Holograph has successfully integrated LayerZero protocol to facilitate holographic Omnichain for the non-fungible token (NFTs). The joint team will now create a bridge that will allow NFTs to move seamlessly across chains with complete data integrity.
In a June 29 announcement, Horograph confirmed the successful partnership with omnichain protocol LayerZero to enable a high level of cross-chain NFT interoperability. The new integration will allow the holder to bridge their addresses and token IDs.
While commenting about the new integration, Jeff Gluck, the CEO of Holograph, said that the new bridge will leverage LayerZero’s lightning protocol to facilitate cross-chain messaging. He explained.
“Holograph’s omnichain NFT infrastructure brings exciting new use cases for creators, developers, and enterprises. We are excited to work with Layer Zero’s incredible team to launch our protocol and deliver a giant leap forward in blockchain interoperability.”
The new bridge will allow NFTs to move on-chain with all their data without wrapping. Wrapping is the process of inter-locking one blockchain to another. The functionality will enable NFT holders to mint their NFTs on the destination chain.
The new functionality will be analogous to plagiarized and photocopy artworks or original artworks with different contract addresses and token ID. In this case, once the NFT moves onto the third chain, the protocol will generate another synthetic NFT.
According to Horograph, this process will complicate the record of ownership and trace authenticity. However, the holographic bridge will reduce the number of tractions required to bridge an NFT.
Moreover, the new functionality will efficiently mitigate the multiple gas tokens required to execute transactions. Creators can take advantage of the new bridge and enjoy cheaper transactions.
Creators will now mint an NFT on one chain and bridge them into other chains with more liquidity. The omnichain solution allows chain-specific NFT properties to update dynamically. While commenting on the new functionality, Bryan Pellegrino, the CEO of LayerZero, said:
“LayerZero is excited to support Holograph as its cross-chain messaging solution. Their Omnichain NFT infrastructure aims to unlock a frictionless NFT user experience, onboarding the next wave of crypto users.”
Holograph On NFT Marketplaces
Holograph has extended its holographic bridging solution to NFT marketplaces. The functionality will allow traders to collect NFTs from multiple NFT platforms without requiring gas tokens for each minting.
Holograph will provide omnichain NFT interoperability infrastructure to creators, developers, and enterprises. Holograph has integrated LayerZero as part of its effort to unlock NFT interoperability for the Web3 ecosystem.
Related
Lucky Block – Our Recommended NFT for 2022
- New NFT Game Platform
- Featured in Forbes, Nasdaq.com, Yahoo Finance
- Worldwide Competitions with Play to Earn Rewards
- 10,000 NFTs Minted in 2022 – Now on NFTLaunchpad.com
- 3.75 wBNB Floor Price
- Free Exclusive Entry to Daily NFT Prize Draws
- Lifetime Access to the Main Lucky Block Prize Draw
- $1 Million NFT Jackpot in May 2022
- LBLOCK Token Up 1000%+ From Presale
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Source: https://insidebitcoins.com/news/holograph-integrates-layerzero-to-facilitate-nfts