{"id":39155,"date":"2022-12-24T23:51:08","date_gmt":"2022-12-24T23:51:08","guid":{"rendered":"http:\/\/egrowonline.com\/?p=39155"},"modified":"2022-12-24T23:51:08","modified_gmt":"2022-12-24T23:51:08","slug":"what-it-is-and-how-to-use-it","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=39155","title":{"rendered":"What It Is And How To Use It"},"content":{"rendered":"


\n<\/p>\n

\n

Simply put, X2Y2 is a next-generation NFT marketplace. The core mission behind X2Y2 is challenging the status quo between big time markets like OpenSea<\/a>, while providing a \u201ctruly decentralized\u201d experience. X2Y2 is a decentralized marketplace built to empower NFT creators. This is a decentralized NFT marketplace to buy and sell NFTs.<\/p>\n

X2Y2 also contains features for bulk listing, batch purchasing, receiving real-time notifications and viewing rarities of NFTs. Moreover, X2Y2 has its own Open APIs and SDKs that developers use to build web3 dApps (decentralized apps) like analytics tools and trading bots.<\/p>\n

\"an<\/p>\n

\"an<\/p>\n

What Is X2Y2?<\/span><\/h2>\n

As of the time of writing, X2Y2 is the third-best performing marketplace within the NFT industry.\u00a0 The project\u2019s main goal is to provide fully decentralized, secure, and industry-proven services to its community. Moreover, the platform shares 100% of its profit to token stakers. There are also no private token sales on X2Y2 and it also has a special airdrop offered to all OpenSea users who have traded before.<\/p>\n

When Was X2Y2 Created?<\/span><\/h2>\n

X2Y2 released its whitepaper on January 26, 2022. The NFT marketplace officially launched on January 28, 2022. On the same day, X2Y2 also launched its own Discord channel. X2Y2\u2019s Initial Liquidity Offering (ILO) tokens took place on February 14, 2022.<\/p>\n

Which Blockchain Is X2Y2 On?<\/span><\/h2>\n

The X2Y2 marketplace runs on the Ethereum network. X2Y2 Coin is an ERC-20 coin running on the Ethereum network.<\/p>\n

Who Owns X2Y2?<\/span><\/h2>\n

The CEO\/founder of the X2Y2 marketplace is known anonymously only as \u201cTP\u201d (Twitter: @tp_x2y2). The team behind X2Y2 is comprised of NFT and blockchain development veterans. The platform was built after the team noticed the downsides of centralization in the NFT ecosystem.<\/p>\n

It is also designed to avoid mistakes of many big marketplaces such as OpenSea. X2Y2 also has improved user experiences. Some of them include bulk listing options that allow users to buy and list multiple NFTs in one transaction and rarity integrations (allowing users to browse NFTs via rarity traits). Additionally, the site also sends real-time notifications to members about their items.<\/p>\n

X2Y2 Coin Airdrop: What Happened Exactly?<\/span><\/h2>\n

The X2Y2 Coin is a ERC-20 coin in the Ethereum ecosystem, launched in February 2020. The token is the governance and fee-sharing utility token for the X2Y2 ecosystem. The platform alloted 12% of the total supply (120,000,000 X2Y2) to OpenSea users who traded on the platform before January 1st 2022. The airdrop included all OpenSea users who bought\/sold any amount of NFTs before that span of time.<\/p>\n

Is X2Y2 Popular?<\/span><\/h2>\n

X2Y2 is currently third place in the overall Ethereum (ETH) marketplace ecosystem, according to DappRadar. This means that it leaves behind other marketplaces such as Rarible, SuperRare, LooksRare and more.<\/p>\n

How To Buy An NFT On X2Y2<\/span><\/h2>\n

There are different ways to buy NFTs on X2Y2,<\/p>\n

1) Buying a fixed price NFT<\/strong><\/span><\/h3>\n

To purchase a fixed price NFT, open the \u201cDetails\u201d page, and click \u201cBuy now\u201d. As soon as you click the option, a confirmation box appears. Confirm all the details and then select the \u201cBuy\u201d option to purchase your NFT.
Connect your wallet to the site, if not done already. First-time buyers must accept the terms of service.
Now all you\u2019d need to do is wait for the transaction to process. And voila! just like that, you\u2019ve purchased your NFT.<\/p>\n

