Wanchain, the world’s premier decentralized blockchain interoperability solution, has announced a new feature to make NFT transactions between chains easier and more reliable.
Users can now use the Wanchain bridge to leverage its cross-chain bridge to carry out decentralized, non-custodial NFT cross-chain transactions between chains. These chains include Ethereum, Wanchain, Polygon, BNB Chain, and XDC Network.
NFTs are one of the most popular blockchain-based assets. From 2020 till date, these digital arts continue to expand in use cases and increase in popularity. Although the broad crypto market has taken a hard hit from the bear market, NFTs remain in a good position in terms of volumes and demand. But Wanchain’s announcement brings great ease to NFT enthusiasts. Wanchain is one of the safest bridges in the market and has announced several upgrades geared toward providing security. So, this new feature is bound to be unique.
How’s Wanchain Cross-chain NFT Bridge Different?
Until now, relying on centralized solutions was the only way to move NFTs outside the boundaries of a particular chain or marketplace. But Wanchain has brought in change. So, users can conduct cross-chain NFT transactions using Wanchain bridges. Cross-chain NFTs are simply NFTs that can move between different blockchains.
Most NFTs have specific characteristics, unlike fungible tokens like $USDT and other cryptocurrencies. These traits add an extra spice to NFTs. So, Wanchain bridges preserve the attributes of each NFT during the cross-chain process. This means that when an NFT is minted as a mirrored copy on the destination chain, it has the same properties as the parent NFT.
The Wanchain NFT bridge supports ERC721 and ERC1155 token standards and chain-specific variations. So, whenever you register a collection, the bridge is accessible to all individual NFTs. There is also no requirement for individual NFT registration.
Wanchain ensures that NFT bridges are as smooth as possible. So, the platform uses the same secure multi-party computation (sMPC) architecture that sets its interoperability solutions apart to execute NFT cross-chain transactions.
Moving NFTs across chains provide significant advantages over NFTs restricted to a single blockchain. Some of the benefits of cross-chain NFTs include
- exposure to the large NFT communities
- access to more NFT marketplaces
- promotes innovative NFT use cases
Some of the early cross-chain NFTs are
- DØP3 Club NFT (XDC Network, Ethereum, BNB Chain, Polygon)
- ZooGenes (Wanchain, Ethereum
Click on this release to learn how to complete a cross-chain NFT transaction on Wanchain.
Wanchain is promoting blockchain interoperability and making it easy for chains to connect. The latest update mirrors the platform’s goal of promoting blockchain adoption through interoperability and by building bridges.
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Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Wanchain. Copyright Altcoin Buzz Pte Ltd.
