X2Y2 NFT Marketplace Review
X2Y2 is active since January 2022. It seems to be from the US considering that their terms and conditions refers to US provisions.
It is a decentralized marketplace built by an experienced team of blockchain professionals. Some of the key features of this marketplace are:
- Bulk listing of multiple NFTs with a single transaction.
- Batch purchasing NFTs in bulk at once.
- Real-time notifications like send activity notifications or mails of your items.
- Browse NFT traits rarities without installing extensions.
What is an NFT Marketplace?
An NFT Marketplace is a marketplace for NFT. So far so good. But what is an NFT?
NFT is an acronym for “Non-Fungible Tokens”. Something which is fungible is replaceable. For instance, one kilo of 24 karat gold is – at least in theory – replaceable with any other kilo of 24 karat gold. When something is non-fungible, it means that it is unique, and not replaceable with any other item out there.
Although NFTs are conceptually similar to cryptocurrencies, these digital assets might represent antiques & artworks, collectables like trading cards, and other items with unique features. These tokens are stored cryptographically in a blockchain network for authentication and validation. Even when transacting, each token is sold as a whole, unlike cryptocurrencies which are divisible into smaller units. NFTs lose their value when split into smaller portions, however, they can be duplicated by the artist and each additional copy can be sold separately (but the total number of duplicates will then always be known).
There is no central theme as such in this NFT marketplace, (unlike other marketplaces like Axie Infinity or Crypto Heroes). Looking at the layout and the listed NFTs, it seems like this marketplace is focused on competing with OpenSea.
Typically, when you make a trade at any NFT marketplace, they charge you a commission. The commission is normally a percentage of the sale amount in the relevant trade.
We couldn’t find any information on the fee rate charged by X2Y2. The website claims to refund all the fee collected to the community. It charges no deposit or withdrawal fee. However, users will have to incur a gas fee on the Ethereum network. Gas fee will be charged for buying an NFT, Transferring NFT to another address, accepting an offer or cancelling a listing.
Layout of X2Y2
Different NFT Marketplaces present their NFTs, the latest bid and the remaining time of an auction etc. in different ways. What you are most comfortable with viewing and using is up to you and no one else. The following picture is a print screen from X2Y2:
X2Y2 Payment Methods
A few of the NFT Marketplaces out there accept deposits and payments via credit or debit card, and some even accept PayPal-deposits.
We could not find any information that suggests X2Y2 accepts credit/debit cards or PayPal.