X2Y2 emerges as a decentralized marketplace for non-fungible tokens (NFTs) that provides a diverse array of features to facilitate NFT trading, including bulk listing and batch buying options. The platform has rapidly climbed the ranks to secure a spot among the top five NFT marketplaces based on impressive sales volume, a significant number of unique users, and a high count of successful transactions.
Beyond its stature as a prominent NFT marketplace, X2Y2 also operates as an NFT Fi (NFT finance) platform, empowering users to leverage their NFT holdings as collateral to borrow Ethereum (ETH) from lenders. In a recent blog post on the official X2Y2 website, the platform hints at expanding its financial services and unveils forthcoming products in the pipeline.
What is the X2Y2 token?
The X2Y2 marketplace made its debut on January 28, 2022, and swiftly introduced a staking rewards program aimed at distributing 100% of the platform fees among eligible X2Y2 token stakers. The magnitude of rewards received corresponds to the quantity of tokens staked and locked by individuals.
NFT loans for Opepen Edition are now live! 💥
Borrow & Lend ETH securely using your NFTs as collateral with X2Y2fi! 🤝 https://t.co/Acnski1r4z pic.twitter.com/qwXtF6dHWN
— X2Y2 (@the_x2y2) June 9, 2023
The total supply of X2Y2 tokens stands at 1,000,000,000, with 65% of the supply specifically designated for the staking rewards program. Out of this allocation, 200,070,000 tokens are reserved for X2Y2 stakers, while 449,930,000 tokens are allocated as trading rewards for NFT buyers and sellers engaged in transactions on the platform.
The X2Y2 reward program consists of four stages and spans a total duration of 720 days, offering increasingly higher staking rewards in the early stages. Currently, the program is in its fourth and final stage, so if you have an interest in staking X2Y2 tokens to earn rewards, this represents your last opportunity to participate.
How to purchase and sell NFTs on the X2Y2 marketplace
Users of the X2Y2 marketplace have the option to buy and sell NFTs at fixed prices, as well as make and accept offers on individual NFTs. Although bidding in auctions is not currently supported, the platform offers other distinctive features that can be advantageous to users.
One such feature is the “Make Collection Offer,” which enables users to place a single bid encompassing all the assets within a specific collection. If a seller accepts the collection offer, any other offers made on individual assets are automatically canceled. Furthermore, users have the ability to set an expiration date for their collection offer, adding an element of flexibility to the process.
Another noteworthy capability is the private sale feature, allowing users to exclusively sell an NFT to a pre-specified wallet address. Listing a private sale is similar to listing a fixed-price NFT, but users must specify the wallet address to which they intend to sell the asset. Private trades conducted on X2Y2 are exempt from market fees and creator royalties.
To identify private sales, the X2Y2 marketplace indicates them with a locked icon. Conveniently, you can readily locate any private listings specifically associated with your wallet by accessing your personalized dashboard.
