WAX Develops the Largest Cross-Blockchain Ecosystem with Binance for NFTs
William Quigley, the co-founder of WAX (Worldwide Asset eXchange) has a vision for the future. This involves a company-build NFT bridge enabling NFT and blockchain marketplaces to thrive even though they are different chain types. Recently, his vision took a major leap forward as the company made an announcement of their GameFi project known as ‘Blockchain Brawlers’. This would allow the users to transfer NFTs in the game interchangeably between the WAX blockchain and Binance Smart Chain via the NFT bridge that WAX has developed.
The co-founder said that their NFT bridge can help in building a future they have envisioned, which would make NFT marketplaces and blockchains accessible to all despite their different chain types. The auction of the ‘Blockchain Brawlers’ NFT collection would take place for the first time on November 30th, 2021 on the Binance NFT marketplace. The GameFi industry would be able to move to the next level by allowing users to transfer the NFTs they use in games through the bridge to other blockchains. As the NFTs can be transferred for free, it would also increase the global mass adopt rate of NFTs related to gaming. The first blockchain to be connected to WAX is the Binance Smart Chain (BSC).
Plus, ‘Blockchain Brawlers’ would also be the first gaming dApp that provides NFTs with a cross-chain ecosystem. ‘Founder’s Edition’ is the name given to the first batch of the ‘Blockchain Brawlers’ NFTs and they are a total of 100 that can be found in four separate editions named Standard, Cage Match, Hardcore and Death Match. Each of these Brawler NFTs would have a rather important role in the soon-to-be launched game, which is play-to-earn, where players will be competing for fortune and fame. The first phase of the NFT bridge by BSC and WAX would enable users to view the NFTs they have on the BSC through their WAX Cloud Wallet account.
Selected BSC NFTs can be transferred to the WAX blockchain via the NFT bridge, which include the Blockchain Brawlers bought on the Binance NFT marketplace. The bought NFTs would then be visible in the list of the NFT inventories of the user on the WAX blockchain. A much larger universe of NFTs would become accessible in the second phase via the NFT bridge on the Binance NFT as well as the WAX blockchain. This will allow users to buy and sell their NFTs on the BSC-based as well as WAX NFT marketplaces, regardless of where the NFT originated.
It is projected that this NFT bridge will go live in the second quarter of next year. After the Binance NFT auctions, it is expected that additional NFTs would also be auctioned from the game on WAX. This is the biggest gaming blockchain that exists and processes 3/4th of all gaming related transactions. Meanwhile, Binance NFT had recently introduced their gaming-related initiative known as IGO (Initial Game Offering) for providing users early access to the GameFi world. Binance NFT is hoping to use IGO for building the gaming metaverse’s future.
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Text source: Coinfrog
