How XP.network is Taking The NFT Movement Further Than Ever Before
The rise of NFTs has truly been something to behold, and it has resulted in multiple parties scrambling to get NFTs out on the market. They have revolutionized DeFi as well by providing tokens that can be used to raise capital with flawless proof of stake, but many that are interested in creating NFTs and decentralized apps of their own often face a technical barrier.
There is a fair of technical proficiency required before you can enter the NFT space. This barrier of entry prevents a lot of inexperienced entrepreneurs from establishing their own NFTs, and while it is something that can be overcome by copious amounts of research and training, the creation of NFTs is often a time sensitive task and most interested entrepreneurs simply don’t have the time and resources that they can waste on something like this.
Another problem that you might face whilst trying to enter the NFT space would have to do with choosing the right blockchain. You are spoiled for choice in this regard, but this can be bothersome too since you might not know which blockchain would work well for your specific NFT.
This is where XP.network comes in. This parachain based on Polkadot is the perfect solution for people that want to deploy their NFTs efficiently. The creators of this platform include the likes of Amazix and Firmo alumnus Nir Blumberger as CEO and development veteran Dima Briukhanov.
XP.network aids the deployment of NFTs to various compatible blockchains in two ways. Firstly, it provides an application editor that allows people to create dApps even if they don’t know how to code. This is a graphic editor that uses drag and drop features quite spectacularly, and it can make it so that virtually anyone can make an NFT to digitize their assets and record their ownership of said assets on a blockchain.
The second advantage has to do with deployment. The application editor allows you to deploy your new dApp to a wide range of blockchains including Ethereum, Polkadot and BSC. Even Facebook’s nascent Diem is compatible with this editor. Deployment is as easy as clicking a button, and if your NFTs performance on a particular blockchain is not up to your standards you can migrate it to a separate block chain instantly.
This can help newer entrepreneurs learn through a combination of trial and error, and it can also provide information on the pros and cons of the various blockchains that are out there right now. While the vast majority of NFTs are currently on the Ethereum blockchain, it is still important to parse your options and see what would fit you best.
The process by which you can create an NFT is pretty simple, perhaps surprisingly so. The first step involves selecting a use case, and you will have a list of features that you can choose from to add to your NFT. The smart contracts for blockchain deployment are compiled automatically, and the system detects what language the blockchain is compatible with as well to speed up the deployment process.
The coders among us might take umbrage with this Lego-ization of the deployment process, but the efficiency with which it is done makes it beneficial to make use of this platform. The migration module clearly displays the code, and those that have experience with coding can make changes as they see fit.
Coders can also make use of the compliance validator which will notify you about any potential bad code and give you suggestions about how you can go about fixing it. After all of this is done, the only step left is deployment and XP.network is actually the first platform to facilitate deployment along multiple blobkchains!
The dominance of Ethereum is currently under threat with of competitor blockchains popping up. Competition breeds innovation, so chances are high that some of these new blockchains would have something unique to offer that you wouldn’t want to miss out on. Through the use of XP.network you can see how your NFT performs on various blockchains and make the most of the new wave of blockchains, many of which are pushing the field ahead by leaps and bounds.
Polkadot is particularly notable because of its low fees. Deploying an NFT to the network will result in you spending only a fraction of the money that you otherwise would have if you had chosen to deploy on Ethereum instead. The network also manages each blockchain differently by giving it the bandwidth that it requires rather than having a single bandwidth across the board. This helps with both speed and efficiency, and with the breakneck pace of NFT trading the extra few seconds that you can save will go a long way.
This just goes to show how important it is to experiment with blockchains. With the application editor on XP.network you can greatly reduce the risk of your NFT being rejected by a network, something that would make all of your hard work go down the drain. The compliance validator is an important tool, and it’s just one of the many that XP.network currently has in its arsenal.
The level of detail that has gone into the development of this network is quite astounding, and it can really help to bring NFTs into the mainstream. Countless individuals are interested in them due to their ability to prevent piracy and maximize revenue from a particular asset or piece of media. Projects like this can help take NFTs past the initial hype and help them turn into a mainstay in various sectors, potentially turning them into the next big asset class that people will be pouring their investments into.