A comprehensive review of X2Y2 NFT Marketplace
Recently, many NFT marketplaces have emerged that offer unique features for digital asset trading. A popular option is the X2Y2 NFT marketplace.
It is an emerging NFT trading platform that strives to create a fully decentralised ecosystem for the trade of digital collectables.
In this article, we will take an in-depth look at the features X2Y2 presents and will explore whether it is a convenient option for buying and selling NFTs.
X2Y2 NFT marketplace: An overview
X2Y2 marketplace is a decentralised NFT trading platform launched in January 2022. It aims to provide an alternative to large centralised platforms like Opensea, Rarible, and others. The platform lives on the Ethereum blockchain and is backed by its native ERC-20 token X2Y2.
Here are some of the pros and cons of using the platform:
- Offers a rarity tracker.
- Enhanced decentralisation.
- NFT loans with zero interest.
- Shares complete revenue with stakers.
- Provides trade notifications in real-time.
- Convenient to purchase NFTs in bulk.
- Only supports Ethereum-based NFTs.
What features does this marketplace offer?
Here are some of the notable features that the NFT marketplace offers:
X2Y2 is a fully decentralised platform, which makes it ideal for buying and selling digital collectables. Also, you can easily create and launch your own digital art collections on the platform. You can find all the famous NFT projects on this marketplace and trade them using its advanced analytical features.
Moreover, it allows you to purchase and list NFTs in bulk. This feature can significantly reduce the gas fee as you can list or buy them in one go.
The platform claims to have an enhanced decentralised system. It works on the Ethereum blockchain and is supported by the ERC-20 X2Y2 coin. The token provides a mechanism for managing the marketplace's DAO (decentralised automated organisation).
Through the tokens, the entire revenue generated on the platform is shared among the stakers. This not only helps secure the network but also offers incentives to the users.
The token also differentiates X2Y2 from other marketplaces. The reason is that anyone can acquire the token through public sale. Still, private investors have more authority over large marketplaces. As a result, users enjoy increased decentralisation on this trading platform.
Users can get numerous types of rewards on this marketplace. They mainly include token airdrops and incentives for staking. However, if you have acquired the tokens through an Initial Liquidity Offer (ILO), you will get annual rewards from the market fee.
The NFT trading platform also has an X2Y2 staking program through which you can generate substantial profits. There are 1,000,000,000 tokens, from which 65% (650,000,000) are allocated for staking rewards. So, when you lock your tokens for a certain period on the platform, you can earn rewards.
Here’s the breakdown of staking rewards emissions:
You can earn the market fee rewards for staking in wETH, which is transferred straight to your wallet.
The marketplace also allows for the lending and borrowing of Ethereum. It facilitates ETH's peer-to-peer (P2P) lending by enabling users to use their non-fungible tokens as collateral. The X2Y2 loan mechanism ensures that the loan security is locked until the borrower pays the loan.
Suppose the borrower fails to pay off the loan. In that case, the lender can claim the ownership of collateral NFTs and the agreed interest. This feature provides another way for users to generate a yield on their crypto.
One of the reasons why it is an affordable option is its royalty fee policy. Royalties are the charges you must pay when buying an NFT, which goes to the creator. The fee tends to fluctuate depending on various factors and can affect the total price of a digital asset. Some of the platforms may charge royalties of around 10%. But X2Y2 is different.
This marketplace allows the users to set an amount they can easily pay to the creators. It can minimise the total price of an NFT, eventually making the platform more affordable.
X2Y2 trading fees
Among Ethereum-based NFT marketplaces, X2Y2 is one of the cheapest. Its trading fee is minimal compared to other prominent names such as Opensea, SuperRare, Raribilty, and others. It only charges 0.5% on the buying and selling of NFTs. Meanwhile, the royalty charges are also adjustable, which allows you to maximise your profits.
The X2Y2 NFT marketplace is an innovative platform offering a diverse range of NFTs. Its user-friendly interface, curated collections, and transparent processes create an appealing space for artists and collectors alike.
It also offers various rewards and minimal transaction fees, making it an affordable option for NFT trading.
Author: Wasay Ali
Wasay Ali is a versatile professional writer with global experience and a background in mechanical engineering and social science. He is adept at crafting news and informational content for the crypto space and has experience writing for other niches. He is a professional SEO content writer who has worked with several digital marketing agencies and clients in the US, UK, Pakistan, and Europe. He is a dedicated volunteer and enjoys reading, writing, poetry, and going to the gym. He is an INFJ-A personality type dedicated to positively impacting the world. Wasay has a passion for writing as it allows him to express his creativity, share his knowledge, and connect with people worldwide.