Key Highlights
- CXIP Lab announced the launch of a decentralized autonomous organization (DAO).
- Pharrell Williams, visual artist Jen Stark, and Justin Aversano are part of the advisory council.
- One can mint NFTs on CXIP DAO through simultaneously launched CXIP tokens.
Software development company specialized in NFT API integration, CXIP Lab announced the launch of the CXIP decentralized autonomous organization (DAO) to let creators govern and watch over the future of the NFT market instead of other marketplaces such as Opensea and Rarible. It also includes some famous faces in the advisory council such as Pharrell Williams, visual artist Jen Stark, and Justin Aversano.
As per the Opensea NFT marketplace, Justin Aversano’s NFT collection Twin Flames has generated an $18.4 million trading volume.
CXIP was introduced in 2020 with three new concepts, making sure they get paid royalties for NFT sales, allowing creators to own the smart contracts they use to move their tokens, and ensuring the digital assets don’t get lost.
CXIP founder and CEO, Jeff Gluck said “Minting an NFT should not be difficult, and creators should not be tied to a specific marketplace or service provider to do it,” Gluck said in a press release. “Minting should be a free and open action.”
CXIP also gave words to creators to “receive what they are rightfully due” without middlemen or registries, “true to the blockchain and Web3 spirit.”
Moreover, the DAO will oversee the NFT marketplace, via the simultaneously launched CXIP token. Also, this launch is trying to grow its members across the community in two ways. The first way is by adding famous celebrities Williams, Aversano, and Stark, contemporary artist Daniel Arsham, and artist and pro skateboarder Chad Knight will serve as advisors, along with Gluck.
Secondly, “every creator who has ever minted an NFT on [Ethereum] will be able to claim $CXIP Tokens and join the CXIP DAO.”
Also Read: CXIP Labs Raise $6.5 M in Funding Round to Launch Hologram
