Unlockd Partnership with Wormhole
Unlockd, the decentralized, cross-chain protocol that provides NFT liquidity while keeping ownership perks, announced its partnership with Wormhole, a generic message-passing protocol that connects to multiple chains, including Ethereum Solana, Terra, Binance Smart Chain, Polygon, Avalanche, Oasis, and Fantom.
Partnership Highlights
Unlockd and Wormhole partnership aims to bridge gaps and unlock NFT liquidity interoperably.
To begin with, one of the main obstacles that Unlockd faces in the challenge of creating a financial structure for the NFT industry and all its derivatives — such as NFT gaming or metaverse NFTs — is being able to break L1 boundaries.
Web3 ecosystems suffer from evident fragmentation, causing NFTs to be capped by the protocol they live in.
Indeed, a Wormhole is a cross-chain messaging protocol secured by a network of Guardian nodes. The Portal Token Bridge and Portal NFT Bridge provide a standard message format for token and NFT transfers across the Wormhole bridge.
Furthermore, Unlockd leverage the technical architecture created in Wormhole for the transfer of assets and information between networks.
This partnership helps Unlockd to become a cross-chain protocol, allowing NFT liquidity to flow between networks, protocols, and communities in an efficient way.
How does system Integration work?
However, this integration will allow breaking the value limitations of some collections inherited from the ecosystem and protocol they live.
Unlockd, helped by Wormhole, allow all high-value NFTs to have a financial structure to obtain liquidity from making each asset value and reducing opportunity costs regardless of the chain in which they are based.
About Unlockd
Unlockd, decentralized cross-chain protocol provides democratized NFT liquidity and utility for Art, DeFi, Metaverse, Real World, and Gaming.
About Wormhole
Wormhole, an interoperability protocol powering the seamless transfer of value and information across eight high-value chains with just one integration.
SOURCE
https://unlockd-finance.medium.com/a-partnership-to-unlock-cross-chain-nft-liquidity-4bdaf325c26d
