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Holograph, LayerZero Collab To Bring Holographic Omnichain NFTs

Cryptocurrency Jun 29, 2022 05:00AM ET
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Holograph, LayerZero Collab To Bring Holographic Omnichain NFTs

    • Holograph integrates with LayerZero.
    • This partnership is to launch the holographic bridging solution on LayerZero.
    • Holograph’s bridging process utilizes lightweight cross-chain messaging of LayerZero to enable ‘holographic’ omnichain NFTs.

Holograph, the omnichain NFT infrastructure provider, has integrated with LayerZero to deliver its patented ‘holographic’ bridging solution. This solution seamlessly beams tokens across blockchains with complete data integrity, including persistent smart contract addresses, and token IDs.

Speaking of the partnership, Jeff Gluck, CEO of Holograph remarked:

Holograph’s omnichain NFT infrastructure brings exciting new use cases for creators, developers, and enterprises. We are excited to work with Layer Zero’s incredible team to launch our protocol and deliver a giant leap forward in blockchain interoperability.

Meanwhile, CEO of LayerZero, Bryan Pellegrino, commented that his team is excited to support Holograph as its cross-chain messaging solution. “Their [Holograph’s] Omnichain NFT infrastructure aims to unlock a frictionless NFT user experience, onboarding the next wave of crypto users,” Pellegrino added.

Holograph’s first-of-its-kind bridging process makes use of LayerZero’s lightweight cross-chain messaging to enable ‘holographic’ omnichain NFTs. The original token is seamlessly beamed onto a new chain with all of its data left intact, with no wrapping necessary. Holographic bridging reduces the number of transactions required to bridge an NFT and eliminates the need to manage multiple gas tokens to execute both the origin chain and destination chain transactions.

Moreover, Holographic bridging unlocks new and exciting use cases. For instance, a creator could get benefits from the cheaper transaction costs to mint an NFT on one chain. After this, they can easily bridge that token onto another chain with more liquidity, making it easier for sale.

Furthermore, the bridging enables chain-specific NFT properties that can be updated dynamically based on the chain it is currently located on. Meanwhile, traders can explore cross-chain NFT arbitrage to try and profit from the slight price difference of NFTs listed on marketplaces across different chains.

By deploying Holograph, it becomes possible to create omnichain NFT marketplaces where traders can collect NFTs from many different chains, without needing to acquire the native gas tokens for each one.

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Holograph, LayerZero Collab To Bring Holographic Omnichain NFTs
 

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