HomeGUIDEWhat is Xcad crypto?

What is Xcad crypto?

-

Follow us

11,347FollowersFollow

Notably, the crypto sphere has continued to wax stronger, courtesy of the rising number of protocols, assets, and other innovations greeting the space. Today, the crypto industry has cemented its place as one of the leading industries across the globe. According to findings, there are over hundreds of crypto protocols, each possessing native crypto. Apart from serving as an investment instrument, investors adopt native tokens of these protocols to pay transaction fees, and in most cases, to enjoy governance rights. Xcad crypto, for instance, is the native crypto of the Xcad protocol, serving as an instrument through which users of the network enjoy governance rights.

Worth noting that the general crypto space is highly volatile and thus requires investors in projects to be on their toes. However, despite the market volatility associated with the sphere, its level of popularity and adoption still grows daily. As of today, investors explore cryptocurrencies in almost all the countries of the world. Although, the method by which investors explore these assets differs and is determined by their respective priorities.

Irrespective of how investors harness cryptocurrencies, their most popular function is to serve as a medium of payment and investment, thereby relegating the traditional approaches to doing these things. Just like other forms of cryptocurrencies, the Xcad crypto remains one of the available crypto assets available for investors to explore within the sphere. With this article, new and existing investors will learn more about the rudiments of the crypto project, its background, and its potential.

Xcad crypto: An overview

Notably, Xcad crypto runs as the native token for the Xcad ecosystem. It serves as a veritable instrument for powering the Xcad DEX, Xcademy platform as well as its NFT marketplace. Additionally, Xcad crypto can be staked in the network’s content creator staking pools for the purpose of amassing rewards. Since the Xcad network runs by aiding the monetizing creators through the tokenization of YouTubers, Xcad crypto avails liquidity to the content creators tokens. According to findings, the Xcad crypto remains the only asset tradable for creators token on the ecosystem. Just like others, holders of Xcad crypto enjoys governance rights. This thus allow them to participate in determining milestones of tokenized creators on the network.

Xcad protocol

A brief assessment of the Xcad network, the native protocol of Xcad crypto, is imperative in this article. According to findings, the protocol runs as a De-Fi solution available for creators to accrue rewards. The creators do this by tokenizing YouTubers. The Xcad network aids this through its tokenized economy and marketplace. Additionally, the protocol possesses an education platform to orientate potential YouTubers. The trainees usually pay an already determined amount as subscription to the platform. According to the Xcad website, the education platform boast of “over 120+ videos, taught by some of the UK’s
biggest YouTubers.”

According to its whitepaper, the Xcad protocol manifested to make it easy for creators to break into the Youtube algorithm. With the protocol, they can consistently get views irrespective of the quality of the content. More so, the Xcad network allows flourishing YouTubers to seamlessly monetize their audience. This thus paves the way for them to further reward their most loyal supporters.Furthermore, the protocol enables fans of these creators to easily access NFTs in a retail user friendly method. Prior to the emergence of the Xcad network, there was no platform that enabled fans of creators to access NFTs. In Xcad, creators NFTs are integrated within an ecosystem.With Xcad, creators explore the value of the audience, thereby benefiting themselves. This, according to the whitepaper, helps to avail more markets and opportunities for monetization.

Xcad marketplace

As earlier asserted, the Xcad protocol possesses an NFT marketplace. This thus allows creators to easily mint their own unique NFTs. More so, viewers, through the marketplace, are allowed to trade the minted NFTs. According to the project’s whitepaper, the viewers purchase the tokens from creators via “a non crypto user friendly fashion.” However, they must use Xcad crypto in purchasing the exclusive creator NFTs. Also, whenever a viewer decides to resell the Creator’s NFT, the creator automatically get commission on the sale.

More so, viewers buy NFT “packs.” These packs, as designed posseses classic moments of creators. As reported, the moments by creators purchased as packs consist bronze, silver, gold and rare.Additionally, creators tie ownership of their exclusive NFTs to real world benefits. These benefits, according to the whitepaper include social media follow back and exclusive access to content. This, as reported, aids mass adoption as it enable “non crypto natives” to also participate with their fiat.

