A Whitelist Marketplace
Recap
A lot has happened in the past couple of weeks for the X-Consoles ecosystem, but one fact has remains unchanged — we are unwaveringly focused on becoming the decentralized steam of P2E. This is heavily predicated on us building and providing the technology and infrastructure to facilitate the connection between these P2E projects and those these games can add value to, such as a whitelist marketplace
Benefits for Projects
Whitelists are indubitably the means by which P2E projects gain initial exposure to their community. Choosing the right community can be an arduous task, but we’re confident that, through the X-Consoles ecosystem and, in particular, our marketplace, these projects will be able to find a community that will be supportive, eager, and care for the long-term prospects of the project. All projects that want to be partnered with X-Consoles, and provide whitelist spots for our marketplace, will also have access to our community and branding allowing X-Consoles to promote the development, initiation, and long-term health of the space.
For Up and Coming projects interested in partnering with X-Consoles:
Email: apply@xconsoles.tv
Creating a market and economy for these whitelist spots will make it such that any demand observed for them will undoubtedly translate to further demand later in secondary trading, thus bolstering the success of these projects and the perceived viability of them. These projects will all be showcased and promoted on our platform, with activity pertaining to the auctions of their whitelist spots lending them awareness and providing preliminary indicators of their future success.
Why Are We Doing This?
This is how the steam of P2E comes to fruition — users of the platform will be immersed in a world of P2E projects in an amalgamated fashion unseen by any other platform. They will eventually have a wide variety of games to pick from and be able to become whitelist participants if they desire becoming such enough.
All these auctions will be held ETH, USDT, USDC, or $GAME and a fixed 5% fee will be levied on all the funds raised in these auctions. The fee charged on a particular raise could however vary depending on the auction as we don’t expect homogeneity with respect to the terms of each partnership. If the auction’s held in $Game, the fees charged will be directly burnt, whereas if it’s held in ETH, USDT, or USDC, $Game will be bought with the fees and then burnt.
We recently proudly partnered with our friends at PixelDAO and they gifted us 100 of these whitelist spots. We took these spots and held auctions on OpenSea, using the proceeds to add liquidity to $Game. If anything, this served as a proof of concept of a whitelist spot marketplace with auctions — we saw substantial demand for these whitelist spots, with bids going as high as 0.5 ETH, even though it was restricted to X-Console holders, and the max contribution in purchasing the tokens as a whitelist participant was also around 0.5 ETH.
How Will It Work?
Our whitelist marketplace will work in a very similar manner, but will also be much more structured, with the platform being more accommodative to a whitelist marketplace function than Opsensea could. The participants in the auction will be bidding on an NFT that represents a whitelist spot. There will be a date for a snapshot for each auction that will determine which wallet addresses will be given a whitelist spot based on which ones at that point own the NFT.
In the interim between the auction and the snapshot date, secondary trading of the whitelist spot NFTs can take place, and the whitelist spot can essentially change hands until that date. But regardless of who owns the NFT after the snapshot date, the whitelist spot will go to whoever owned it at the time of the snapshot. The snapshot date will be clearly highlighted on the project’s page in the whitelist marketplace to ensure that participants are cognizant of whether the snapshot has taken place before they decide to purchase a whitelist spot NFT.
Thus, the P2E project’s pages on our whitelist marketplace will have the following:
- Projects details: name, logo, social links, description.
- The date/time of the auction: when the auction will be active on the website.
- The date/time of the snapshot: when the snapshot will be taken for those who hold the whitelist NFT.
- Number of whitelist spots being given away, i.e., number of NFTs purchasable.
A list will be generated after the snapshot and will be displayed on the page to allow participants who own the whitelist NFT to confirm and verify that they indeed made the snapshot and are whitelisted. The platform will only allow one whitelist spot per wallet for any given P2E project.
Future of The Marketplace
Everything spoken about in this article thus far manifests the preliminary version of the whitelist marketplace — solutions and tools built for projects to sell their whitelist spots directly. But this whitelist marketplace will soon also be applicable to individuals who have been able to obtain whitelist spots from whitelists that weren’t initially auctioned on our platform, in a trustless fashion. This will involve the seller of the whitelist spot putting up collateral in $Game, with escrows and smart contracts at the time of the sale. This makes sense because if we’re striving to build a marketplace for whitelists, why not be comprehensive?
The idea for a whitelist marketplace came from us extrapolating and attempting to be more all-encompassing and ubiquitous with our utility propositions. We gauged the excitement and enthusiasm our community had for the whitelist spots given to us from our partnerships and knew that such excitement and demand would extend to whitelist spots and such opportunities outside the domain of our partnerships. We believe that this will take the X-Consoles brand further, allowing it to achieve a greater surface area of awareness and influence that will lend itself to X-Consoles brand recognition and validity, which is going to be vital for future projects. WAGMI!
