What is AlienSwap?

Since the beginning of the blockchain, the concept of a unique token has enticed people. Since most tokens currently exist are fungible, NFTs have been created to act as a store of concept for artists. They can also be a collector’s item for digital art collectors.

The AlienSwap project was built to improve things in the NFT space. It was built on the AlienX blockchain for games and NFTs. So, it is properly optimized for creating NFT-related projects.

AlienSwap allows people to buy and sell NFTs. It also means anybody who’s a collector can trade for their prized collections on the platform. Whenever AlienSwap makes a profit, it shares this with its community.

History of AlienSwap

AlienSwap was founded in 2022, and little is known about its creators. It’s speculated that they are experienced professionals from leading companies in the blockchain and internet space. Since its creation, it has hit some significant performance milestones.

Since its start in 2022, AlienSwap has successfully completed two funding rounds. The first round was a seed funding round on June 8, 2022. Little is known about the amount they actually raised from investors.

The second funding round was a strategic financing round held on May 4, 2023. This time around, they disclosed the amount raised, which was $12 million. The investors here are major ventures like C2Ventures and OKX Ventures, among others.

Another milestone AlienSwap hit was its trading volume. By May 2023, the platform had achieved over $50 million in cumulative trading volume, which pushed it up and allowed it to set its place among the top NFT marketplaces.

Currently, AlienSwap is focused on scaling its operations and engaging its community through initiatives like the upcoming launch of its native token. Looking ahead, AlienSwap plans to introduce additional features that enhance user experience and further enhance its position as a leading NFT marketplace.

Features of AlienSwap: AlienSwap’s NFT Marketplace, Airdrop and Rewards Programs, Minting, Launchpad, Zero Gas Fees, and Multi-Chain Support

AlienSwap’s NFT Marketplace

Source: AlienSwap Website

AlienSwap is an NFT marketplace that allows users to buy, sell, and trade NFTs. The platform is easy to use and caters to casual collectors and professional traders, offering a user-friendly interface that simplifies the trading process.

The project differs from other traditional marketplaces by supporting bulk trading and batch listing, which enable users to transact multiple NFTs simultaneously.

AlienSwap integrates liquidity aggregation from various NFT markets. This ensures users can access the best deals regardless of where an NFT is listed. Liquidity aggregation enhances the trading experience by offering users more options and better prices.

Like most NFT marketplaces, AlienSwap’s interface shows the floor price and daily trading volume for each project. The exchange lists popular projects like Bored Ape Yacht Club, CyberPunks, Azuki, Mutant Apes, and more.

Unlike most exchanges, the AlienSwap exchange has a “Flash sell” feature. This feature allows people to list their NFTs, whether single or multiple and instantly sell them. The feature helps users find the best bids from multiple marketplaces to sell their assets within seconds after listing.

Minting

Source: AlienSwap Website

The minting feature on AlienSwap allows users to create their own NFTs easily. Tools like the CreateX tool allow users to create NFTs without extensive technical knowledge.

Creators are also rewarded according to their NFT collection performance on the marketplace. As minted NFTs are traded frequently, creators can accumulate points through the AlienScore system, which can be redeemed for future benefits or tokens.

CreateX

Source: CreateX Website

The CreateX platform is a no-code NFT deploying platform created by AlienSwap. The platform allows users to create and deploy NFT assets faster by simply filling out a form. The NFT collections can be minted as a single asset, or it can have multiple assets.

The platform’s form requires the user to fill in the name of the collection, the token, and the blockchain to which the NFT would be minted. The platform currently supports nine blockchains, including Ethereum, Mantra, Arbitrum, and others.

The creator would also need to supply individual images for each NFT asset. These assets can then be listed on AlienSwap for instant transacting.

Launchpad

Source: AlienSwap Website

Major NFT projects have a space specifically for new projects and developers. This space, called the AlienSwap Launchpad, allows them to showcase and launch their projects. It is usually packed with tools and resources specifically designed for NFT projects.

Creators who decide to use the launchpad first mint their NFTs, then set up their projects and promote them to the community. It is very important for these projects to receive some visibility and support from the community.

To qualify for the Launchpad, creators must meet two criteria. First, they must be about to launch a new NFT series for free/paid minting, and second, they need to have an active user community.

Zero Gas Fees

Source: AlienSwap Website

One of AlienSwap’s most innovative features is its Zero Gas Fees model. This feature means users can trade NFTs without incurring gas fees.

The zero gas fee structure benefits new participants in the NFT space who may be discouraged by traditionally high costs in marketplaces. It also helps improve liquidity within the marketplace by encouraging more trades and traders.

Multi-Chain Support

Source: AlienSwap Website

AlienSwap multi-chain support allows users to trade NFTs across various blockchain networks. Currently, the platform integrates with several leading blockchains, including Ethereum, Arbitrum, Optimism, Scroll, Base Mainnet, and Linea Mainnet.

This multi-chain functionality allows users to access more NFTs and participate in a more dynamic trading environment. Access to multiple blockchains makes it easier for users to find and trade diverse digital assets without being limited to a single platform.

AlienSwap’s Airdrop and Rewards Programs

Source: AlienSwap Website

Due to the project’s community-based goal, several airdrops and rewards programs have been implemented to encourage user engagement and participation. One of the project reward programs is the AlienScore reward system, which allows users to earn points through minting and trading activities.

Additionally, early users who buy or sell NFTs may qualify for exclusive airdrops related to the ALIEN token launch. The airdrop and rewards programs exist to reward existing users and attract new ones by creating buzz around the platform.

