• NFT marketplace Soonaverse is testing the migration of 45,000 NFTs to IOTA’s Shimmer platform.
  • The Shimmer network development encourages more NFT marketplaces to join the IOTA platform.

As IOTA’s staging network Shimmer prepares for a launch next week on September 28, there have been some interesting developments already on the platform. Adam from Soonaverse has tested the embossing of the NFT collection on Shimmer. The team plans to migrate nearly 450,000+ NFTs to the Shimmer platform.

In the latest update, Adam noted: “Embossing of collection on #Shimmer and its NFTs on #Soonaverse being tested! Time to Migrate 450,000+ NFTs on the Platform! 90,000+ of them sold and owned!”

One of the Twitter followers asked Adam how they handle the deposit. In response to that, Adam said that the creator of the NFT collection must pay for the storage deposit. He added:

If the creator chooses to use Shimmer, they must cover the deposit. They have received funds for it when NFTs were purchased. The creator gives the deposit as a gift. We decided to take this approach, otherwise we would have to introduce additional steps where NFT owners would have to claim the NFT (they supposedly own). That would be terrible UX. It will also result in many unclaimed NFTs forever.

The Soonaverse platform allows communities to build NFT marketplaces, decentralized autonomous organizations (DAOs), projects, companies, etc. by leveraging the emotionless infrastructure of the IOTA network.

Shimmer is a Layer-1 innovation network that seeks to advance the growth of emotionless and highly interoperable digital assets. The Shimmer staging network also serves as a validation basis for various innovations aimed at the IOTA network.

IOTA’s four major NFT marketplaces

The IOTA blockchain has been working on its native NFT ecosystem. Let’s take a look at some of the top four NFT projects running on IOTA.

  1. Soonaverse: As said, Soonaverse is a decentralized community platform that facilitates quick and easy setup of DAOs. Sonnaverse has successfully created its own IOTA NFT marketplace and is ready to migrate 45,000 NFTs. Key features of the Soonaverse NFT marketplace include timed auctions, collections, integration with DAOs, price history, etc.
  2. Pylon: this is another IOTA based NFT marketplace that comes with various features like multiple listing options, collections and minting tools. However, Pylon is yet to share the timeline for the launch.
  3. TangleSea: TangleSea will be the first decentralized exchange (DEX) to launch on the IOTA blockchain network. This platform will be deployed on IOTA’s assembly network by the end of 2022. TangleSea seeks to offer similar features to other projects in the DeFi space. It will have basic trading functions as well as a common DAO called Tabgle DAO.
  4. ShimmerSea: This is a sister project to the TangleSea team. ShimmerSea DEX will rest on IOTA’s Shimmer network and will likely launch before TangleSea.