- XP (NASDAQ:XP).network announces an integration with the Tezos blockchain.
- Tezos will use XP.network’s multi-chain bridge to expand its reach.
- The multi-chain NFT bridge enables digital assets to flow freely between chains. .
NFT proficient company, XP.network announces that it has partnered with Tezos blockchain. The recent integration will see Tezos incorporate XP.network’s multi-chain bridge into its ever-increasing feature set, further expanding its reach throughout the global cross-chain ecosystem.
For its NFT multi-chain bridge, XP.network says it dismantled the boundaries that exist between blockchains, allowing digital assets to freely flow across networks. In detail, the bridge combines a high level of scalability with a high level of security. It works by constructing wrapped NFTs that keep the metadata of the original assets without duplicating them. The original NFTs are kept in a secure location and can be returned to the bearer if necessary. XP.network CEO, Nir Blumberger expresses his delight with the Tezos partnership,
When we just started our way, XP.network knew that Tezos is a company we want on our side. We believe this ecosystem is the benchmark many blockchains should aspire toward. We are honored and excited to see what the future holds for this partnership.
The multi-chain NFT bridge was designed by XP.network to make it possible to transfer an NFT between blockchains in seconds for a low fee. This means that NFT creators will have more exposure, asset holders will have higher liquidity, and the bridged blockchains will have more transaction activity.
According to the information collected by CoinQuora, XP.network chose to partner with Tezos because of its industry-leading energy efficiency and constant innovation. This is evident by Tezos emerging as the premier blockchain to mint, host, and trade environmentally clean NFTs because of its low energy consumption, fractional gas fees, and institutional-grade security in 2021.
Elie Terdjman, Founder, Tezos Israel affirms,
We are very excited about the Tezos integration into XP.network’s bridge. We are very optimistic about their technology, and their diligent development team has ensured that they will be the premier cross-chain bridge. Tezos Israel had the honor of working with the XP.network team over the past few months in assisting them with this integration. We are looking forward to seeing what’s on the road ahead for Tezos and the XP.network.
The 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, the XP.network’s team discloses. By connecting producers, traders, and owners, XP.network aims to lay the groundwork for a single worldwide NFT market.