Introduction

Contemporary value chains centered around finance and technology, constitute soft landing spots that have facilitated the adoption of blockchain technology and a variety of blockchain-powered instruments in several industries. The various utility facets of blockchain technology continue to marvel us, with the introduction of new projects into the Crypto & Tech ecosystem; bringing innovative solutions to existing problems and enabling the technology to evolve at an unprecedented rate.

The current technological “internet hype” (Web 3.0) has remained in the limelight of several tech-related discussions, and is currently taking the forefront of over 70% of all new blockchain-based projects. This trend is more visible in the areas of metaverse, NFTs, and other DeFi project ideas. Web3.0 gained this recognition primarily because of the potential within the concept and its structure.

The concept of NFTs makes more sense when placed within the context of web3.0. It serves for value placement and monetization of basically anything from artworks, to the authentication and verification of physical items. Within the blockchain industry, the utility of NFTs is more visible in the blockchain gaming sub-industry. These NFTs are used to unpack modules, features, collectibles, and more; however, trading activities are essential to complete this value chain, hence the need for exchanges that support NFT trading activities.

The nature of NFTs necessitates exchanges that specialize in the technology; however, the concept of NFTs creates a chain limitation that restricts inter-chain trade. Each blockchain platform restricts its elements, making exchange/swap/trade between items from different blockchains impossible. This doesn’t only restrict the amount of NFTs that can be traded, it also restricts inter-community patronage. In other to support a better attempt at global adoption of NFTs in the web3 revolution, we must create a tangible solution to foster easy use for NFTs. This issue necessitates project Stackspace.

The Stackspace project is centered on an NFT-based exchange that solves the on-chain limitation. Through a set of feature combinations, we can achieve interoperability and a multi-chain/cross-chain solution for trading NFTs between blockchains easily (doesn’t strike out the complexity of the process). This document elaborately describes the Stackspace project and what it has to offer.