Understanding Xircus — What Makes It One Of The Most Disruptive Platforms In The NFT World
Skipping technical jargon, cutting through the noise, bulldozing the hype and the buzzwords – in this article, we decode the unique set of utilities that Xircus brings to the world of DeFi and NFTs.
What is Xircus?
Xircus is the world’s first multi-chain gamified DAO platform that allows users to create and deploy custom NFT marketplaces.
What Does That Even Mean?
We also don’t want the essence of Xircus’ utility lost behind loaded technical terms and blockchain lingo. Let’s decode it.
First of all, Xircus is a DIY (Do It Yourself) platform where users can deploy custom NFT marketplaces. Anyone who wants to create and sell their NFT token can go to the Xircus platform, and in just six easy steps create and launch their own NFT marketplace without having to write a single code.
It’s a multi-chain platform because DAPPs and NFT creators can deploy smart contracts to any EVM compatible blockchain. Our contracts are written in Solidity, Rust and WebAssembly for next-generation blockchain protocols.
What problems does it solve for NFT creators?
All NFT creators and blockchain-based DAPPs that are into creating and selling NFTs need a marketplace to sell their newly created Non-fungible assets.
There are two ways how people are selling NFTs:
1. By Listing Their NFT Token On A Marketplace Like Opensea, Rarible, Foundation etc.
2. By Creating Their Own NFT Marketplace
Now, here’s why these two conventional methods are more of a problem than a facilitator:
- If you are listing your NFT on a marketplace:
a) Cuts a hole in your pocket: The costs to sell an NFT through a marketplace is exorbitant. To get your NFT listed, you have to shell a significant percentage – then there’s a commission on the sale. Here’s how an artist talks about their experience of how much they make selling an NFT through a marketplace.
b) No Control: NFT marketplaces have their own terms and conditions. They even control the price, the number of visitors and the positioning of your NFT on the marketplace. Your token on a big marketplace gets lost in a sea of other tokens. You cannot have custom features. You have to play by the rules that are not meant for your benefit.
c) Zero Connections Or Opportunities: Once you list your tokens, all you can do is wait for someone to buy them on the marketplace. You do not have any “real means” to promote yourself on the platform – and such promotions are again very costly. Also, you are not able to connect to other sellers.
d) Royalty Fees: On average, existing marketplaces allow up to 10% royalty fee for creators. Xircus provides flexible royalty for creators and they can get up to 15% share, and collectors can receive from 1% redistributed royalty shares after the third sale.
e) Commission: Existing NFT marketplaces charge up to a whopping 35% on first sales. That makes it difficult for new Creators and DApps to enter the market. Xircus eliminates this middlemen fee. We don’t have any commission on sales, only minimal transaction fees between 2.5% and up to 5%.
The problem here is, a successful selling strategy would require you to get your fans to sign up on a third-party marketplace, purchase your NFT and then pay a commission to the marketplace operator entity. It’s a total loss.
- We move on to the next best option that is if you are creating your own NFT marketplace:
a) Capital Intensive: Think of launching a blockchain-based DAPP or tokenizing an existing platform without leveraging an existing blockchain network or using the smart contract feature. Imagine if there were no Ethereum or Solana or Matic or any other “smart contract” provider – how hard it would be to create an entire blockchain network from scratch? Creating a custom NFT marketplace can be equally complex and capital intensive. That explains why many DApps and creators end up paying what’s rightfully their’s to third-party marketplaces.
b) Time Consuming: Creating a custom NFT marketplace requires professional developers and designers working for hundreds of hours. It may take months to create and launch a custom NFT marketplace without Xircus.
How Xircus solves these problems?
Xircus provides a cost-less solution to create and launch a custom and native marketplace. In six easy steps, DApps and NFT creators can create and launch their very own NFT marketplace within minutes. Watch this video to see a demo. We will be launching on the mainnet soon.
With Xircus, NFT creators and DAPPs do not have to get their tokens sold through a third-party marketplace. In effect, they don’t have to spend thousands of dollars and wait for months to launch their own custom NFT marketplace to sell their non-fungible assets. Advantages like Zero-commission on sales, perpetual royalty, near-absolute control of their marketplace not only empowers Creators, DAPPs and NFT Collectors but also benefits Xircus Ambassadors and Token Holders.
Xircus also addresses compatibility issues. DAPPs and NFT creators can deploy smart contracts to any EVM compatible blockchain. They have total freedom to choose a blockchain network of their choice.
In addition, the Xircus platform has many other exciting and advanced features for NFT marketplaces. Marketplace creators can also use custom features like special contracts for Music and Games, Subscription and Fans Membership Tiered Access, set their own curation rules, tag clone or fake items minted in the collection, and have their own NFT marketplace for themselves or their community launched using Xircus platform utilizing their own cryptocurrency token or XMT (Xircus Marketplace Tokens).
We hope this article helps you understand what we have created with Xircus, how it is different from a typical NFT marketplace or a “launchpad.”
It is just a sneak peek into the various utilities of the Xircus platform. There’s a lot more about how the Xircus ecosystem will radically change the way NFTs are sold and traded today.
Follow Xircus, and we will keep you posted.