Phantasma Chain Swaps With Ethereum

Lee Kai Lee
Apr 21, 2020 · 2 min read

Dear Souldiers,

The aim of our team is for Phantasma to become the one-stop blockchain for all your daily purposes and interactions. We are laser focused to achieve this goal and are closer than ever. However, to achieve this goal it is necessary to welcome the biggest and best blockchains there are in the crypto space to the Phantasma ecosystem. Chain swaps between NEO and Phantasma is already live, as it was a necessity to launch the blockchain.

The next blockchain to be introduced to chain swaps is Ethereum, date TBD. Ethereum and certain other coins will be swappable to Phantasma and able to be spent within the Phantasma ecosystem. Since the chain swap works in both directions, we are going to introduce an ERC20 SOUL token. The major benefit is that it allows Phantasma to penetrate the Ethereum ecosystem, markets and DEXs. This way, Phantasma can leverage the ecosystem of Ethereum dApps for collaborations. Thus, the chain swaps between Phantasma and Ethereum is ranked high on our priority list at the moment.

With the launch of the Ethereum chain swaps in the future, we are happy to share that non-fungible tokens (NFTs) will also be swappable (although not on launch). This would mean that any Phantasma NFT is swappable to the Ethereum blockchain and can be traded on Ethereum NFT marketplaces, spreading awareness of games fueled by Phantasma while making Phantasma NFTs easily accessible to more potential buyers and traders. As a result, Ethereum users can swap their NFTs to Phantasma and use Phantasma marketplaces and our low transaction fees for trading. Alongside the fact that NFTs, as long as the game designers allow it, can be utilized to become playable items in different games… this includes games on other blockchains! NFT interoperability at its finest!

We are looking forward to share more updates, as well as looking forward to all the updates regarding 22 Racing Series and Pavillion! Exciting times ahead!

PhantasticPhantasma

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