Features of Xcad crypto

Overall, most of the features of the Xcad crypto evolve around monetizing Youtube engagement. One of the factors that form the symbiosis of the Xcad crypto feature is its use of blockchain-oriented tools. These tools range from tokenization, trading and DeFi. Xcad crypto combines these tools to ensure that Youtube users make money from their page. Xcad crypto also supports content creators in building their pages. The platform utilizes the algorithms of Youtube to help content creators with smaller engagement to attract traffic to their page.

In building and monetizing engagement, Xcad crypto provides tools that will make a close relationship with content creators and their followers. Another notable feature about Xcad crypto is that it offers an educational program to nurture upcoming content creators. This program helps in educating emerging creators by providing them with classes and courses. Similarly, successful content creators on the platform provide classes and courses for upcoming creators. This educational program is referred to as Xacademy.

Also, Xcad crypto is the native currency for the Xcad ecosystem. This implies that Xcad crypto is utilized by the Xcademy platform, Xcad DEX. Similarly, Xcad crypto is the governance token of Xcad DAO. Xcad crypto has an Creator NFT Marketplace, the Marketplace allows content creators to mint their own NFTs. These NFTs can be purchased by their followers. However, they can only acquire the NFTs using Xcad crypo. The Xcad crypto marketplace followers to trade their NFTs with other users.

Factors militating against the growth of Xcad crypto and its ecosystem

Currently, the entire Xcad crypto ecosystem is still growing in relevance. The project is not widely known yet at the moment, and its restriction on Youtube has helped either. Lately, a content creator on Youtube has suffered a major setback. The social video-making platform has been facing tough competition recently. It’s battling it out with Tiktok, Instagram, Twitter, and Facebook regarding content creation. Therefore, making Xcad struggle for investors’ attention. This situation isn’t bring good tidings for Xcad crypto as well.

According to recent data by Shopify, Youtube has about 2.48 billion users which is short of facebook’s 2.94 billion. The likes of Whatsapp, Instagram, WeChat, and Tiktok come next with 2 billion, 1.44 billion, 1.29 billion, and 1.02 billion, respectively. This implies that the utilization of Xcad crypto seems limited to 2.48 billion Youtube users. Meanwhile, this doesn’t imply that a more significant percentage of Youtube users use Xcad crypto and its ecosystem.

Though a laudable innovation, but limiting the ecosystem of Xcad crypto to YouTube hasn’t helped the project grow swiftly. The Xcad crypto ecosystem will grow alongside the advancement of YouTube. This is due to the structural design of the ecosystem. As of late, YouTube is battling its competitors, and the gradual shift from Web 2.0 to Web 3.0 has been a stumbling block to its growth. These factors have thwarted its development, thus, affecting the Xcad network as well.

Utility issue for Xcad crypto

Since the central idea of the Xcad network is based on YouTube, there haven’t been many opportunities to utilize Xcad crypto. As stated earlier that Xcad crypto is used by the Xacademy, Xcad DAO, and XDEX, therefore, making it limited to the Xcad ecosystem. While the entire Xcad system is as well tied to Youtube, Utility has been a major issue for Xcad crypto.

On the project’s webpage, there is a schedule of the ecosystem’s road map for 2023. A closer look at the laid-out plans, it’s quite easy to tell that there are ongoing and proposed plans to push for the popularity of the project. The effort of the team to increase Xcad network popularity will surely aid more utility for Xcad crypto. It implies that the future of the project remains bright, but this future seems tied to the domination of YouTube in the social media space.

Future of the project

According to the Xcad team, the Xcad network has garnered the backing of prominent YouTube influencers and content creators. The team, on its webpage, indicates that more support from other content creators will come soon. This, coupled with its roadmap plan for the rest of the year, will push the Xcad crypto and its ecosystem forward.

Consequently, if things go as intended, more users will join the project while attracting more investors. The presence of these investors will amount to more influx of funds into the project. More funding for the Xcad network will facilitate more utility for Xcad crypto.

Read More :

Most Popular