FAIR.XYZ NFT PLATFORM

Fair.xyz is a secure and transparent for collectors thanks to private blockchain technology. FAIR.XYZ NFT Platform aims to present. Besides low transaction fees, it is fair.users on the xyz platform have full ownership of NFT parts.  The platform will also enable NFT creators to reach a wide audience of collectors.

FAIR.XYZ Highlights

Fair.xyz was founded by a group of engineers from Instagram and Goldman Sachs. One of the most outstanding features of this NFT platform is that there will be no deductions from the income that NFT artists will receive from sales. Similarly, no prepayment will be paid to developers. Fair in that respect.xyz is a platform where NFT artists can put their collections up for sale without incurring a cost. 

It is accepted by everyone that the NFT market has been the most popular sector in the crypto world in recent years. Unfortunately, the NFT market has become increasingly crowded with the inclusion of everyone, and real NFT works have become lost in the crowd. In the increasingly complex, crowded and incomprehensible NFT market, if you are a real NFT artist, it has become quite difficult to find the right collector for your work. That’s where it’s fair.xyz NFT platform brings you together with a large-scale audience of NFT collectors to see the value your work deserves and reach the right collector.

fair.xyz
fair.xyz

All of them are fair, a former Commodities and Goldman Sachs engineer.xyz founders, Isaac Kamlish, Isaac Bentata Chocron and Nathan Cohen, state that the current NFT printing (mint) process is broken. They also stated that they believe that transaction fees, transaction failures and lack of knowledge on the part of developers deter many people from creating their own NFTs.

According to the founders, thanks to fair.xyz’s solution, creators can launch their NFT collections in minutes. The smart queuing technology they have developed will also help reduce transaction fees and the likelihood of failed transactions.

What FAIR.XYZ Offers to NFT Artists

Believing that NFT creators and artists should focus only on their works, the fair.xyz platform aims to be a one-stop shop connecting NFT artists and collectors on Web 3.0. In this market, which has a final technical structure in the background, NFT artists will be able to submit their works to the platform in a few clicks without any code and software knowledge.

The founders of Fair.xyz believe that NFT artists only need two things: a wallet address so that they can receive the income from NFT works and sales. Everything else, such as the collection homepage, integration of NFT mint, smart contract placement, decentralization, is entirely provided by the fair.xyz platform.

fair.xyz investors
FAIR.XYZ Backers

An Infrastructure That Protects the Artist

Fair.xyz offers a state-of-the-art NFT minting experience from start to finish. No matter how many people try to mint it, it claims to have developed a technology that allows keeping transaction costs low during the sale of your artwork. With smart queuing technology, it prioritizes real collectors and removes malicious users, scripts and bots, so that your fans get a fair chance to mint NFT. 

When you use the Fair.xyz platform, you don’t need to pay 20-25% unnecessary upfront costs to developers. There is also no need to pay a 40% deduction from your sales to the galleries where your sale takes place. Fair.xyz provides all the infrastructure you need to start your collection, so you can focus only on your art. In return, they receive 6% of the primary sales revenue after the sale takes place. We can say that this is the whole point.

It is also worth noting that it is fair.xyz does not throw an NFT artifact that you created into a huge smart contract filled with other people’s work. With Fair.xyz, your artwork stays in your own smart contract, which is both owned and managed only by you, from distribution to eternity. This means that you can unlock a much wider range of features than other traditional minting platforms that enable true Creator – Collector interaction. 

In an increasingly fragmented and incomprehensible market, it can be difficult to find an audience for your NFT artwork and you may be compelled to spend long hours scrolling Twitter and Instagram. Fair.xyz supports NFT artists by leveraging blockchain data and data science to ensure that your artwork is discovered by the right collectors.

Fair.xyz states that the costs can be expensive when distributing a collection on Ethereum (Layer 1), stating that artists have made an optimization so that launching NFT collections is 10.5 times cheaper than any traditional distribution.

Funding of FAIR.XYZ

Fair.xyz project, which aims to present all the features mentioned above to NFT artists, has had an investment process managed by a venture capital company, Eden Block. OpenSea, one of the most well-known NFT marketplaces, supported the fair.xyz platform, which will provide NFT minting service with 4.5 million dollars, during the investment process with the participation of OpenSea, NFX and First Minute Capital.

The fair.xyz initiative, which partnered with the Ukrainian government to assist Ukraine in launching its own NFTs to finance the war against Russia, has reached a value of $33 million after the investment process was completed.

Summary

As a result, although there are many no-code solutions available for artists in the NFT market, these solutions only help to create one- or two-piece collections. For example, if you want to release a collection of 10,000 pieces, you need to deploy your own smart contract, create a website and fully integrate NFT into it, while creating your artwork. This whole process is a very detailed work that can take weeks even for an experienced team. In order to eliminate all these problems and offer a more practical, fast and inexpensive alternative to NFT artists, fair is moving forward.we are waiting for the xyz platform to come to life.

References

  • https://fair .xyz/
  • https://theblock.co/

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