\"an<\/p>\n

\"an<\/p>\n

2) Offers<\/strong><\/span><\/h3>\n

X2Y2 enables collectors to make offers to NFTs on their website. This is only in case the creator of the artwork has not yet decided or set the exact value of an NFT. Buyers can suggest their own prices, and the seller has the option to either accept or decline the offer.<\/p>\n

\"an<\/p>\n

\"an<\/p>\n

On any NFT without a definite price, you may navigate to the \u201cDetails\u201d page and click on \u201cMake an Offer\u201d. All offers are made in WETH (Wrapped Ethereum). Rest assured that your money will not be withdrawn from the wallet unless the offer is accepted. Moreover, offers can be canceled anytime before confirmation. Users will need to make an expiration date for each offer along with the price (in WETH). Once confirmed, collectors will be sent the details of confirmation along with next steps.<\/p>\n

3) Collection Offer<\/strong><\/span><\/h3>\n

This is a \u2018batch minting\u2019 option on X2Y2. Instead of making standalone purchases, users can mint NFTs in bulk via this option. Users can also make bulk offers on multiple NFTs (per collection) to batch mint an entire section of the NFT collection they prefer. Please note that the original creator must make collection offers available for participants for this to work.<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n

4) Auction<\/strong><\/span><\/h3>\n

Soon, the x2y2 team will add the option to bid for NFTs in an auction. This feature has not been released on the platform, yet.<\/p>\n

How To Sell NFTs On X2Y2<\/span><\/h2>\n

There are multiple ways to a sell NFTs on X2Y2 as well.<\/p>\n

1) Fixed Price Listing<\/strong><\/span><\/h3>\n

NFTs listed for a fixed price can be canceled anytime before purchase or before listing date is expired. If the NFT is transferred to any other address, the listing is canceled automatically.<\/p>\n

To list NFTs, you may connect your wallet to the X2Y2 marketplace. Then click your avatar in the top right-hand corner, and select \u201cMy Items\u201d. Next, choose the NFT you wish to list for sale and select \u201cFixed price\u201d. In the pop-up window, set a price (in ETH), and expiration date. Next, select the \u201cList\u201d option, approve and sign the request in your wallet, and you\u2019ve basically listed the NFT.<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n

2) Accepting Offers<\/strong><\/span><\/h3>\n

For offers, navigate to the NFT page. Next, click on the \u201cOffers\u201d tab to view all the offers on your NFT. You can then select the offer you would like to accept by clicking on the \u201cAccept\u201d button. You may then approve the transaction and the NFT will be sold.<\/p>\n

3) Private Sale<\/strong><\/span><\/h3>\n

Private sale is mostly the same with fixed price listing. There are two exceptions that separate the private sale from fixed listings. Firstly, it takes 0% market fee and royalty, and secondly, the private sale items can only be purchased by a pre-specified wallet address.<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n

For private sales, you may follow the same instructions as fixed price listings, except on the right hand side, you must add a specific wallet address of the buyer. Ensure that the market fee and royalty are listed at 0%, and you\u2019re ready to sell to the specific wallet.<\/p>\n

What Are The Fees On X2Y2?<\/span><\/h2>\n

Gas Fees:<\/strong> X2Y2 gas fees are directly related to the Ethereum network gas fees.\u00a0 This fee is paid by the buyer on top of their price.<\/p>\n

Platform Fees: <\/strong>For any item sold on X2Y2, a flat 0.5% fee on the amount is levied. All of these fees are charged in WETH and redistributed to X2Y2 stakers.<\/p>\n

Does X2Y2 Have Royalties?<\/span><\/h2>\n

X2Y2 enforces creator royalties<\/a> on all of the collections sold on its platform. The X2Y2 platforms earlier \u201cFlexible Royalties\u201d protocol was pushed back due to opposition from NFT creators. NFT creators must be compensated fairly for their works, and X2Y2 cares about their community enough to ensure the same.<\/p>\n

