Universe.xyz was founded by artists and aims to give artists the tools they need to create a Collection or a single NFT, as well as the ability to monetize them. Continue reading to find out all you need to know about Universe.xyz in order to make informed decisions regarding your investment. Continue reading to find our step-by–step guide for buying Universe.xyz tokens (XYZ).
The Universe Protocol is an NFT market that offers social media services, including minting, NFT tool, auctioning platforms and forums. This marketplace was created in order to facilitate NFT community engagement.
NFT Marketplace is powered by the completely decentralized xyzDAO.
XYZ, the native governance token used by the Universe Protocol for voting and staking in the ecosystem is
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The Universe.XYZ (XYZ).
The Universe protocol, a social media NFT market built on Ethereum, provides artists such services as minting and auctions, social tool, forums and NFT galleries. It also offers NFT tools and tools to easily mint and monetize NFTs.
The NFT Marketplace is entirely decentralized and powered by the xyzDAO.
Universe protocol is user-friendly and creator-centered. Whitepaper states that it does not charge a transaction fee for primary sales, and that it only charges 1% for secondary sales. Universe.xyz lets creators mint NFTs and NFT collections without the use of a smart contractor developer. Or mint projects on smart contracts they already have.
By holding the token XYZ, collectors and artists are able to build communities on the platform that they share. Second, buyers and community members can communicate and access all details about collections in one spot.
Here are some uses for the XYZ native Governance token
- Voting for the xyzDAO proposal
- Participate in the xyzDAO and earn XYZ reward points
Universe.XYZ Products and Services
These tools are available in Universe and xyzDAO:
- NFT Minting – Individuals can use decentralized NFT minting and custom ERC-721 minting contracts.
- NFT auctions – Specialized and normal NFT auction house with various auction formats.
- NFT Social Media – Decentralized NFT Social Media Platform for building an NFT community and sharing information on NFTs.
- NFT Galleries – Galleries and slideshows for a curated presentation of NFTs and collections.
- NFT Social Tools – Introducing social tools such as wiki bases and knowledge bases to the NFT community, along with likes and other features.
- The Drop of NFTs and Other Information – As the NFT space grows, xyzDAO generates innovative NFT drops to explore use cases, games, metaverses, and much more.
What is XyzDAO?
Universe Protocol is community owned and operates in a fully-scale DAO. This follows the ideals decentralization of smart contracts to data. In xyzDAO, XYZ holders are given voting rights to participate fully in the fees and the project’s future, including voting on the Market launch. Additionally, the DAO oversees the creation of new collections and the deactivation or activation of the $XYZ coin mint function.
The xyzDAO fork is a fork in the BarnBridge DAOQuantstamp and Haechi reviewed the document.
Is There a Circulation of XYZ Tokens
xyzDAO launched officially on June 6th 2021. 1 Billion XYZtokens were created by genesis. A specific amount of additional supply is available each year to help new users join the network. The pie chart below outlines the distribution of XYZ tokens.
Founders of XyzDAO
Universe.xyz is co-founded by Tyler Ward (Tim Kang), Troy Murray and Milad Manyavi. This team is highly skilled in DeFi/NFT and has worked on many projects such as BarnBridge and LeagueDAO.
Murray was the co-founder and chief executive officer of BarnBridge. This fluctuations derivatives protocol is used for hedge yield sensitivity as well as market price movements. Murray also founded RUDE labs which is a crypto-centric art company. Murray has been researching the many benefits of blockchain to artists and media since 2012 when he was first bitten by it. His time has been spent working in the cryptocurrency space on Ethereum-based projects. Murray was previously involved in SingularDTV/Breaker as well as snglsDAO which both attempted decentralization of media and entertainment. Murray created an Ethereum-based equity crowdfunding platform for Title III in 2016 using Ethereum tokens.
Tyler Ward, a BarnBridge founder and creator of Proof Systems is one of the most prominent marketing and UX agencies focusing on digital assets. Ward previously worked for ConsenSys (which was purchased by Coinbase), FOAM and NEAR Protocol. He also created Proof Systems, a top marketing and UI/UX firm focusing on digital assets. Ward began his career in cryptocurrency late 2016, and has since purchased and sold many eCommerce businesses.
Milad Mostavi is also the co-founder of BarnBridge and serves as the company’s CTO. A seasoned software architect, he has been involved in a number of projects for ConsenSys during the past five years. Mostavi’s contributions were critical in successfully launching Gnosis and creating SingularDTV’s entertainment decentralised ecosystem.
