SINGAPORE, July 20, 2021 (Newswire.com) - Since Beeple sold their NFT artwork for $69.3 million on Christie's earlier in April, many artists and digital content creators have actively started using NFTs to sell their artwork. For content creators, including musicians, artists, and influencers, amongst others, creating a non-fungible token allows them to provide unique and immutable certificates of authenticity and ownership to their fans, buyers and NFT collectors.
While creating NFTs is a great way to sell "creative assets" by digitizing them, the process is expensive. NFT creators often have to rely upon several NFT marketplaces to reach potential buyers. Moreover, there are several other additional costs and limitations. All popular NFT marketplaces charge a significant commission. Often these marketplaces set the prices and also control the market. On average, if an NFT creator sells an NFT token for $100, they end up pocketing $60 or less. The way the market is structured, creating NFT marketplaces is arguably a highly lucrative business for all - except the artists, musicians, influencers and other creators.
One would ask if NFT marketplaces are not the most profitable way to sell NFTs, why don't NFT creators try selling them directly? The problem is NFT creators will have to create a digital marketplace where potential buyers can participate in auctions, make bids and buy. Building an NFT store from scratch is costly.
To help creators sell NFTs directly to buyers, Xircus, a blockchain-based startup, has created an intuitive platform anyone can use to create and launch a custom NFT marketplace and build their own NFT ecosystem. Based on a decentralized software as a service (DSaaS) model, Xircus claims to be the world's first multi-chain gamified DAO platform that allows both individuals, brands and even startups to create and deploy custom NFT marketplaces.
Explaining how Xircus helps NFT creators, Co-founder Falco Pangkey said: "NFTs are one of the most popular use cases of blockchain technology. Traditional NFT marketplaces that provide access to this new class of digital assets solve many problems but one - providing power and control to stakeholders like individual content creators, brands, artists, and influencers. It is where Xircus steps in and eliminates the undue influence of intermediary platforms by allowing users to easily create a custom NFT marketplace ecosystem free of cost and without having to write a single code."
Michael Molina, Xircus Co-founder and CTO added, "Unlike typical NFT marketplaces, on the Xircus platform, creators have absolute control - they can also add custom features to their NFT marketplace ecosystem and decide NFT price and payment terms."
Last week, Xircus also shared a demonstration video explaining how to create and launch a DIY NFT marketplace using simple tools on the platform. The team is planning to go live in the coming week.
Company: Xircus Pte. Ltd.
Contact: Falco Pangkey
Source: Xircus NFT