By Cointime.com 237

Non-homogenized tokens (NFT), an emerging segment of digital assets, has continued to attract global attention and blazing investment in recent years. However, behind its rapid rise, the NFT space faces a number of important challenges that limit its further development and widespread adoption.

First, the issue of high barriers to entry is prevalent in NFT transactions. Ether, the most dominant NFT platform today, faces severe performance pressure and excessive transaction fees (gas fees). Due to the congestion and fierce competition in the Ethernet network, the level of gas fees to be paid for processing NFT transactions has reached record highs, discouraging many users from participating in NFT transactions. This high barrier not only limits the participation of regular users, but also causes problems for all parties in the NFT ecosystem, such as artists, creators and collectors.

Second, the issue of sustainability has become a growing concern. With the booming NFT market and the dramatic increase in transaction volume, the associated energy consumption is also growing rapidly, putting pressure on the environment that cannot be ignored. Therefore, how to ensure the normal operation of the NFT ecosystem while reducing the negative impact on the environment has become an urgent issue in this field.

Finally, validation is an important challenge in the NFT field today. With the rapid development of the market, many low-quality, counterfeit and even pirated NFT projects have emerged, raising questions about the authenticity and uniqueness of users. It is difficult for ordinary users to have sufficient crypto-digital domain expertise to identify and authenticate quality NFT projects, which provides opportunities for fraud and injustice and seriously undermines trust in the entire NFT ecosystem.

In the face of these challenges, innovators and participants are actively working to find solutions. They are exploring more sustainable blockchain technologies, such as Proof of Stake (PoS)-based consensus mechanisms, to reduce energy consumption and improve sustainability. In addition, developing easier-to-use NFT trading platforms and marketplaces that simplify complex transaction processes and procedures is a key step in improving the user experience. Meanwhile, establishing an effective verification and trust mechanism to guarantee the authenticity, uniqueness and quality of NFT projects through technical means and industry cooperation has become an important development direction.

In this dynamic and innovative field, addressing these challenges will drive the further development of NFT and provide a more secure, sustainable and accessible engagement experience for a wide range of users. As technology continues to advance and the industry works together, the NFT space promises to realize its tremendous potential and bring far-reaching impact to the arts, entertainment, gaming and digital economy, among others.

X-Meta.HK - How to maximize the benefits of NFT?

X-Meta.HK is a platform designed to provide a comprehensive distribution, casting and secondary trading infrastructure tool for NFT projects, aiming to maximize the benefits between NFT project issuers, crypto art communities and NFT buyers and sellers.

As a multi-chain aggregated NFT Marketplace, X-Meta.HK offers NFT project casting offerings, NFT secondary marketplaces, bidding auctions and c2c trading. The platform supports multiple language versions to accommodate users from different cultural backgrounds. It uses a diverse incentive model that combines mission badges, MAS points and tokens XMC to enhance user stickiness and stimulate the flow of transactions on the platform. Holders can participate in voting through XMC tokens, such as platform optimization and NFT project authenticity inclusion, to build the platform ecosystem together.

X-Meta.HK has built a new NFT token ecosystem by borrowing traditional financial methods, where XMC tokens are proportionally allocated to liquidity management, venture capital, pre-sale public sale, founding team, eco-pool, point exchange and pledge rewards. This ensures that XMC tokens are widely distributed in users' wallets and secures the core team's ability to develop and iterate on new products.

X-Meta.HK supports multiple major public chains and is able to efficiently process a large number of transactions and expand users' transaction options. It adopts a not fully decentralized login method, binds decentralized wallets through accounts, and supports multiple wallet types such as TokenPocket, MetaMask, and OuYi Web3 to meet users' preferences and diverse needs. In addition, the platform provides smart contracts to realize the fully automated flow of buying and selling transactions, completing transactions through trigger conditions, simplifying the transaction process, enhancing the liquidity of NFT, and bringing the best experience for users.

In order to deal with the problem of high risk in virtual asset finance, X-Meta.HK strictly screens asset issuers to ensure their professional capabilities to ensure the safety of users' assets and maximize the win-win situation for both sides of the transaction. At present, all NFT projects admitted to X-Meta.HK are subject to voting and verification, and whitelist search measures are implemented to facilitate users to check and get clear results with one click. Whether to open the NFT projects without verification in the future will be determined based on the development status of the platform and user experience.

Function introduction

1、Issue Center

The X-Meta.HK platform provides distribution services and charges a 15% fee.

The distribution center supports authors to customize key elements, such as rarity, probability model and royalty share. Each included NFT project will be reviewed and voted on by the community to exclude knock-offs and counterfeit projects.

2. Marketplace

X-Meta.HK provides the function to display, sell and buy sold NFTs. It enables decentralized transactions through smart contracts without human intervention.

Through X-Meta.HK, users can display their NFTs and accept offers from other users. The system will help users sell NFTs or provide decision advice based on set requirements. Sellers pay a 5% transaction fee and receive a discount for participating in X-Meta.HK. NFT project owners can customize royalties and receive a share of the transaction.

3. Task Center and MAS

X-Meta.HK provides users with bounty tasks and rewards, including airdrops and MAS tokens.

For NFT releases, users can complete a list of tasks to qualify for whitelist, airdrop benefits or discounted purchases.

X-Meta.HK also plans to hold regular investor contests to reward users with the highest investment points.

Actions such as uploading, purchasing NFT and participating in auctions will also be rewarded with MAS, which is a necessary metric to obtain the currency $XMC within the X-Meta.HK platform.

4. Account and Wallet

Users can log in with an account and password, and can also bind a decentralized wallet. The combination of account password and wallet facilitates KYC (Know Your Customer) and AML (Anti-Money Laundering) operations, as well as access to relevant information within the platform.

