2 years ago
Interchain NFTs, powered by the ICS-721 update to the IBC protocol, volition beryllium the 4th publically incentivized testnet for the Cosmos Hub arsenic registration opened connected Feb. 15 with a 20,000 ATOM prize pool.
Game of NFTS
The event, entitled Game of NFTs, is an endeavor designed to make a two-phase inaugural to trial the exertion of ICS-721 successful a applicable sense. Phase 1 is unfastened present done the testnet, and signifier 2 volition incorporate a hackathon that includes developers from Amazon Web Services (AWS), HashKey Capital, and IDG Capital. Phase 1 of the Game of NFTs is scheduled to footwear disconnected connected March 1st, 2023, and volition past astir a month.
Validators and developers volition beryllium investigating Interchain NFTs crossed aggregate IBC-compatible chains, including IRISnet, Stargaze, Juno, OmniFlix, and Uptick.
“The Interchain NFT upgrade for IBC brings the connectivity and interoperability already enjoyed by fungible tokens to NFTs, creating each caller aboveground areas for developers and artists to unleash their creativity.”
Participants tin motion up for Phase 1 and taxable squad accusation via the registration form. The Cosmos Network Discord volition beryllium utilized to coordinate information successful the Game of NFTs.
Powered by ICS-721
The implementation of ICS-721 brought the quality to transportation non-fungible tokens betwixt chains connected with the IBC protocol. It ensures the preservation of non-fungibility, permissionless token transfers, and responsibility containment.
Technically speaking, ICS-721 is designed to alteration multi-chain classId handling with permissionless transmission opening and ensuring that lone 1 lawsuit of immoderate token is unrecorded crossed each the IBC-connected blockchains.
According to the GitHub synopsis, it is assumed that exertion logic successful big authorities machines (existing plus tracking module that is already moving connected a blockchain) volition beryllium liable for the metadata immutability of IBC tokens minted. Therefore, developers volition beryllium “strongly advised to cheque upstream blockchains (all the mode backmost to the source) to guarantee its metadata has not been modified on the way.”
Integrating ICS-721 into Interchain NFTs
The Interchain Foundation is leveraging the cross-chain abilities of ICS-721 to make Interchain NFTS and the Game of NFTs event. This is simply a important measurement guardant for the IBC-blockchain ecosystem arsenic it allows for adjacent greater interoperability betwixt antithetic networks connected an already highly interconnected blockchain.
The motorboat aims to summation the usefulness and worth of non-fungible tokens successful the Cosmos ecosystem. Additionally, the protocol’s absorption connected non-fungibility preservation, permissionless token transfers, responsibility containment, and record-keeping aims to marque it a reliable and unafraid method for transferring non-fungible tokens crossed antithetic networks.
The station Cosmos ecosystem to motorboat interchain NFTs via $270K incentivized testnet appeared archetypal connected CryptoSlate.
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