Exnetwork Breaks Barriers Between Blockchains with XP.network
Exnetwork announces its investment in XP.network, an ecosystem centered around a multi-chain bridge for minted NFTs. The platform allows NFTs to flow freely across networks, tearing down the barriers between blockchains. XP.network helps connect dApps, token minters, traders, and owners, as well as builds the foundations for a single global NFT market. Its platform is built to experiment with and deploy NFT DApps on different chains including Facebook’s Diem, Polkadot, Ethereum, and more.
The Lack of Liquidity in NFT Communities
The NFT industry has been expanding rapidly, with weekly sales growing from $2.3 million in January 2021 to $1 billion in August, while the number of active wallets increased from 6,000 to 70,000. The process is accelerating as hundreds of NFT projects pop up on other blockchains, such as Binance Smart Chain, Solana, and Avalanche, where minting fees are far lower than on Ethereum.
However, emerging NFT communities on these alternative blockchains suffer from a lack of liquidity. Being limited to a single chain, these promising NFT projects — and NFT holders — miss out on countless opportunities.
This is where XP.network comes in. The platform solves this issue by making it possible to transfer an NFT from one blockchain to another 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 Avalanche can be sent to Ethereum and listed on OpenSea — something that hasn’t been 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.
Watch this quick explainer video below:
XP.network gives non-tech founders the power to create great NFT apps without writing any code, deploy them on any blockchain, and migrate the apps as needed. The company also plans to integrate the platform with 20+ blockchains, including Ethereum, BSC, Cardano, and Polkadot.
Get the latest news and updates from XP.network:
Website: https://xp.network
Telegram: https://t.me/xp_network
Telegram Ann: https://t.me/xp_network_ann
Medium: https://xpnetwork.medium.com
Twitter: https://twitter.com/XPnetwork_
Reddit: https://www.reddit.com/r/XP_network
Discord: https://discord.gg/D7MupcvP
Facebook: https://www.facebook.com/XPnetworkOfficial
YouTube: https://www.youtube.com/channel/UC5KGVEkRzZ2XE4A-4XBceqg
Get to know Exnetwork Capital
Exnetwork is Philippines’ #1 crypto fund with strong ties to every major geographical crypto community in the world. It’s exceptional network include several DAOs, telegram communities, a leading validator, incubator, idea labs, gaming guilds and growth agency.
In 2021, we’ve seen an incredibly strong period for innovation at Exnetwork Capital, with a barrage of creative projects developed by builders, early adopters, and visionaries all looking to develop the next big thing in crypto. Exnetwork Capital aims to invest in a diverse group of projects that will surely disrupt the market.
Website: http://exnetworkcapital.com/
Medium: https://medium.com/exnetwork
Telegram: https://t.me/exnetworkpublic
