track the rarity of items. Additionally, it can show the most recent price on OpenSea. Each NFT and its history is accompanied by detailed analytics.
- Secret items
X2Y2 will be the first NFT platform to feature secret NFTs, and privacy will be one of their main selling points in the future.
What makes X2y2 special?
According to their whitepaper, X2Y2 intends to address the following OpenSea drawbacks:
Because OpenSea sells more than 90% of all NFTs, additional platforms will help decentralize the ecosystem.
- Fees are collected privately.
Every transaction on the platform, whether buying or selling, is subject to a 2.5% fee. The fees are kept by the OpenSea developers. X2Y2 distributes the fee profit to all users who stake their tokens on the platform via a "Rewards" system.
OpenSea undergoes frequent maintenance upgrades, which can cause NFT transactions to halt or NFTs to vanish from users' wallets. According to X2Y2, there will be no downtime on their platform.
- Private property ownership.
OpenSea is working with Silicon Valley investors, and X2Y2 claims they will not accept private investment and will distribute their tokens fairly. Users with lower trade volume will also be eligible for the airdrop.
How to use X2Y2
The X2Y2 NFT marketplace aims to solve problems associated with buying and selling non-fungible tokens by implementing several critical features based on cutting-edge technology.
Bulk NFT sales and purchases, instant real-time notifications for both buys and sells, and much more are among these features. The platform has its own rarity ranking, which provides users with the most up-to-date information on the uniqueness of a specific NFT in the marketplace.
Furthermore, the X2Y2 NFT platform has a user-friendly layout, making this marketplace even more accessible to various types of community members.
How to sell an NFT on X2Y2
There are various methods for selling non-fungible tokens on X2Y2, just as there are for buying them. Here's a list of them.
Listing of fixed prices
If you want to post an NFT for the listing, keep in mind that listed NFTs can be cancelled at any time prior to purchase or when the listing expires. If the NFT is transferred to another address, the listing is automatically cancelled.
- Connect your wallet to the X2Y2 market.
- Select My Items by clicking your avatar in the upper right-hand corner.
- Navigate to the NFT you want to sell and select "Fixed price."
- Set a price, expiration date, and currency in the pop-up window (currently, you can only use ETH).
- Once finished, click the List button.
- Accept and sign the request.
- The transaction is completed.
Accepting a proposal
Offers are accepted in the "Offers" tab, which displays your NFTs as well as buyer offers. Each time a new offer is received, the seller is immediately notified. You will be asked to review and approve the offer before proceeding with the transaction.
X2y2 Token and Tokenomics
The X2Y2 token is the platform's native token that is used to keep the platform running. X2Y2 is an ERC-20 coin that operates on the Ethereum network. It debuted in February 2022 and made a splash in the cryptocurrency community with its airdrop. The token serves as the X2Y2 ecosystem's governance and fee-sharing utility token.
The X2Y2 token distribution
The following is the X2Y2 token distribution:
- Staking Rewards (65%): Staking rewards receive the highest percentage point allocation in the fee-sharing program. Users will be able to recoup a portion of the fees generated by their X2Y2 investment.
- Airdrop (12%): Prior to January 1st, OpenSea users who made trades will be able to claim 12% of the supply at launch.
- Team (10%): A 10% stake will be used to cover development and team salaries.
- Treasury (10%): The X2Y2 treasury will keep 10% of the proceeds.
- Pre-Sale (1.5%): The pre-sale was a success, collecting 1,500 ETH.
- Liquidity Management (1.5%): The initial LP token will have 1.5% of the supply available for trading.
X2y2 Token Release Schedule
The tokens would be released gradually over the course of 720 days.
There are 1,000,000,000 (1B) X2Y2 tokens in circulation, with only 130,000,000 (13%) currently in circulation. That means that with a $43 million market cap, the fully diluted market cap is $340 million.
X2y2 NFT marketplace Team
The X2Y2 team is made up of NFT and blockchain development veterans who saw the drawbacks of centralization in the NFT ecosystem. Specifically, OpenSea handles 90% of all NFT transactions, and whenever there is a problem or censorship, the entire NFT ecosystem suffers. "NFTs are not only on OpenSea," they said.
Which Wallets are compatible with the X2y2 NFT marketplace?
Whatever form you choose, make certain that your wallet is compatible with X2Y2. These brands are compatible with the X2y2 currently:
The X2y2 NFT marketplace is a daring platform that aims to challenge OpenSea's market dominance by sharing profits with users and developing a one-of-a-kind rewards system. X2Y2 is not the only attempt to compete with Opensea; both OpenDAO and LooksRare had their chances to challenge Opensea's monopoly, but these markets did not perform as well as expected. To meet user demand, it is hoped that X2Y2 will update and develop many new features.
FQAs - X2y2 NFT marketplace
Where to buy X2Y2 tokens?
The X2Y2 cryptocurrency is available on several exchanges which include bitget, MEXC, XT.COM, CoinW
What are gas fees on the X2y2 NFT marketplace?
Ethereum fees are directly related to X2Y2 gas fees. X2Y2 does not charge any fees and does not provide refunds.
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