5. Auction function

HK will allow sellers to create smart contracts to store NFTs, and set the starting price and auction duration.

Buyers will be required to deposit the amount of virtual currency to the smart contract address to participate in the auction, with no refunds until a higher bid is placed. At the end of the auction, the NFTs will be sent to the highest bidder and the corresponding virtual currency will be paid to the seller, who cannot cancel the order. A 5% transaction fee will be charged for the auction.

6. X-Meta Pro

Pro is a trading aggregator designed for traders, providing a variety of trading data and charts. Real-time multi-platform data, advanced order settings, asset manager, mobile compatibility and other features to meet the needs of traders.

7. Knowledge Center

X-Meta.HK is dedicated to promoting knowledge in the crypto-digital field, providing education and an open platform. It hopes to create cryptocurrency and crypto art content through social media accounts, thus providing a hub for users of all experience levels to learn about NFT, cryptocurrencies, and the X-Meta.HK ecosystem.

Economic Model

XMC tokens are the core of the X-Meta.HK project, with a total supply of 1 billion.

1. Community Distribution Mechanism

The Mas exchange process will begin with the launch of XMC and is scheduled to be completed within 36 months. According to the plan, X-Meta.HK will distribute 456 million tokens, accounting for 45.6% of the total offering.

The 36 months of the redemption process will be divided into 4 phases, each consisting of 3 quarters, for a total of 12 quarters, each lasting 3 months. At the end of each quarter, X-Meta.HK will count the current mas rankings and redeem the corresponding number of XMC tokens. The percentage of token distribution varies slightly for each phase, but overall the first phase has the highest distribution and decreases thereafter.

Each quarter's token distribution will be sent to the user's account via airdrop and will require the user to manually open the airdrop box in order to receive the tokens. If a user does not open the drop box within a specified time period, the tokens for the current quarter will be withdrawn and included in the next quarter's distribution. 12 quarters later, any undistributed tokens will be added to the pledged reward pool.

Tokens allocated to the Founding Team, Eco-Pool and Pledge Rewards will be distributed according to the same distribution schedule, except for the community. However, tokens allocated to the Liquidity Management Pool, Venture Investors and Sale will be minted and distributed to their respective addresses prior to the start of the first quarter. If no investors have announced investments at this time, these tokens will be held at a dedicated public address. At the end of the 12th quarter, all tokens will be fully minted. The storage addresses of the liquidity management pool, venture capital (in case of no investment) and ecological pool will be publicly available on the X-Meta.

2. Mas Surge Phase

X-Meta.HK will start selling XMC tokens when the cumulative mas of all users reaches 50 million.

When the accumulated mas of all users reaches 100 million, the mas redemption phase will begin and the "quarter" will start.

HK will start the IDO/IEO process of XMC when the total mas of all users reaches 500 million, which is expected to last for 3 months.

3. Token allocation rules

1) Liquidity Management

HK reserves 2.9% of tokens for liquidity management in the token economy model. These tokens will be minted at the time of initial issuance and will be stored in a public address. They are mainly used for contingency purposes and to facilitate the overall regulation of the X-Meta Board.

2) Venture Capital

8% of the $XMC tokens will be used for venture capital. This portion of the tokens will be minted at the time of the initial offering and will be held at a dedicated address until an investor participates.

3) Pre-sale and Public Sale

X-Meta.HK will offer pre-sale and public sale opportunities for $XMC tokens. The timing of the pre-sale and public sale has not yet been determined, but the plan is to announce a sales preparation period when the overall user mas reaches 50 million. After a 1 month preparation period, the pre-sale and public sale will officially begin. During this phase, a total of 11.5% of the tokens will be minted and distributed.

4) Founding Team Holding

The 10% of $XMC tokens allocated to the founding team will be minted and distributed over 12 quarters, at the same pace as the community token distribution. A small portion of the founding team's share will be used for development and testing purposes.

5) Ecological Pool

In the future, X-Meta.HK will build a complete NFT ecosystem to encourage quality applications to join the X-Meta.HK ecosystem. Therefore, X-Meta.HK has set up an eco-pool to support the development of quality eco-applications. It will contribute 5% of its $XMC tokens to the eco-pool, and the X-Meta council will vote to decide which apps will receive funding support. These funds will be used to help selected apps with development and product iteration.

6) Mas Exchange

45.6% of XMC tokens will be issued to users in mas redemptions. After 12 quarters of counting and distribution, theoretically all 456,000,000 tokens will be distributed. At the same time, all 1,000,000,000 XMC tokens in the ecosystem will be minted and distributed to the corresponding wallet addresses.

7) Pledge Reward

X-Meta.HK has established a pledge reward pool to ensure that users are rewarded for pledging their XMC tokens. Each XMC token can be pledged. Each pledge period is 2 months and the interest will be returned to the user's wallet at the end of the pledge along with the principal.

Conclusion

X-Meta.HK, as a multi-chain aggregated NFT Marketplace, aims to provide issuance, minting and secondary trading infrastructure tools for NFT projects to facilitate the development of the NFT market. In the future, X-Meta.HK is expected to further expand its platform features and services to meet the growing needs of its users.

By supporting multiple major public chains and multilingual versions, the platform is able to attract users from different cultural backgrounds and provide more trading options. x-Meta.HK also employs diverse incentive models such as mission badges, MAS points and tokens XMC to increase user engagement and stimulate the flow of transactions on the platform. The platform also plans to launch an auction feature and a trading aggregator designed for traders to provide more trading options and convenience.

However, whether or not to open the NFT program for inexperienced traders in the future will be subject to a combination of factors including the state of development of the platform and user experience.

Overall, X-Meta.HK is committed to building a secure and trustworthy NFT ecosystem for users and providing greater benefits to NFT project issuers, the crypto art community and NFT buyers and sellers.