OR YEHUDA, ISRAEL, 8th April, 2022,
XP.NETWORK, creator of the NFT cross-chain platform that supports more chains than any other NFT protocol, has officially announced plans to expand its involvement in the Tezos ecosystem as a corporate baker. XP.NETWORK will now validate transactions and add them to the Tezos blockchain.
XP.NETWORK has created a multi-chain bridge for NFTs. It tears down the barriers between blockchains, allowing digital assets to flow freely across networks. By doing so, XP.NETWORK is building the foundation for a unified global NFT market, connecting creators, traders, and owners.
Emerging NFT communities on alternative blockchains sometimes shoulder liquidity issues. By being limited to a single chain, promising NFT projects — and NFT holders — may miss out on countless opportunities. XP.NETWORK bridges the gap by making it possible to transfer an NFT between blockchains in seconds at a minimal cost. This means wider exposure for NFT creators, better liquidity for asset holders, and increased transaction flow for the bridged blockchains. For example, an NFT minted on Tezos can be sent to Ethereum and listed on OpenSea. A move that was not possible — until now. Since February, XP.NETWORK have successfully bridged Tezos NFTs to blockchains like Ethereum, Polygon, Avalanche, Elrond, Fantom, Binance Smart Chain and many more.
“When we just started our way, XP.NETWORK knew that Tezos is a blockchain we want by our side. We believe this ecosystem is the benchmark many blockchains should aspire toward. We are excited to see what the future holds for this partnership!” Nir Blumberger, XP.NETWORK CEO.
Tezos is a layer-1 blockchain protocol featuring on-chain governance, self-upgradability, secure smart contract development, low transaction fees, and an environmentally friendly validation system known as Liquid Proof-of-Stake. Tezos has experienced 8 seamless network upgrades over the past four years by allowing each bakery (validator) to vote on protocols. Tezos has a thriving NFT ecosystem with hundreds of thousands of NFTs minted and more than 51 million contract calls made. Reliably energy-efficient, to mint an NFT on Tezos is as much energy as less than 7 seconds of an LED while on Ethereum, it would cost the monthly electricity of an American household.
XP.NETWORK chose to become a Tezos corporate baker to further become involved in the ecosystem. Tezos is industry-leading, energy efficient and constantly innovating. As one of the first blockchains to adopt the proof-of-stake consensus method, Tezos has evolved into an increasingly popular alternative to several major POW-based options. Tezos has cultivated an ecosystem of thriving NFT marketplaces, dApps, tools, and games that offer a wide variety of digital assets with very attractive and affordable fees. It is for these reasons that XP.NETWORK is proud to become a corporate baker.
“XP.NETWORK is an exciting cross-chain NFT platform and we are thrilled to welcome them into the Tezos baking community. They will be a strong pillar and tool for the Tezos ecosystem and we know their dedication, enthusiasm, and skills will lead to the further growth of both the Tezos and XP.NETWORK ecosystem,” Elie Terdjman, Founder of Tezos Israel.
The NFT solution proficient company has set its goal to make digital assets transfers between blockchains easy and accessible. A need proved crucial for this technology to be adopted by a broader range of users. To achieve that goal, XP.network has created the first multi-chain NFT bridge. A cross-chain solution that enables digital assets to flow freely between chains. This groundbreaking tool is already being utilized on several NFT platforms and is on its way to turning the entire blockchain ecosystem into the global village it can be. To use XP.network’s NFT bridge, click here.
Tezos is smart money, redefining what it means to hold and exchange value in a digitally connected world. A self-upgradable and energy-efficient Proof of Stake blockchain with a proven track record, Tezos seamlessly adopts tomorrow’s innovations without network disruptions today. For more information, please visit www.tezos.com.
About Tezos Israel:
Tezos Israel is a blockchain innovation lab based in Tel Aviv focused on onboarding, educating, and developing practical use cases for Tezos and the broader Israeli tech ecosystem. Follow Tezos Israel on Twitter @tezosisrael.