X2y2 is a modern NFT market, aimed at challenging the centralization in NFT ecosystem. It is a decentralized platform that makes NFT creators strong, so that they can trade their arts in an independent manner. The main objective of X2y2 was to break the domination of large marketplaces such as Opensea and provide users a demecritic, decentralized and transparent experience. Also, X2y2 showed an impressive growth in a few months after X2y2 launched in 2022 and became the second largest NFT marketplace after Opensea.
How does the X2y2 platform work, what is the use of its tokens?
Users get several unique features on the X2Y2 platform, which make it different from other marketplace. The X2Y2 platform is based on the principle of dyscentrization, where smart contracts are used to make the process of selling and prescription automatic. It offers decentralized platform users a chance to sell and preserve NFTs directly, just the condition that they are connected to believe pockets such as web3 pockets. In addition, X2y2 also developed a custom renewing ranking system, giving users in real time about the uniqueness of NFTs.
The X2y2 also has its own X2y2 Token, which is used for the governance of the platform. This is also useful for token staking, which gives users a share in the profit of the platform. The NFT community was taken by the X2y2 platform a significant step towards the decentralization and also has open APIS and SDKS, which developers can use to create developers Web3 DAPS (Decontrolled Applications).
X2y2 growth and challenge
X2y2 increased rapidly since its start in the field of NFT market. After launching in 2022, the platform has emerged as a strong competition in front of the major platforms like Opensea and BLUR. In May 2022, the monthly trading volume of X2y2 was $ 209 million, which reflects the success of this platform.
But recently there has been a big news related to it, in which X2Y2 founder TP said that marketplace network runs on the basis of effects and now the time has come for them to move forward. This has been a journey challenging for X2y2, as the marketplace must have a large users network and high trading volume to succeed. After three years of operation, NFT Market X2y2 will be Close UnwellFor which April 30 has been announced.
However, smart contracts of the platform will remain on. It is being told that this will not cause damage to the decentralized system of X2y2, but the user-XPperies of the platform will be eliminated.
How is X2y2 Community Focused Project
X2Y2 is a community focused platform, which gives many facilities to its users, which is as follows –
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Royalty Support: The creators on the X2y2 platform get royalty on their NFTs trading, which makes them profit with their hard work.
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Low fees: The fee structure of the X2y2 is much less than the other NFT Market, which facilitates trading on low costs to users.
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Incentive Scheme: In this, users are given rewards as X2y2 token and WEth (Wrapped Etreum), which gives them encouragement to stay active on platforms.
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Special Product Features:
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Bulk Listing and Batch prescription: List and purchase facility to several NFTs simultaneously.
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Real-time notifications: Users get immediate information.
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Rarcie Integration: Integration of the NFTS to analyze the specificity and price.
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Different from looksrare: X2y2 has inspired itself to distinguish itself with these characteristics by being inspired by looksrare.
Conclusion
X2y2 has launched a new chapter in the world of NFT Marketplace, which provides a better experience to users with its decentralized and community-focused approach. Its royalty support, low fee structure and attractive incentive schemes make it different from other marketplace. Special features of X2y2 such as bulk listing, batch prescription, real-time notifications and Writing Integration have made it popular among users.
However, due to the Challenge of Marketplace’s network effects and large user base, the trading platform of X2y2 will be closed on 30 April 2025. Similarly recently another news was revealed in which it was told that, Bybit will shut down your NFT market,
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