X2Y2 is a NFT marketplace but it has its own importance because it has its own developer tools for creators to easily manage and mint their NFTs. It has a rare ranking system that helps the user to access the uniqueness of different NFTs. it gives instant royalty payments to creators. Also, it gives NFT loan services for users to leverage their assets.
X2Y2 Marketplace with Various Benefits
X2Y2 gives real-time notifications and provides bulk testing options. The rarity ranking and developer tools are some of the features that make the X2Y2 marketplace stand out from other NFT platforms.
The rarity ranking system helps in looking at how rare the NFT is as compared to other NFTs. One can check the rarity rank by simply clicking on the NFT. Also, the rarity sniper logo and the number below the name of the NFT show that it is rare. Further clicking on the logo shows more details like its traits, score, and price on the rarity snipers website.
The developer tools are designed to help creators easily manage and mint their NFTs on X2Y2. One can access the developer tool by clicking on the profile icon and by selecting the developer tool from the menu.
One can then create a new collection, upload NFTs, set royalties, and list NFTs for sale. It has options to edit and delete collections and NFTs from the developer tool. It has low trading fees as compared to other marketplaces. It gives 100% revenue share for stakes. One more benefit that it provides is instant push trade notifications.
It is very advantageous for those who are looking for zero-interest NFT loans, bulk buying, real-time trade notifications, and increased transparency. It supports only those NFTs that are built on the Ethereum mainnet. This is the reason it is a sub-competitor to OpenSea and LooksRare.
Analytics of X2Y2 Marketplace
As per Dune analytics, X2Y2 holds the number of trades made by X2Y2 is 2.5 which makes it hold the second place in comparison to other marketplaces like OpenSea and LooksRare on July 10, 2023. The average sales size chart shows that maximum sales are made by X2Y2 in comparison to other marketplaces like Blur and OpenSea which is 13.344 on July 12, 2023.
How is X2Y2 Different from Other NFT Marketplace?
It is different from other NFT platforms like OpenSea and LooksRare because it has its own native token, X2Y2. This token is used mainly in governance and staking. The platform has an exciting feature of royalties which becomes applicable once the content is bought. The royalty fees will be received every time the content finds a buyer.
This platform allows the creators or sellers to decide how much of the royalty fees they want to contribute to the platform whereas other platforms like OpenSea charges 10% royalty on each transaction.
X2Y2 marketplace is the first platform that made compulsion of royalty fees while buying any content. Firstly, this was the point of discussion for creators as this may increase the chance of less selling due to additional royalty charges paid by the buyer. But, this action comes out to be beneficial to users as this leads to cheaper transactions. As a result, X2Y2 has become the first choice for creators and the platform allows more growth for the platform.
Summary
X2Y2 has aim to increase the convenience and functionality of the NFT marketplace. As it is a decentralized trading platform, it uses smart contracts for safer and more secure NFT trading and transactions. It came out as an advantageous platform not only providing the airdrops but also a portion of the market fee to the token holders annually.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/08/12/x2y2-marketplace-how-to-create-manage-and-lend-nfts-easily/