HurricaneSwap Decides to Launch a Cross-Chain NFT Market
NFT Market
In the past year, the development of NFT has grown by leaps and bounds, and it has become the hottest field in the crypto industry and has also brought huge profits far beyond the traditional market. From the popularity of avatar NFTs represented by CryptoPunks, to the popularity of text NFTs represented by Loot, to the entry of traditional brands into NFTs, NFTs are gaining a lot of attention around the world.
In this year, we can see that the top ten global famous brands have deployed NFTs one after another. Coca-Cola launched the first NFT series; Adidas launched NFT series in cooperation with Punks Comics, Gmoney, and Bored Ape Yacht Club; Burberry, Louis Vuitton also released their own NFTs; Gucci and 10KTF launched 10KTF Gucci Grail series NFT; NBA superstars such as Jordan, James and other film and television music stars selling personal NFTs. It can even be seen that some physical goods are tokenized on the blockchain, many users are using NFT without realizing it, and NFT is quietly changing people’s way of life.
Cross-Chain Need of NFT Market
At present, not only major traditional centralized exchanges such as Coinbase and Binance have begun to invest NFT projects, but also major Internet manufacturers have launched related NFT products. In the future, NFT will have more diverse asset types, application scenarios, and can be seamlessly integrated into various fields, from art, financial bills, healthcare to ticketing, banking, decentralized identity, NFT games, etc., it is not difficult to see the huge development space for the NFT market in the future.
Previously, NFT is mainly based on Ethereum, but due to the congestion of the Ethereum network and the high gas fee, more and more users and developers turned to other blockchain networks such as Avalanche, BSC, Polygon, etc. The multi-chain NFT and the diversification of NFT assets have also made the NFT cross-chain a rigid demand. Cross-chain NFT transactions can better promote the fragmentation of NFTs, enhance the liquidity of NFTs, and promote the privatization of NFTs.
Why Hurricane NFT Market?
Before introducing the Hurricane NFT Market, let’s review HurricaneSwap first:
HurricaneSwap is the 1st cross-chain liquidity DEX officially supported by Avalanche, and Ted Yin, co-founder and chief architect of Avalanche, personally serves as the chief consultant of HurricaneSwap. HurricaneSwap applies one of the best cross-chain trading solutions on the market — Roke Protocol which can simultaneously support asset transactions on dozens of heterogeneous blockchains, allowing users to aggregate liquidity from different chains into HurricaneSwap.
It is worth mentioning that HurricaneSwap launched the testnet on Avalanche FUJI testnet at the end of August 2021. The number of addresses participating in the test reached nearly 200,000 within three weeks, and the number of transactions accounted for 83% of all transactions on the FUJI testnet during the same period. More than 22% of Avalanche FUJI testnet addresses hold HurricaneSwap platform token HCT. HurricaneSwap has now grown into one of the largest projects in Avalanche’s ecology.
Hurricane NFT Market is the first cross-chain NFT trading protocol based on Avalanche by HurricaneSwap. It was born to solve NFT cross-chain transactions in different ecosystems and is currently the only cross-chain NFT trading platform that has been implemented. It will support cross-chain NFT tradings on multiple chains such as Ethereum, BSC, Avalanche, Fantom, and Polygon.
Users can buy trade NFTs on any chain and obtain NFT Vouchers (Wrapped NFT). The voucher can be traded in the Hurricane NFT Market with AVAX as the gas fee, saving a lot of time and cost, or be destroyed to redeem the NFT on the source chain.
NFTs give users ownership and sovereignty over their digital assets, and the Hurricane NFT Market will give these assets the freedom to circulate between different blockchain networks. Hurricane NFT Market is likely to detonate the next hot spot in the NFT market.
