Why is an NFT multi-chain platform the future?
Learn about why WEYU is creating a multi-chain platform and why it matters for the future of Non-Fungible Tokens
Explosion incoming! Yes, NFTs are blowing up and as we head further into 2021 each new week seems to bring bigger milestones and greater attention to the wonderful world of non-fungible tokens. Sure, your mom might still have no idea what an NFT is, however, their popularity continues to skyrocket, leading us to ask; Are NFT’s mainstream now? While NFTs aren’t the same level of ‘mainstream’ as smartphones or Marvel movies, they do, to some extent, highlight some staying power, even outside the cryptosphere — and that is incredibly exciting. From Damien Hirst to Dolce & Gabbana, more and more entities are diving into the world of NFTs, with an ever-expanding number of people collecting them across numerous platforms and blockchains — which is great until you need to start trading them…
LIMITATIONS TO CURRENT NFT MARKETPLACES
The rise of NFTs, which are largely created on the Ethereum blockchain, has helped bring issues and limitations within the space to light — one of which is fragmentation. Currently, there are several NFT marketplaces that rely on multiple blockchains. As a result, it has become exceedingly challenging for the average internet user to understand how NFTs work. Accessing trustworthy and verifiable resources is a headache and to make matters worse, each platform has a unique process for the consumer. Up to now, there is no platform that allows you to buy and sell across multiple blockchains, making the process of purchasing or selling NFTs tortuous and convoluted. That is, until now.
WHY IS WEYU CREATING A MULTI-CHAIN PLATFORM?
The popularity and attention given to the NFT space has only accelerated fragmentation and increased complexity for the average consumer, but WEYU is here to change that. WEYU exists to help everyone navigate the vast NFT universe through a unified and trusted platform where user experience and educational resources are at the core. In summary, we want to solve the issue of fragmentation and complexity that surrounds NFTs to enable accessibility and encourage adoption for all. How are we doing this? By creating a multi-chain platform, which as it sounds, is a project that can function across more than one chain (by definition, a ‘multi-chain’ must be deployed on at least two chains, such as Ethereum and Binance Smart Chain). In fact, WEYU is the world’s first Multi-Chain Platform designed specifically for the NFT resale market. With multi-chain functionality at the heart, the WEYU platform enables interoperability between blockchains allowing for the ability to transact, communicate and share data across multiple blockchains — something that is unrivalled in the industry today.
HOW IS WEYU CREATING BLOCKCHAIN INTEROPERABILITY?
The majority of the core WEYU team consists of blockchain engineers who have vast experience and a strong understanding of the challenges that come with building a multi-chain platform. This specialized team has developed a technical roadmap that allows any blockchain standard to be transferable and accessible via the WEYU protocol. We are more than ready. To begin, WEYU will launch with advanced accessibility and will include at least 5 blockchains; Ethereum, Solana, BSC, Polygon and Cardano (with Polkadot to be added shortly), as well as several NFT standards. WEYU gives users the freedom and flexibility to explore the NFT ecosystem without being hindered by blockchain choices or wallet preferences — Nice.
WHAT BENEFITS DOES AN NFT MULTI-CHAIN PLATFORM BRING?
The WEYU platform connects multiple platforms, blockchains and marketplaces into one unified place for all your NFT needs. Simple right? To simplify the impact of the WEYU platform further, let’s review the key benefits of a multi-chain NFT platform;
- Increases accessibility into the NFT ecosystem
- Breaks down barriers against NFT adoption among users, stimulating growth in the industry
- Simplifies the process of trading multiple-blockchain NFTs with a unified platform
- A modern and friendly UI/UX design helps new users to get started effortlessly.
THE RIGHT SIDE OF NFT HISTORY
As the tokenization of items ranging from collectable art to digital property, and everything in-between becomes the norm, WEYU believes that simple-to-use platforms that cater to the average internet user will drive mass adoption of non-fungible tokens. Multi-chain functionality is central to this, offering a future-proof solution to the current issues that exist within the NFT space today. The future is already being shaped, and soon WEYU will become the first multi-chain platform for the NFT resale market. The question is — are you going to be on the right side of NFT history?
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