MINTED WITH CXIP
Introducing Best-In-Class Standardized NFT Minting Technology
FOR CREATORS. BY CREATORS.
Each NFT marketplace currently uses their own primitive version of minting. A flawed and fragmented structure seemingly designed to discourage cross-market compatibility. Walled gardens in disguise.
Royalties, for example, will only accrue if the NFT stays within the originating marketplace. If a creator mints and sells an NFT on Marketplace A, and the buyer resells it on Marketplace B, the creator’s royalty is not automatically distributed.
This fundamental flaw, along with several others, motivated us to build CXIP as standardized marketplace-agnostic NFT minting technology. CXIP is a foundational grassroots movement towards better NFT minting, offering cutting edge innovations designed to establish standards and safeguards to protect and empower creators.
CXIP MINTING FEATURES:
- Creator-Owned Personal Smart Contracts
- Cross-Market Royalties
- Authenticated Provenance
- Double Layered Permanence with IPFS + ARWEAVE
- Copyright Protection
- Carbon-Offsetting with AERIAL
- Marketplace Agnostic
Jen Stark, Drip Cascade NFT, for Phillips. Minted with CXIP.
The Haas Brothers, Academy Awards Museum NFT. Minted with CXIP.
Better NFT Minting, For All.
CXIP allows all creators and enterprises to mint top of the line verified NFTs using personal smart contracts with perfect provenance, cutting edge cross-market royalties, guaranteed metadata storage, and carbon offsetting. CXIP’s easy UX/UI empowers creators to mint their own NFTs in less than a minute with a few simple clicks. Enterprise users can access our API/SDK plug-in and seamlessly white label our minting solution.
CXIP Minting Technology Features:
1. CROSS-MARKET ROYALTIES
As described above, broken NFT royalties are one of the biggest flaws plaguing the ecosystem. Thousands of creators were lured into the NFT space with the holy-grail of promises — the ability to collect royalties on secondary sales. But in reality, this promise was a mirage. As explained above, royalties only accrue if the NFT stays within the originating marketplace. Once it leaves and becomes resold into a different marketplace, the royalty system breaks. Millions of dollars in rightful NFT creator royalties remain uncollected, undistributed, and essentially lost forever. This would never be acceptable in any other industry.
EIP-2981 is an interesting proposal for a universal royalty system, but it would render pre-existing contracts and tokens redundant. Others have called for a ‘royalty registry’ which encourages marketplaces to use a lookup system, but we can’t rely on all marketplaces to agree. So we fixed it, for good. CXIP is the first minting platform to introduce cross-market automated resale royalties.
CXIP developed an ERC1155 / ERC721 compliant smart contract called “PA1D” using innovative logic that can respond properly to each marketplace’s request for royalty information. PA1D stores and converts creator royalty information into a format and response that each marketplace can understand, ensuring a guaranteed payout across all marketplace borders. The mechanism keeps up to date with the logic rules and configurations of each marketplace, ensuring the creator contract relays and receives proper royalty information to and from each marketplace. This guarantees full collection and distribution of a creator’s resale royalties for the lifespan of the NFT, regardless of where it goes. Creators can use PA1D simply by minting their NFTs on our platform.
This innovation solves the resale royalty issue and should become standard across all minting services. We encourage every NFT marketplace to use our API and adopt this new standard so that we as a community can guarantee that creators will always be properly paid.
2. AUTHENTICATED PROVENANCE
One of the biggest issues for NFTs, especially art, has been provenance. Provenance serves as the record of creation and ownership, a guidepost for authenticity. Because most of the popular marketplaces mint NFT to a ‘marketplace omnibus wallet’ instead of minting to the individual creator’s identity, the provenance for millions of existing NFTs is improper and nearly impossible to authenticate the difference between real and fake.
Historically, creators have always been the manufacturers of their own creations, not the marketplaces. But with NFTs, marketplaces have just been using creators’ names and minting NFTs for them. That makes no sense.
If you purchase a Rolex, the serial number will indicate that the watch verifiably originated from Rolex. That is proper provenance. You would not want the serial number to say the watch was made by “watch shop.” But right now, millions of NFTs say that they were created by a marketplace. From a creator’s perspective, you would not want provenance to show that a marketplace created your work. From a collector perspective, NFTs will hold more value if they have real provenance tied directly to the creator’s identity, instead of some random NFT marketplace.
Many in the space have tried to address this by designing bespoke creator-owned NFT smart contracts. But they are expensive, time consuming, and have only been made available to celebrities and the top 1% NFT creators, which sharply goes against the ethos of this community. They have also been incredibly expensive to deploy.
CXIP democratizes this concept, and provides a step towards frictionless creator-owned NFT smart contracts for everyone, instantly. CXIP is creator-minted NFTs, at scale.
