📈 Fed's first cut since 2020: Time to buy the dip? See Tech-focused stock picksUnlock AI Picks

Unique Network rolls out dev tools for cross-chain NFT transfers on Polkadot

Published 18/09/2024, 10:12 pm
pDOTn/USD
-
pDOTn/USD
-

Investing.com - Unique Network is opening up the first developer environment for testing Cross-Chain NFT transfers (NFT XCM) within the Polkadot ecosystem. 

Developers and parachains can now test the functionality, which allows NFTs to move between networks, starting with Asset Hub and Unique Network.

Polkadot is advancing towards its Agile Coretime framework by enabling permissionless channel openings between system chains like Asset Hub, skipping the need for approval via Polkadot's OpenGov.

Polkadot's HRMP (Horizontal Relay-routed Message Passing) channels, which currently serve as the primary message transport protocol by passing all messages through the Relay Chain, are soon to be phased out in favor of the more efficient XCMP (Cross-Chain Message Passing) system. 

The concept of NFT XCM is to simplify the transfer of NFTs between different parachains, giving developers and creators more flexibility. The focus now is on simplifying the fragmented NFT ecosystem, helping to streamline NFT usage across Polkadot's many networks.

“As we advance NFT XCM technical capabilities, it’s critical to address the complexity and fragmentation within the ecosystem. We are now working on organizational bridges and aligning leadership across all NFT blockchains in Polkadot,” said Charu Sethi, chief marketing officer at Unique Network.

CEO Alexander Mitrovich added: "This milestone represents not just technical progress but the unification of an ecosystem. NFTs are no longer confined to one parachain; we’re building a future where they can flow freely across multiple chains.”

Unique Network is inviting developers and parachains interested in testing this feature to join the environment. There's also an opportunity for EVM (Ethereum Virtual Machine) teams to explore how this could work in their own projects.

This follows Unique Network's earlier announcement of its Cross-Chain NFTs Think Tank, introduced at the Polkadot Sub0 conference. The Think Tank seeks to find out new ways to use Cross-Chain NFTs, with major projects like Acala and Zeitgeist are already exploring integrations.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.