What is collection xyz? Collection xyz is a decentralized NFT AMM platform deployed on Ethereum that allows users to buy, sell and trade NFTs. So what is special about this project? Let’s find out with Weakhand in this article.
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What is collection xyz?
Overview of Collection xyz
Collection xyz is a decentralized NFT AMM platform deployed on Ethereum that allows users to buy, sell and trade NFTs. With Collection xyz, users can create a Liquidity Pool using NFTs and ETH to automate the buying and selling of NFTs without the need for intermediaries. Anyone can buy and sell NFTs instantly from Pools on the platform with basic operations.
Collection xyz targets 3 main audiences including: Liquidity Provider, Trader and Creator. Collection’s goal is to increase liquidity in the NFT market and bring instant transactions without waiting for order matching as is the case with NFT Marketplaces at the present time.
Collection xyz’s operating mechanism
On the Collection xyz platform there are 2 types of Pools: Basic Pool and Advanced Pool.
- With Basic Pool: Users can provide liquidity to a collection (ETH, NFT) without specifying any additional filters, and the price of the entire NFT in the Pool is assigned according to the floor price of the collection. This makes this Pool unable to distinguish between expensive and rare NFTs that are worth much higher than the floor price.
- With Advanced Pool: Users can provide liquidity to a collection with feature filters that help differentiate common NFTs from other rare and expensive NFTs
In addition, Bonding Curve – a formula applied to determine the relationship between price and supply of a certain asset in the Pool applied on Collection xyz is Linear Curve and Exponential Curve. This allows users to have more choices in their liquidity provision.
What is the difference of Collection xyz?
Collection xyz has a number of outstanding features compared to other platforms such as:
- Users can create a Pool and categorize their NFTs into different groups in the Pool based on what the user desires such as: Rarity, characteristics or even whether they are banned on OpenSea or not.
- Positions in the Liquidity Pool are represented by LP tokens that can be combined with other protocols.
- Collection xyz does not charge protocol fees and Pool owners determine pool fees and royalty % in their Pool.
- Create an incentive vault with CollectionDraw to reward liquidity providers with NFT or token rewards.
Core Team
Spencer Yang: Co Founder
- Spencer graduated with a bachelor’s degree in business administration from Singapore Management University.
- Spencer joined CoinMarketCap as VP Growth in June 2019.
- After that, Spencer joined Coinbase as a Product in January 2021.
- In March 2022, Spencer quit his job and joined Collection xyz and is currently Co Founder at Collection xyz.
Jeremy Seow: Co Founder
- Jeremy graduated with a bachelor’s degree in communication studies from the National University of Singapore.
- Jeremy joined Zendesk in July 2012 with many different roles such as: Sales Director and Project Manager.
- After that, Jeremy moved to work for Torus as CPO from July 2018.
- In June 2019, Jeremy joined CoinMarketCap as Vice President of Products.
- After that, Jeremy moved to work at Chainlink as Product Management from October 2020.
- In March 2022, Jeremy joined Collection xyz and is currently Co Founder at Collection xyz.
Investor
October 12, 2022: Collection xyz announced a successful $5M fundraising with the participation of Coinbase Ventures, DeFiance Capital and Saison Capital.
Tokenomics
Update…
Project Information Channel Collection xyz
- Website: https://collection.xyz/
- Twitter: https://twitter.com/CollectionWeb3
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Discord:
summary
The NFT AMM segment is still quite new and has not really developed in the market. Collection xyz’s participation will partly help NFT AMM reach more users. Above is all I want to introduce about Collection xyz, hope everyone has received interesting knowledge.