X2Y2 NFT Marketplace

What's up Product Hunt 👋

Lennart, Chief Marketing Officer at Polychain Monsters here. While on the lookout for potential partnerships in the Web3 space, I stumbled upon X2Y2, the marketplace we have all been looking for.

Why?

I'll quickly summarize the current status quo for NFT marketplaces, referencing X2Y2's pinned Twitter thread ("The NFT Dilemma"), and how they want to fix it 👇

In the NFT community, current market leader OpenSea has a monopoly on over 90% of all NFT transactions. That's a huge burden for a single actor, right? Lately, this has shown to be a huge issue for us, the NFT community:

🆘 Downtimes 🚨 Centralization & Censorship 🤑 Corporate Greed

With OpenDAO & LooksRareNFT, two promising challengers emerged. With a fully working marketplace, $LOOKS made the groundwork for challenging OpenSea's monopoly, attracting people through trade mining, to at least try out their product. Leaving aside LooksRareNFT's initial success, there are some severe problems deep at its root:

🐳 Focusing on whales but not people 🤑 Lack of transparency 💦 Wash trading

Marketed as "By NFT people, for NFT people", LooksRareNFT had chosen 20% of OpenSea's nearly 900,000 trading users with more than 3 $ETH transactions as the target of its Airdrop. Essentially, this excluded the majority (80%) of the NFT market 🤯

3.3% of $LOOKS tokens were allocated to so-called strategic investors at a non-public price. Essentially this is no different than the backroom deal OpenSea did with Silicon Valley and Wall Street investors. How can this be community-first?! This can't be what a decentralized NFT Marketplace $LOOKS like! 👀

The team behind X2Y2 wants to fix this by 👇

🤝 Inclusive Airdrop They took a snapshot at Ethereum block #13916166. All OpenSea users that had traded before that will be included. There's no expiration date for the airdrop!

🙌 No Private Sale There will be an Initial Liquidity Offering for $X2Y2. $ETH obtained from the sale will be put into Uniswap to provide initial liquidity. All LP tokens received by adding the liquidity will be burned to lock the liquidity permanently.

🚫 No Wash Trading, only Staking Rewards $X2Y2 stakers will receive the daily $X2Y2 reward and all the previous day's handling fees through the trading fee rate which will be set to 2%.

💡 Shipping fast (from their Discord – Beta & MVP Launch Roadmap) - Instant push notifications for buys & sells - Combined $WETH & $ETH trades - Bulk sending, listing & buying - Collection & trait offers - 0 fees on private sells - Integrated Rarity tools - Best-in-class UX

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Why am I hunting X2Y2? There are two reasons:

1) This team delivers! I've tried out the Beta and am impressed by the UX! It feels so much better than OpenSea. I gave feedback in their Discord, which was implemented just a few hours later! Since then, they've shipped improvements daily.

2) I jumped on a quick call with them to see if I can help with a potential partnership. From what I've learned, they're completely unknown in the European & US market, but getting quite some traction within Asia. However, NFTs are not so popular in Asia right now. So I'm afraid this project won't make it because they lack the marketing power western NFT Influencers can deliver. Seems like their tokenomics are too fair & transparent (= not helping NFT influencers to earn a ton of money through a private sale).

The least I could do is copy together some of their Tweets & Discord messages and spread the word with the Product Hunt community! 🐱

I invite you to try out the Beta. Right now, trading fees & royalties are set to 0%

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Beta: https://beta.x2y2.io Discord: https://discord.gg/x2y2 Blog (Litepaper, Tokenomics): https://mirror.xyz/x2y2.eth