XP.NETWORK is an ecosystem centered around a multi-chain bridge for minted NFTs. It tears down the barriers between blockchains, allowing NFTs to flow freely across networks. Connecting dApps, token minters, traders, and owners, XP.NETWORK builds the foundations for a single global NFT market.
The NFT industry has been expanding rapidly, with weekly sales growing from $2.3 million in January 2021 to $1 billion in August, while the number of active wallets increased from 6,000 to 70,000. The process is accelerating as hundreds of NFT projects pop up on other blockchains, such as Binance Smart Chain, Solana, and Avalanche, where minting fees are far lower than on Ethereum.
However, emerging NFT communities on these alternative blockchains suffer from a lack of liquidity. Being limited to a single chain, these promising NFT projects – and NFT holders – miss out on countless opportunities.
The XP.NETWORK bridge solves this issue, making it possible to transfer an NFT from one blockchain to another 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 Avalanche can be sent to Ethereum and listed on OpenSea – something that hasn’t been possible until now.
The bridge combines high scalability with superior security. It works by creating wrapped NFTs that preserve the original assets’ metadata without duplicating the assets themselves. The original NFTs are safely stored in custody and can be restituted to the holder if needed.
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