This means wider exposure for NFT creators, better liquidity for asset holders, and increased transaction flow for the bridged blockchains. For example, an NFT minted on Tezos can be sent to Ethereum and listed on OpenSea. A move that was not possible – until now.
Today, XP.network, a company that provides multi-chain support for NFTs, announced an integration with the Tezos blockchain.
With this integration, Tezos will utilize XP.network’s multi-chain bridge into its constantly growing arsenal of features, expanding its reach across the global cross-chain ecosystem.
XP.network has created a multi-chain bridge for NFTs. It tears down the barriers between blockchains, allowing digital assets to flow freely across networks. By doing so, XP.network is building the foundation for a single global NFT market by connecting creators, traders, and owners.
The NFT solution proficient company has set its goal to make digital assets transfers between blockchains easy and accessible. A need proved crucial for this technology to be adopted by a broader range of users.
To achieve that goal, XP.network has created the first multi-chain NFT bridge. A cross-chain solution that enables digital assets to flow freely between chains.
This groundbreaking tool is already being utilized on several NFT platforms and is on its way to turning the entire blockchain ecosystem into the global village it can be.
To use XP.network’s NFT bridge, click here.
Emerging NFT communities on alternative blockchains sometimes shoulder liquidity issues. By being limited to a single chain, promising NFT projects – and NFT holders – may miss out on countless opportunities.
XP.network bridges the gap by making it possible to transfer an NFT between blockchains in seconds at a minimal cost.
This means wider exposure for NFT creators, better liquidity for asset holders, and increased transaction flow for the bridged blockchains.
For example, an NFT minted on Tezos can be sent to Ethereum and listed on OpenSea. A move that was not possible – until now.
The bridge combines high scalability with superior security. It works by creating wrapped NFTs that preserve the original assets’ metadata without duplicating the assets themselves.
The original NFTs are safely stored in custody and can be restituted to the holder if needed.
Nir Blumberger, CEO of XP.Network commented:
“When we just started our way, XP.network knew that Tezos is a company we want on our side. We believe this ecosystem is the benchmark many blockchains should aspire toward. We are honored and excited to see what the future holds for this partnership.”
XP.network chose to integrate with Tezos because of its industry-leading energy efficiency and constant innovation. As one of the first blockchains to adopt the proof-of-stake consensus method, Tezos has evolved into an increasingly popular alternative to several major POW-based options.
Tezos has created an ecosystem of thriving NFT marketplaces, dApps, tools, and games that offer a wide variety of digital assets with very attractive and affordable fees.
Elie Terdjman, Founder, Tezos Israel added:
“We are very excited about the Tezos integration into XP.network’s bridge. We are very optimistic about their technology, and their diligent development team has ensured that they will be the premier cross-chain bridge.
Tezos Israel had the honor of working with the XP.network team over the past few months in assisting them with this integration. We are looking forward to seeing what’s on the road ahead for Tezos and the XP.network.”
In 2021, Tezos emerged as the premier blockchain to mint, host, and trade environmentally clean NFTs because of its low energy consumption, fractional gas fees, and institutional-grade security.
Among the brands and organizations working with Tezos are notable brands like The Gap and Ubisoft, NFT platforms like Rarible and OneOf (which boasts artists like Doja Cat, John Legend, Pitbull, and more), and even the Formula 1, Honda, Red Bull, and McLaren racing teams – All of which trust the Tezos platform to build their fan engagement platforms and deliver for their users.