XTalks: A Special Edition with Layer One X and Shufl_App
Kody, the Chief Experience Officer (CXO) at Layer One X, kicked off the episode.
He welcomed viewers to a special edition of XTalks, sponsored by L1X, a layer-one blockchain protocol. The episode featured an exciting partnership announcement with Shufl Labs, and Cody encouraged the audience to share the stream across platforms like YouTube, Twitter, Discord, and LinkedIn. The focus was a candid conversation with Benji, founder of Shuffle Labs, about their collaboration to create the first native multi-chain NFT marketplace.
Introducing Benji and Shuffle Labs
Benji introduced himself as the Founder of Shufl Labs, the parent company behind multiple projects. Starting as an NFT project in 2021, Shufl Labs built the largest NFT collection on the Algorand blockchain. In 2022, they launched Shuffle App, an NFT marketplace, which is central to the L1X partnership. Additionally, Benji highlighted his passion project, Treef Fund, a Web3 environmental impact fund that uses NFT sales, donations, and DeFi yields to plant trees and support global environmental missions. He expressed excitement about leveraging L1X’s technology to make a multi-chain NFT marketplace a reality.
The Vision: A Multi-Chain NFT Marketplace
The discussion dove into the groundbreaking potential of a multi-chain NFT marketplace. Benji shared his long-held vision of a platform where users can transact with any wallet, buy with any coin, and access NFTs from any blockchain. He noted how crypto’s tribal nature creates isolated ecosystems, and a multi-chain approach could unite communities, reduce friction, and make NFTs more accessible. Kody added that L1X’s tech could enable features like royalty tracking across chains, addressing issues like OpenSea’s removal of creator royalties.
Benefits for Creators and Collectors
Benji outlined the long-term benefits of a multi-chain marketplace. For collectors, it removes barriers like setting up new wallets or bridging funds, making NFT purchases seamless. For creators, it expands their total addressable market beyond a single chain’s ecosystem, like Algorand’s smaller audience. Both agreed this could drive mainstream adoption by reducing friction and increasing exposure, though the full potential remains uncharted as the technology evolves.
Tackling NFT Liquidity and Perception
Kody asked if a multi-chain marketplace could shift perceptions of NFTs as illiquid assets compared to fungible tokens like meme coins. Benji believes it will help by expanding the market size, making NFTs more tradable. He also proposed innovative ideas, like pairing NFTs with fractional tokens in liquidity pools, allowing users to swap between NFTs and tokens. This could bridge the gap between high-value NFTs (e.g., CryptoPunks) and accessible fungible tokens, enhancing liquidity and appeal.
Personal NFT Experiences
Benji shared relatable struggles, admitting he’s missed NFT sales due to chain mismatches or insufficient gas fees—issues L1X aims to solve with its cross-chain gas token. He also recounted a rewarding experience: his Algorand community raised $80,000 in 24 hours to collectively buy an Ethereum Ape NFT in late 2021. As the trusted founder, Benji executed the purchase, a memorable moment of community trust despite the financial loss over time.
Maintaining NFT Project Value
Addressing how multi-chain marketplaces affect NFT value, Benji emphasized that success depends on creators building real businesses beyond royalty reliance. Projects like Pudgy Penguins thrive by creating genuine value, not just NFT hype. A multi-chain approach won’t dilute value for strong projects—it amplifies their reach—while weaker ones won’t be saved by it alone.
Shufl’s Structure and Focus
Benji explained Shufl’s past structure on Algorand: enforcing 5% royalties, redirecting fees to a community DAO, and supporting Treef Fund with a “1% for the planet” model. On L1X, this ethos continues, though separate from their Goanna NFT collection. The marketplace will focus on supporting creators with free mints, onboarding pipelines, and marketing support like webinars and spaces, aiming to kickstart L1X’s NFT ecosystem.
Tips for Aspiring NFT Creators
As a creative himself, Benji advised wannabe NFT superstars to prioritize high-quality, unique art that reflects their brand. He encouraged innovation with L1X’s tech to push boundaries beyond derivative “Punks and Apes” clones, urging creators to stand out and evolve the space.
Setting a New NFT Standard
Benji envisioned the partnership setting a new standard by enabling instant multi-chain distribution at minting and seamless buying across all chains with any coin. Beyond traditional PFPs, he sees NFTs expanding into real-world assets (e.g., tickets, ownership), powered by L1X’s frictionless tech, potentially creating tailored marketplaces for diverse applications.
Expanding Beyond Art NFTs
While currently art-focused, Benji confirmed Shuffle App will evolve based on community demand, potentially supporting utility NFTs (e.g., DAO ownership, gaming assets). He sees a future split between pure art (like one-of-ones) and utility-driven NFTs, with gaming as a promising frontier where white-labeled marketplaces could thrive.
The Perfect Marketplace in Five Years
Looking five years ahead, Benji imagined an NFT marketplace tokenizing real-world assets (e.g., hats, cars) with seamless digital-to-physical redemption. He predicted a shift from traditional UIs to embedded trading on social platforms like Twitter or Telegram, meeting users where they are with instant, secure transactions.
Community Questions:
Algorand Connection
A viewer asked if L1X will connect to Algorand. Benji hopes so, leveraging Shuffle’s Algorand ties, though it requires protocol-level integration. Kody confirmed L1X’s goal to unite all chains, with developers simplifying onboarding, suggesting Algorand support could come soon.
Onboarding and Brands
Deb Jones inquired about onboarding projects on Shufl_App and supporting brands like Nike with utility NFTs. Benji said a contact form will launch within weeks, and the platform’s accessibility to all users makes it ideal for big brands entering Web3, a focus Shuffle Labs has experience with.
OG Collection
Crypto Psycho asked about the L1X-Shufl OG collection. Benji suggested a free mint to ensure fairness, proposing a community competition or simultaneous launches to decide the first collection, possibly themed around L1X’s Power Ranger-loving community.
Social Media Trading
Deb Jones asked about embedded trading on X or Discord, like Solana’s Blinks. Benji loved the idea of clickable NFT listings across platforms, though security (e.g., trusted URLs) needs addressing. Kody noted this could extend beyond Shufl to L1X App or wallet.
NFT Loans
Benji detailed Shufl’s Goanna Bank, where holders stake NFTs for loans—initially zero-interest, now with interest and token rewards benefiting the DAO treasury. He sees Layer One X’s cross-chain tech enabling cost-efficient loans for high-value Ethereum NFTs.
Partnering with OpenSea and Magic Eden
Chaos 77 asked if Shufl could list NFTs from OpenSea and Magic Eden without direct listing. Benji (non-technical) speculated pulling listings in is easier than pushing out, aligning with the interoperable vision. Kody favored minting on L1X for automatic multi-chain deployment, reducing complexity.
Closing Thoughts
Kody and Benji wrapped up, thanking the enthusiastic community. Benji invited feedback via Twitter and Discord, promising open DMs. Kody hinted at a pre-launch AMA to preview OG collections or competitions, excited for the partnership’s future.