X2Y2 vs OpenSea: Which Is Better?<\/span><\/h2>\n

Exploration:<\/strong> X2Y2 and OpenSea are similar in design and usability. For instance, both platforms have easy navigation options. The \u201cExplore<\/strong>\u201d tab allows users to browse NFTs, and \u201cRewards<\/strong>\u201d tab displays the X2Y2 coin rewards. But under the hood, the two platforms operate differently.<\/p>\n

Bulk Options:<\/strong> The X2Y2 \u201cBulk Selling<\/strong>\u201d option is also similar to OpenSea\u2019s \u201cBundles\u201d feature. This allows users to sell multiple items at once. Furthermore X2Y2 lures OpenSea users by allowing them to directly import their NFTs from OpenSea.<\/p>\n

Centralization:<\/strong> One of the core missions of X2Y2 is centralization<\/strong>. The addition of more platforms decentralize the buying and selling of NFTs. Currently, around 90% of all NFT sales happen on OpenSea.<\/p>\n

Fee Collection:<\/strong> OpenSea\u2019s 2.5% transaction fees (on buying or selling) goes directly to their developers.\u00a0 X2Y2 on the other hand shares the fee profit through a \u201cRewards\u201d system across its user base. The users earn rewards for staking their X2Y2 tokens.<\/p>\n

Maintenance:<\/strong> OpenSea has frequent maintenance upgrades and is prone to malicious attacks. This halts NFT transactions and lowers speed. The X2Y2 team claims there won\u2019t be downtimes on their platform.<\/p>\n

Moreover, one of the main separating factors between OpenSea and X2Y2 is that OpenSea doesn\u2019t have its own token. Although, OpenSea will likely go public and have an IPO (Initial Public Offering) in the future. This in turn will make them reluctant to launch their own crypto coin.<\/p>\n

The Future Of X2Y2 NFT Marketplace<\/span><\/h2>\n

The X2Y2<\/a> team has plans to enter the metaverse with a 3D\/VR integration down the line. L2 integration for Ethereum (i.e. Arbitrum, Matic), and a DAO (Decentralized Autonomous Organization) are also in the works.\u00a0 These upgrades could trigger a comeback for the X2Y2 token, despite the initial selloff from the large airdrop.<\/p>\n

There is a good reason for X2Y2 to pickup as a key player during the next bull run. It has sustained its position as an OpenSea competitor and hosted largely successful collections on its website. Combine that with its unique reward system and decentralization mission, and this marketplace is a winner in the making!<\/p>\n

\n
\n
\n
\n
\n
\n

Join Our New “To The Moon” daily Newsletter<\/span><\/h4>\n

Get our free, 5 minutes daily newsletter. Join 25,000+ NFT enthusiasts & stay on top 👊🌚<\/p>\n<\/div>\n<\/div>\n

\n
\n

Thank you!<\/span><\/h4>\n

You have successfully joined our subscriber list.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\".\"\".\"<\/p>\n

\n

\u00a0<\/p>\n

\n

All investment\/financial opinions expressed by NFTevening.com are not recommendations.<\/em><\/p>\n

This article is educational material.<\/em><\/p>\n

As always, make your own research prior to making any kind of investment.<\/em><\/p>\n<\/div>\n<\/div>\n


\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Simply put, X2Y2 is a next-generation NFT marketplace. The core mission behind X2Y2 is challenging the status quo between big time markets like OpenSea, while providing a \u201ctruly decentralized\u201d experience. X2Y2 is a decentralized marketplace built to empower NFT creators. This is a decentralized NFT marketplace to buy and sell NFTs. X2Y2 also contains features […]<\/p>\n","protected":false},"author":1,"featured_media":39156,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[39],"tags":[],"class_list":["post-39155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ico"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/12\/x2y2.png","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/39155","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39155"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/39155\/revisions"}],"predecessor-version":[{"id":39157,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/39155\/revisions\/39157"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/39156"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39155"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}