Place/Date: - April 29th, 2022 at 1:16 pm UTC · 3 min read
Of all the attributes out of the crypto industry, the Non Fungible Token (NFT) industry is one of the most widely established, growing bigger and bigger each day. With such a growing industry in recent years, certain analysts predict that it may indeed overtake the crypto industry itself.
In such a heightening market, the competition also owes to be high. However, new NFT marketplaces don’t brimm up as much as new crypto exchanges and platforms. And so the recent new kid in town is XinFin’s XDCNFT.
The XDCNFT functions on the XinFin’s XRC20 blockchain and is completely built by the U.K based tech firm the BlocksWorkz. BlocksWorkz is indeed a one stop shop for all sorts of NFT project designing, framing and building up. They also indulge in developing various blockchain applications too.
With all this in hand, a deep dive is necessary in order to find out the true potentials of the XDCNFT, in comparison to that of the big daddies like OpenSea and Rarible.
Comparing a newbie directly with the top giant of the industry may be skeptical. But regardless of the market cap, the technological features are the ones which we have to look for. Note that a bigger market cap is directly proportional to the highly adaptive technology behind a project.
Firstly, taking the gas fees for the transactions into account, the XDCNFT charges only a mere $0.00001. This is no way comparable with that of both OpenSea and Rarible, which are both at $47 along with the average included too.
Similarly, the buyer minting gas fees also amounts to the same $0.00001 for XDCNFT, whereas those for the OpenSea and the Rarible are both with $47 plus average. All this is possible by the XDCNFT as it operates on XRC20, whose transaction gas fees are as such low.
Secondly, the sale price fee for the XDCNFT amounts to 1% of the total NFT value. On the other hand, both OpenSea and Rarible are at 2.5% of the total value of NFT.
Apart from this, one particular area where XDCNFT overtakes OpenSea evidently is with the zero charges for the installation fees. However, Rarible also follows the same as XDCNFT too.
And so, with these three major points being the specific concerns, XDCNFT excels over OpenSea and Rarible. However, with further time and effortless developments, chances are there for the XDCNFT to top the charts in future.