General NFT Marketplace
NFT stands for Non-Fungible Tokens. They are a certificate of ownership registered on a blockchain for everyone to see. They are unique tokens that cannot be duplicated. The concept of NFTs came from the idea that, just like physical content, digital content can also be scarce.
A lot of people have misconceptions about what an NFT is. An NFT is a unique token with an identifier. It is not a picture or a piece of music.
We can make NFT tokens represent a picture, music, or any physical or digital asset by using smart contracts to point to that asset. But without information about that asset, the NFT has no other data. So, to simplify everything, NFTs are simply tokens that point to other things. They can point to images of fuzzy bunnies, car titles, music clips, and just about anything.
In 2021, the NFT space grew by a whopping 11,000%, with the total estimated value of NFTs sold last year being $40 billion. In the first week of May 2022, total sales hit $37 billion. If sales continue like this, it’s estimated that NFT sales will hit $90 billion by the end of 2022.
From the above figures, we can see that NFTs are here to stay, and even though we are still in the early days, this is already a massive industry.
The NFT space is an emerging industry, and now is the best time to get in. The earlier you get involved with NFTs, the better you will be positioned to take advantage of the upcoming disruption that NFTs will cause. NFTs have the potential to eventually replace car titles, house deeds, and much more on the blockchain.
What makes NFTs Valuable
Now that we know what NFTs are and what they do - let’s look at the economics of NFTs and see why they are so valuable.
What makes NFTs truly valuable is what we can do with them. When you buy an NFT, you are not just paying for the jpeg or piece of music; you are paying for the perceived value behind the NFT; you are paying for what it represents.
For example, if you buy a Music NFT from an artist, you are not paying for the song or album; instead, you are buying into the artist because you believe in them.
The value of NFTs comes from economic concepts that have been around for a long time. Concepts such as scarcity and demand are what make NFTs valuable.
NFTs, by design, are meant to be rare. The rarer a piece of NFT is, the more valuable it becomes. The blockchain is the first time we’ve been able to create scarcity with digital items, and it's a huge building block of the digital economy.
But Scarcity alone is not enough to create value; there has to be some demand for an NFT for it to be valuable.
Without demand, an NFT would be worthless. If nobody wants an NFT, it doesn’t matter if it’s the only copy available; it won’t be valuable. So, therefore, for an NFT to be of any value, it has to be rare and in high demand.
That is why at Xircus, we built a protocol that makes it easy for anyone to deploy an NFT marketplace of value in minutes bundled with awesome features.
Now that we know what makes NFTs valuable - let’s dive deeper into how to get started in the space.
What is an NFT marketplace?
Before you create an NFT, you must have a place where you can sell it. Because of its non-fungible nature, you currently can’t buy or sell NFTs on most regular centralized or decentralized crypto exchanges. And that’s where NFT marketplaces come into the equation.
An NFT marketplace is a Web3 application that provides a platform that allows people to buy, sell, and create their own NFT tokens. These marketplaces use blockchain technologies to verify and validate the ownership of digital tokens to ensure that a given piece of NFT is the original and not a replica.
There are three types of NFT marketplaces that people can create and trade NFTs on. These are the streamlined, augmented, and branded marketplaces. You can create and sell your NFTs on streamlined marketplaces, such as OpenSea, or augmented marketplaces, such as SuperRare.
The Downside of a Streamlined and Augmented Marketplace
Although streamlined and augmented marketplaces are popular and readily available, that doesn’t mean they are the best options.
Let’s quickly go through some of the downsides of streamlined and augmented marketplaces to see why you are better off using our protocol to build your own branded marketplace.
Most streamlined and augmented marketplaces are not fully decentralized.
Because most of these marketplaces aren’t decentralized, they usually face regulatory limits on their operations.
Most of the available streamlined and augmented marketplaces have poor cross-chain interoperability.
Most of these marketplaces only use the Ethereum blockchain, which is known for its outrageous gas fees that discourage people from buying and selling NFTs.
Most of these marketplaces charge a high fee for using their platform, which makes the cost of buying and selling NFTs very expensive.
These are some of the reasons why we decided to build our protocol. We wanted to create a platform that simplified the process of getting started in the NFT space.