CXIP mints every NFT to an individual creator’s identity on-chain that we establish, with every NFT ‘signed’ by the creator using wallets or verified proxy-wallets. Not only does this create authenticated provenance for every NFT, but it also gives every NFT creator an established identity on-chain where they can mint and store all of their NFTs, across all marketplaces. Think of it as a creator’s on-chain portfolio for all of the NFTs they create, forever.
This also empowers market participants to detect and prevent counterfeits by being able to track the provenance chain for every NFT. Large marketplaces like OpenSea are being bombarded with fake collections and creators have reported a difficult and long process to have the fake work removed. Moreoever, because platforms like OpenSea provide their own internal minting services, the DMCA (Digital Millennium Copyright Act) may not shield them from legal liability for these infringements. Another compelling reason for marketplaces to adopt CXIP, use the API, externalize their minting to diminish their legal exposure, while also curbing the rise of fake NFTs.
3. DOUBLE LAYERED NFT PERMANENCE
NFTs often have metadata, code, and digital assets stored off-chain on centralized servers. If the marketplace that minted the NFT goes out of business, and the centralized server goes down, the NFT could become deleted and lost forever, becoming entirely worthless to the end-user.
For NFT collectors, purchasing NFTs that do not have any permanence incredibly risky. Floor prices could plummet for NFTs that are minted without any permanence solution. These collectibles are not good investments. Some marketplaces send the information to IPFS, but it still remains at risk of being lost forever if the nodes stop storing or sharing data.
For this reason, we employ gold-standard double layered NFT permanence. For every NFT minted with CXIP, we seed the information to both IPFS and Arweave, ensuring that every NFT will be stored permanently on multiple decentralized servers. This is like insurance for your investment, and an extremely important feature that all NFT collectors should demand as an industry-wide standard across all marketplaces. Every NFT minted with CXIP receives a perfect asset score on CheckMyNFT.com. For those who are familiar with physical collectibles and grading, CXIP generates“Gem Mint 10” NFTs.
4. COPYRIGHT REGISTRATIONS
In 2019, the U.S. Supreme Court ruled, for the first time, that creators are required to register their work with the U.S. Copyright Office in order to have legally enforceable rights. If you do not register, you cannot enforce your rights or recover any monetary damages related to an infringement.
Copyright registration is currently the only legally recognized mechanism for creators to protect their work. Any platform offering protection with ‘blockchain registrations’ or ‘blockchain certificates’ is essentially trying to sell vapor. As it stands, blockchain is still not legally recognized in many courts. Anything short of an actual copyright registration will not afford any actual legal protection or recongizable benefit.
Because copyright registration is a fundamental protection mechanism for creators, especially in the NFT space where infringements happen frequently, it was paramount for us to integrate a feature that empowers creators to protect their work. CXIP includes the option for creators to seamlessly apply their work for copyright registration during the minting process (or anytime after) giving creators the opportunity to truly protect their work the moment they mint it.
5. CARBON OFFSETTING
Controversial and polarizing is how we can best describe the feelings surrounding NFTs and their environmental impact. Some say it’s an inaccurate argument, and others who believe it say it’s a dealbreaker. New blockchains have launched based entirely on the premise that their impact is carbon-neutral, and some NFT artists and marketplaces have even been sidelined with backlash for participating in what is perceived as an environmentally harmful industry.
However you stand, the issue is here to stay and we wanted to address it. We are launching CXIP Minting on Ethereum as our first chain. ETH still controls more than 90% of current NFT market activity. We integrated Aerial’s carbon offsetting tool directly into the minting process to give creators the choice to add it on, or not. Marketplaces looking to nullify this controversy can instantly enable this carbon offsetting option for all of their users with our API.
WE’RE LIVE! START MINTING!
Already in use by some of the world’s top creators, we are thrilled to announce the official beta launch of creator minting on cxip.io, empowering all creators to easily mint NFTs, receive best-in-class features, enable royalties, and seamlessly list NFTs for sale in any marketplace. Creators are no longer beholden to marketplaces as the only place to mint NFTs.
Our enterprise API is also available for NFT marketplaces to instantly upgrade their minting to this new standard and provide all of our enhanced features to their users. Our API also enables any existing e-commerce platform to start minting and selling NFTs. Plug & play Web3 capability, instantly, for everyone.
Visit our Discord for invite codes & follow our Twitter for news and updates.
Special thank you to everyone helping us bring this vision to life including: Daniel Arsham, Lesley Silverman, Mechanism Capital, Wave Financial, Arca, GMoney, Andy Chorlian, Larry Cermak, Lars Hoffmann, Kerve Capital, Namdar, Jen Stark, Infinite Objects, Arweave, and Courtside VC.
Better NFT Minting, For All.