As a sole engineer, Tim Kang created Sevens Foundation as well CUE Music to support and empower creatives. His visionary nature as a techniecist and product savant led him to invest in Ethereum and BarnBridge. He also worked with Chainlink on a decentralized system that would create an equitable future. Kang is also known as the ‘illestrater,’ who had broken NFT sales records in early 2021, which helped bring NFTs into the public limelight.
Where can I buy XyzDAO Governance tokens (XYZ).
Trade XYZ is possible on increasing numbers of exchanges. There are stablecoin and crypto pairs.
Effective July 20, 2222 SushiSwapProvides the biggest pair (XYZ/USDC).
Are you new to crypto? Read CoinStats “How to Purchase Cryptocurrency,” an easy guide to buying Bitcoin or any other token.
Take a look at the XYZCurrent price, market cap and total supply are all available on CoinStats. This is one of the most popular platforms for cryptocurrency.
How to Purchase Universe.xyz.XYZ (XYZ).
You can purchase XYZ cryptocurrency tokens at several crypto exchanges, such as Coinbase, Kraken, Binance, FTX, UniSwap, Gate.io, etc. Changelly allows you to exchange crypto quickly and purchase XYZ tokens via credit cards.
To find the right crypto exchange, you must first compare them. You should also consider whether the cryptocurrency exchange is regulated and permits you to purchase XYZ with your preferred payment method.
Many exchanges will require that you purchase popular cryptocurrency first and then swap it for Universe.xyz It should be supported by an exchange.
The buying of XYZ and other cryptocurrencies can be done on most platforms. Below is a step-by-step guide on how to purchase Universe.xyz (XYZ), via Coinbase or CoinStats.
Coinbase: Where to Buy Universe.xyz? (XYZ).
Coinbase is the world’s most famous cryptocurrency exchange. It’s simple to use and supports a wide range of crypto currencies, including Universe.xyz. Due to its ease-of-use and security, Coinbase is very popular with customers.
These are the steps you need to follow in order to purchase Universe.xyz on Coinbase.
Step 1. Create a CoinbaseAccount
The first step is to sign up for a Coinbase account if you don’t already have one. To receive a confirmation email, you must enter a valid email address. Click the link below to complete the account verification.
Also, you must provide your personal data and follow the KYC verification process. Coinbase can use your phone number for Two-factor authentication (FA2) on your account. This makes it even more secure.
Step #2: Add a Payment Method
In order to deposit funds into Coinbase, you will need to link your payment method (e.g. your bank account or credit-card). While Coinbase doesn’t charge any transaction fees for bank transfers, you can’t withdraw your funds for 5 days. Wire transfers incur a small transaction fee, but withdrawals are immediate.
You can buy with a credit card immediately after making a purchase. Your weekly limit for credit cards is approximately $750.
Step 3: Purchase USDT
After transferring funds into your Coinbase account, select your fiat currency on the “Transact” screen under the “From” field and choose USDT on the “To” field. Double-check your transaction details and click “Confirm.” You’ve now purchased USDT required for your XYZ purchase.
Step #4: Transfer USDT
Since Coinbase doesn’t allow you to purchase XYZ directly, you must move your USDT to an altcoin exchange supporting XYZ.
To create an altcoin account, you must complete the verification procedure. Then, deposit USDT using your wallet to your altcoin bank account.
Once your transfer has been confirmed, it should show in your exchange’s account.
Step #5: Order XYZ
Now, click “Withdraw” to enter the number of tokens you want to buy, and then click “Trade” to choose your market. Select your trading pair, for example, XYZ-USDT, enter the quantity of XYZ you want to buy, and then click “Buy.” The order will be placed and completed within seconds, and the XYZ tokens will be reflected in your Coinbase Wallet.
The above process was for buying XYZ at a market price. This is the price at which XYZ (XYZ), trades at. If you believe the price will fall or you want it to be at a lower cost, you can place a limit-order. A limit order is when you want to buy a specified amount of Universe.XYZ at a particular price. Your order will only be accepted if the price for XYZ is lower than the stated price.
As you can see, trading XYZ on Coinbase is quite straightforward, and you can get your hands on Universe.xyz (XYZ) in a few easy steps.
CoinStats: Buy Universe.xyz
Connect your wallet to CoinStats and exchange your tokens for Universe.xyz. CoinStats has over 250 crypto exchanges, and more than 8,000 coins.
Follow our step-by-step guide to buying Universe.xyz (XYZ) on CoinStats:
Step 1: Sign in to CoinStats
In order to purchase XYZ you will need major crypto tokens such as Bitcoin or Ethereum. Log in to the website or create an account. Coinstats.appUse the search box to search for Universe.xyz.