Benefits of Owning Your own NFT Marketplace with Xircus
Deciding to own an NFT marketplace is one of the most important decisions you can make for your personal or business brand. This decision alone can determine if your NFT project succeeds or not.
Although creating your own NFT marketplace is the way to go, lots of people can’t because of how expensive and complex it is to set up an NFT marketplace. And that’s why at Xircus, we’ve built a protocol that allows anyone to effortlessly deploy an NFT marketplace in minutes, free of charge, and with no hidden cost.
These are some of the reasons why you should consider owning an NFT marketplace on the Xircus protocol.
Unlike the streamlined and augmented marketplaces, where you don’t have a say over the looks, with your own NFT marketplace built on the Xircus protocol, you are in total control of how it looks and can customize the interface how you see fit. And the best part is that we’ve provided free and premium skins for you to choose from for the look and feel of your marketplace.
With your branded marketplace built on Xircus, you won’t be susceptible to market manipulations as you are in charge of everything that has to do with your marketplace.
You will generate a higher ROI with your branded marketplace than you would with streamlined and augmented marketplaces. When you build your marketplace with Xircus protocol, we provide you with everything you need to start making money with NFTs.
When you create your NFT marketplace with our protocol, you get to cut out the middlemen and keep all of the profit you make selling your NFTs.
With our protocol, you have the freedom to deploy your marketplace on any blockchain of your choice. Here at Xircus, we support multiple blockchains, so you are not stuck using the Ethereum blockchain on your marketplace unless you want to.
Xircus NFT Verticals
Our protocol caters to different verticals. If your project falls within any of these verticals, you should consider creating your NFT marketplace with us, as we have all the cutting-edge tools you need to make your marketplace profitable.
These are some of the verticals we currently support at Xircus:
Music and Short videos
Public Marketplace
Tickets and Subscription
Blockchain Game Items
Charity
Adult Collectibles
Physical Items
Fractional Real Estate
Fan Only Contents
Sports
Fashion and Luxury
Ecommerce
Celebrity and Influencers
And many more.
How to Earn with Xircus
At Xircus, we’ve created multiple streams of income that you can use to start making money in the NFT space.
As DAO - Get early access to products, VIP lounge, newsletters, early opportunities, discounts, and membership rewards when you own over 5000+ Xircus tokens
As Collector - Collect NFT tokens from different marketplaces and manage your collectibles via the Xircus Mobile and Xircus TV apps
As Provider - Earn from deploying APIs to cached data for marketplaces
As Creator - As a creator, mint and list your NFTs on our NFT marketplace for as little as $1 per listing and start making money when your NFTs begin to sell
As Marketplace Owner - Deploy your NFT marketplace, customize your fees and themes, mint and start selling your NFTs, and create staking opportunities for your customers
As Ambassador - Become an affiliate and earn from helping your favorite creators promote their NFTs
Our Products
At Xircus, we’ve built everything you need to start your NFT business. Our protocol comes bundled with all the features needed to successfully launch and deploy an NFT marketplace.
Asset Tracker - Track all your NFT assets with our Asset Tracker
Market Explorer - Discover awesome NFT marketplaces with our Market Explorer
Xircus Punks - NFT Avatars for DAO
Launchpad - Launch and auction your decentralized tokens with our features packed launchpad
Provide Center - You can now deploy your very own NFT data server with our protocol
Token Factory - Deploy ERC20/BEP20 Tokens
Governance - DAO, Voting, and Lounge
Deployer Studio - Deploy an NFT Marketplace or NFT store with our Deployer Studio free of charge and with no hidden cost
Xircus Skins - Buy and sell marketplace skins
Stake and Farm - Incorporate staking rewards in your NFT marketplace with our staking and farming extension
NFT Meta - Manage NFT metas
Leaderboard - Get your marketplace discovered on our leaderboard
At Xircus, we’ve provided everything you need to take full control of the NFT Space: Build NFT marketplaces that are deployed, owned, and governed by YOU on multiple chains such as Ethereum, BSC, Polygon, Fantom, Moonbeam, Moonriver, Avalanche, Celo, Optimism, and many more.