Next-Gen Cross-Chain NFTs: Muon’s New MRC-721 Token Standard
Giving NFTs superior cross-chain functionalities, enabling cheaper minting, and improving compatibility within the Metaverse.
Interoperability and extended utility is key for modern NFTs. Muon’s new MRC-721 token standard elevates existing NFTs by allowing them to freely move between chains, easily launch on new chains, and secure its value in the process.
Current challenges in the NFT space
With $63 million racked up in sales last month, the NFT space continues to grow at a rapid pace. However, despite their astounding success, they’re still experimental and face growth challenges.
Blockchains are struggling to keep up with the growth of the NFT space, with high demands leading to high gas costs, network congestion, expensive minting, lack of interoperability, and difficulties in launching newer projects.
Considering how NFTs have been pivotal in the development and adoption of the crypto space, it’s important these issues are solved.
The Muon Solution: Unlocking NFT Potential with the MRC-721 Token Standard
The MRC-721 token standard is Muon’s innovative solution for creating next-gen, cross-chain NFTs with enhanced functionality and convenience.
By adopting the Muon MRC-721 token standard, NFT projects unlock extended features such as cross-chain and cross-game capability, increased interoperability with a larger range of chains, cheaper minting, and more. Integrating the MRC-721 standard gives 100% customizability to NFT project developers on how they design their features, but with the added cross-chain features/benefits of Muon.
The MRC-721 standard will play a critical role in making the NFT environment more inclusive and accessible. Facilitated by its integrated permissionless NFT bridge, Muon can provide the infrastructure for current partners, upcoming projects, and users to access an improved cross-chain token standard. It presents a clear opportunity to adapt away from dependency on the Ethereum mainnet for expensive functions, and to take advantage of cheaper, more user-friendly environments without having to disconnect from Ethereum’s large community and liquidity base.
MRC-721 in Action: Fear Wolf
FEAR’s flagship NFT launch, the FEAR Wolf, will be one of the many public displays of Muon’s new MRC-721 token standard.
By integrating MRC-721, The FEAR Wolf NFT gains additional capabilities and in-game perks such as cross-chain and cross-game functionality, cheaper NFT minting/generation, governance participation, and early-access to upcoming prospects from the FEAR platform.
By taking advantage of Muon’s technical enhancements, they have a much greater scope of audience they can capture within their ecosystem, and having the ability for users to move their NFTs to preferred chains presents a major selling point for the Wolf project.
Muon is a decentralized node network enabling applications to run on-chain, off-chain & cross-chain. Its technology allows for projects to build customizable web3 solutions that enable possibilities beyond the existing constraints of blockchain.
Learn about Muon here.