Step 2: Click on Buy
Next, click on the “Buy XYZ” button in the website’s upper right corner.
Step 3: Connect your wallet
Navigate to the “swap” feature and connect your ETH or BTC token wallet. Click the “Connect wallet” button, and you’ll be given a list of CoinStats-supported wallets. Link your wallet. It is also possible to link it using WalletConnect’s QR Code scanner or by manually entering your Blockchain/Crypto address and wallet address into your mobile or web application.
Step 4: Pick the Token
Connect your wallet successfully and choose which token you want to trade by entering data in USD/EUR or cryptocurrencies.
For instance, we’re swapping ETHXYZ, or purchasing XYZ using ETH. If you can’t find XYZ in the swap, you can manually import it using the contract address.
In the “From” drop-down menu, select the ETH token from your wallet, and in the “To” field, select “XYZ.”
Step #5: Swap Crypto
To adjust the slippage and gas settings, go to “Advanced Options” and click the “Submit Swap” button when you’re done with customizing.
After submitting your swap request, you’ll be asked to confirm it. To start the swap, go through the information displayed on your web or mobile app page and click the “Confirm” button.
The transaction is currently in process. Gas settings will determine the speed of your transaction. You can track your transaction using the loader in the bottom right corner of the wallet’s main page.
NOTE: You’ll be charged Network Transaction fees, often known as gas fees required to perform a blockchain transaction. In essence, gas fees are paid in the network’s native currency, such as Ethereum for the Ethereum network. CoinStats may charge a small swap fee in addition to gas fees.
How do I store XYZ?
Once you’ve completed the purchase, it is time to put XYZ safely in a wallet. You have two options for wallets. Software Wallets are available and hardware wallets.
Software wallets
If you’re looking to trade XYZ regularly, software or hot wallets will be suitable for you. Software wallets come with an intuitive interface and are easy to use. Software wallets keep your keys online so they are less secure than physical wallets. But, because of their simplicity, beginners will be able to use them without any tokens.
Software wallets can include Trust Wallet and CoinStats Wallet as well as MetaMask Wallet and Coinbase Wallet.
Hardware wallets
Hardware wallets are devices that store the private keys required to send or receive crypto. A hardware wallet is the most secure way to store your cryptocurrency because it offers offline storage. This significantly lowers the chance of hackers stealing the data. The pin secures the wallet and erases all information after several failed attempts. This prevents physical theft. The hardware wallets allow you to sign and confirm transactions via the blockchain. This gives you additional protection from cyber attacks. This is a better choice for users who have accumulated a large number of tokens.
A hardware wallet is quite expensive, ranging between $50 – $250.
Ledger Nano X and KeepKey are some examples of cold wallets. With support for all blockchains, many languages and access to a broad range of tokens (ERC-20/BEP-20), Ledger hardware wallets can be considered the best.
How to sell Universe.xyz.xyz.xyz.
You can cash out your XYZ with the same exchange you bought from by following the same steps.
1. Log in to the Exchange account for XYZ.
You can compare cryptocurrency exchanges to determine where you want to put your Universe.xyz.xyz.
2. You can place a sale order.
Select the amount of XYZ that you would like to sell.
3. Confirm your transaction.
Confirm the price and other fees to complete the sale.
Closing Thoughts
Universe.xyz attempts to establish a fully decentralized ecosystem of NFTs. The key characteristics of Universe.xyz include data decentralization, smart contracts and DAOs.
XYZ has been down 72.60% over the last three months, and with its small market capitalization, such a price movement is likely to continue. However, three months is still considered early in the crypto world, and it’s also expected that XYZ price will bounce back as it has delivered what it promised in its Whitepaper.
Universe.xyz is a good investment for the long term.
Our website is also available. CoinStats blogFind out more wallets & exchanges, portfolio trackersExplore our detailed buying guides for how to purchase various cryptocurrency such as tokens and cryptocurrencies. Polygon: How do you buy it?, BNB buying guide, What is DeFi?, How to Purchase Cryptocurrency, etc.
Investment advice DisclaimerThis website contains information that is intended to be informative. It does not recommend you to purchase, sell or hold any security, financial product or instrument.
Because cryptocurrency can fluctuate so much, you should do independent research and seek your own advice. Only invest in what you are able to afford to lose. CFD trading, stock trading, and cryptocurrency trading can have serious risks. CFDs can result in losses between 74-89% for retail investors accounts. It is important to consider all aspects of your financial situation before you make any investments. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant regulators’ websites before making any decision.