AlienSwap Interstellar 100-E Subsidy Card

The Interstellar card allows holders to enjoy zero fees when transacting on AlienSwap. This would drastically reduce the trading costs associated with NFT transactions. The card is available on Ethereum, Linea, Base, and Arbitrum.

To get the card, users would have to apply for a waitlist. It is only valid for 15 days and is non-transferable. Once someone gets it, they can only use it for personal transactions. These conditions would allow new NFT traders to conduct transactions without constantly counting gas fees.

Core Components of AlienSwap: AlienX Blockchain and Non-Fungible Tokens

AlienX Blockchain

Source: AlienX Blochain Website

The AlienX Blockchain is the backbone of the AlienSwap project. It is the foundation on which the project is built, and it provides a secure environment for NFT transactions.

AlienSwap also uses the AlienX blockchain to power its gasless feature, allowing users to mint and trade NFTs without incurring gas fees. By operating on the AlienX Blockchain, AlienSwap benefits from enhanced security and scalability, which are necessary for handling high volumes of trades in active NFT marketplaces.

AlienX is backed by a variation of the Arbitrum Nitro protocol stack. It employs a minimal trust model using what it calls “The Committee.” The committee is an external data storage facility with node members who provide data to the L2 nodes if they request it.

It assumes that at least two committee members would be truthful, reducing the cost of nodes and validators accessing the L2 data every single time. The protocol depends heavily on the data availability certificate or DACert, which stipulates the block hash, expiration date, and proof that the data was signed.

The DACert would determine the block’s validity and whether the blockchain would accept or ignore the associated data.

To create a DACert, a Sequencer posts the transaction data and the block hash to the committee members within a time limit. The committee members then accept the data, verify it, and send an acceptance signature, which would be used to create the DACert.

If the committee members don’t respond in time, the Sequencer will resort to a roll-up and post the full data on the L1 chain. Here, it will be accessible to all and immutable.

NFTs

AlienSwap is an NFT marketplace. So, NFTs are the foundation of the project’s infrastructure. The project is built so that users can create, mint, launch, and trade NFT assets.

What is the ALIEN Token?

The ALIEN token enables transactions and governance within the AlienSwap ecosystem. The token is not live yet, but an airdrop is expected for early users who engage with the platform by buying or selling NFTs.

Users have been encouraged to connect their wallets to their AlienSwap accounts to be eligible for the upcoming token distribution. The token’s launch would also unveil plans for ALIEN’s tokenomics.

Is the ALIEN Token a Good Investment?

The ALIEN token is the native cryptocurrency of the AlienSwap ecosystem. This project has been positioned as a major player in the NFT space, attracting strategic partnerships and the community’s interest.

The ALIEN token represents a promising investment opportunity for those interested in a community-driven project within the NFT ecosystem. With plans to expand multi-chain capabilities, the project will create a vibrant marketplace ecosystem from which investors and creators would benefit in the long run.

Risk Analysis

Advantages

AlienSwap offers several advantages that set it apart from traditional NFT marketplaces. First and foremost, its community-driven model ensures that 100% of revenue is returned to users through rewards.

Another advantage is AlienSwap’s multi-chain support, which allows users to trade NFTs across various blockchain networks.

Additionally, AlienSwap has introduced features that allow users to mint and trade NFTs without incurring gas fees. This lowers transaction costs, making it easier for creators and collectors to participate in the marketplace.

Disadvantages

Despite its advantages, AlienSwap faces several disadvantages that may impact its growth and user adoption. One such concern is the issues associated with multi-chain support and transactions. This can create confusion for users unfamiliar with navigating different blockchain ecosystems.

Users may also face challenges surrounding wallet compatibility, which could discourage some potential participants from fully engaging with the platform.

Challenges

AlienSwap faces some challenges in the competitive NFT market. One primary challenge is market volatility, which affects all cryptocurrency-related projects.

Fluctuations in NFT demand can lead to inconsistent trading volumes and reduced user engagement levels. This volatility can make it difficult for AlienSwap to predict revenue streams and effectively plan for future developments.

Another significant challenge is regulatory scrutiny surrounding cryptocurrencies and NFTs. Regulatory changes could impact how the platform operates or engages with users, potentially affecting user trust and participation.

Competitive Analysis

Blur and AlienSwap are both projects within the NFT marketplace ecosystem. They target different aspects of NFT trading and community engagement.

Blur is a decentralized NFT marketplace designed primarily for professional traders. It offers advanced features like real-time analytics, bulk buying, and portfolio management. AlienSwap focuses on creating a community-driven NFT marketplace that emphasizes decentralization and user rewards.

Additionally, Blur focuses on feeless transactions and crypto lending using NFTs as collateral, while AlienSwap emphasizes gasless transactions, revenue sharing, and decentralized governance.

How Can You Own ALIEN Tokens?

Users can follow a simple process to own ALIEN tokens and become a part of the AlienSwap ecosystem.

Setup a Wallet

One way to own ALIEN tokens is to purchase them through an exchange. For this, the user must create a Gate.io account, complete the KYC process, and add funds to the account to buy the token.

Utilize the ALIEN Tokens

Once users have acquired ALIEN tokens, they can explore the AlienSwap ecosystem by participating in governance.

Useful References

For the latest updates about the AlienSwap ecosystem, visit:

• Official Website
• Twitter
• Telegram

Take action on ALIEN

Learn more about the AlienSwap project on Gate.io.