The first NFT marketplace for multi-chain and multi-chain games
As it turned out, in 2022, the way to measure financial stability was not gold, stocks or even Bitcoin. Now the baton is proudly carried by a digital resource called NFT. The non-fungible token is a buzzword in today’s world of crypto markets and technology. NFTs are unique cryptographic digital assets that exist on the blockchain network and represent unique digital assets that cannot be reproduced, duplicated, counterfeited or replaced. Since their appearance, non-fungible tokens have gone through several stages of evolution. Initially, they were used by society as fuel for physical works of art: paintings, audio files, videos, films, architecture, etc. Later, video games were added to this list. Their synthesis with NFT made the technology give birth to something more – that’s what the entire GameFi industry looked like.
To understand the value of NFT technology, you need to consider not only its technical capabilities, but also its overall capitalization. The so-called marketplaces, engaged in buying, selling, exchanging, minting and other operations, played a leading role in creating demand for NFTs. For example, according to the popular resource DappRadar, the total market value of non-fungible tokens was 12 billion dollars. And this takes into account the general fall of ETH by the end of 2021. At the moment, the majority of all NFTs (almost 90% of the total layer) are in the Ethereum network. First of all, this is due to the ability of this cryptocurrency to create secure smart contracts, based on which the non-fungible token technology is built. Of course, there are also compelling drawbacks, such as the high prices for NFT maintenance on the network, high gas fees, and the limitation of chain trading.
Realizing all the needs of the market, many developers and crypto-enthusiasts are looking for opportunities to reproduce NFTs on different networks. It will allow users to switch between multiple markets and use different networks. Additionally, there is an opportunity to mint your non-fungible tokens using your network. This concept is called cross-chaining or multi-chaining. The creation of such markets will be a powerful driver for the development of NFTs and their involvement in most areas of our lives. In addition to increasing interoperability, this makes them more sustainable, increases security and reduces the influence of centralized companies on technology.
Multichain and Cross-chain NFT marketplace explained
As we wrote earlier, the cross-chain NFT marketplace is a specialized platform on the blockchain that allows you to perform all financial transactions with a different set of non-fungible tokens and their collections. Unfortunately, most modern platforms do not support the possibility of multi-chain transactions and manipulations related to NFTs. I will have marketplaces and support cryptocurrency of various networks cross-chains and multichain are just beginning to develop in such markets. And it is not surprising. After all, the very possibility of using your non-fungible token in different networks opens up a much wider range of benefits and offers for crypto-enthusiasts. One of the main advantages of multichain is the possibility of expanding its customer base because with the addition of a new network comes a new audience. Separately, it is necessary to emphasize the functionality of cross chains. First of all, it improved security against unauthorized interference in the work of the NFT.
Multichain also makes liquidity easier because your non-fungible token will be active on a specific network. In addition, thanks to the advantages of cross-chaining, the NFT marketplace for video games will be able to work in different conditions and on different devices without reducing performance. In general, multi-chain technologies bring extremely noticeable benefits to your business, allowing you to scale your platform and bring it to the top positions in the global crypto market.
Octogamex the world’s first cross-chain technology based NFT marketplace
OctoGamex is a decentralized NFT trading platform for multi-chain games where you can easily buy, sell, trade and exchange your non-fungible tokens in-game. The marketplace team offers users the best service, intuitive interface and stable income. OctoGamex specializes in the most popular NFT collections, play-to-earn (or P2E) and blockchain games. The main advantage of working with the platform will be its cross-platform nature and operation processing within seconds. Registration on this platform is clear and simple. The user only needs to choose a convenient wallet and the network will take place. Currently the OctoGamex team offers you up to 10 blockchains which you can use to realize your ideas. It decently expands the possibilities of functionality and raises the usability of the platform. In addition, OctoGamex has a unique feature that cannot be found on any other marketplace. The name of this tool is The NFT bridge. It is designed to turn your perception of multichain upside down. The main function of NFT Bridge is to transfer your non-fungible token to another network. That is, OctoGamex users have the option to not pay huge commissions, and convert their NFTs from one chain to another. Don’t delay, because you can become one of them!
ElephantLab – pioneers in modern blockchain product development
The OctoGamex multichain platform was developed by an ambitious team engaged in research in the blockchain field. ElephantsLab is a product company that specializes in the development of products based on blockchain technology. It was founded in 2018 in the UK, but its head office is located in Ukraine. The team actively implements, analyzes and studies blockchain technology, trying to adapt it as much as possible to the realities of the changing present. ElephantsLab also offers development services for multi-chain NFT marketplaces and many other opportunities to develop the non-fungible token industry for global needs.
