X2Y2 NFT Marketplace to Keep Low Trading Fees in July
The X2Y2 NFT marketplace has decided to keep its platform's trading fees at 0.5 percent during July as the crypto and NFT bear markets continue.
The low trading fees are a part of X2Y2's promotional period. In April, the platform had zero platform fees and reimbursed gas fees in its native token. In May, it switched to 0.5 percent platform fees and reimbursed those platform fees in its native token.
That 0.5 percent platform fee extended into June and will now extend into July.
"Seems [the] bear market [has] decided [to last] more than a month or so," the team tweeted. "As such, we've decided to keep X2Y2 fees 0.5 percent to support all of you that are still here trading, support, and loving the NFT space."
Platform fees on OpenSea are currently 2.5 percent and on LooksRare are 2 percent.
X2Y2 is currently approaching 1 million ETH in total volume on its platform. It has 5,29,869 total trades, according to Dune Analytics.
In comparsion, OpenSea has completed more than $30 billion worth of NFT trades in its platform's history and has nearly 2 million total users, according to DappRadar.