NFT CROSS-CHAIN AGGREGATOR: The Next Crypto Market Sensation

The Blockchain ecosystem has given rise to many niches in crypto, and the non-fungible token (NFT) is one of its incipient areas. Multiple ecosystems are bringing innovations and development into NFT trading and utility platforms, thus developing large-scale markets for NFTs. However, despite the upscale of NFTs cross-chain, interoperability is still a challenge in this area.

Interoperability promotes information accessibility and sharing among different blockchains however, among NFTs platforms, isolation from interchain connectivity still exists. The isolation of individual NFTs has impeded growth for all these years despite the explosive adoption of NFTs. Another factor affecting interoperability is the high transaction fees that if put together could cost a fortune. Even when users are given the option of migrating NFT assets to other chains, the distinctiveness of an on-chain token is then lost.

To solve the isolation problems associated with NFTs, building NFT Cross-Chain Aggregators may turn out to be a welcome development and the future of NFTs.  Just like cross-chain exchanges, NFT platforms merging with a high level of transparency will aid multi-asset trading. So far, the ERC-1155 and ERC-721 NFT standard-operated tokens are welcoming this initiative to strengthen the interoperability of NFTs and expand the crypto market. Also, other blockchain projects with track records of success are currently exploring the possibilities of aggregating NFT assets for all to explore.

References

https://www.cryptocurryclub.com/post/cross-chain-lending-for-crypto-nfts-and-stablecoins
https://drep-foundation.medium.com/drep-crossing-the-ultimate-solution-to-nft-cross-chain-swap-multi-assets-circulation-eaaa81390bac
https://cointelegraph.com/press-releases/umi-combining-nft-staking-with-cross-chain-defi-farming-on-eth-xor
https://nftrade.com/cross-chain/

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