Cosmos ecosystem to launch interchain NFTs via $270K incentivized testnet
Interchain NFTs powered by ICS-721 Update Adherence to the IBC protocol will be Cosmos Hub’s fourth public incentive testnet. Start registration It will take place on February 15th with a prize pool of 20,000 ATOM.
NFTS games
Titled Game of NFTs, the event is an effort designed to create a two-phase initiative to test the application of ICS-721 in a practical sense. Phase 1 is now live via testnet, and Phase 2 will include a hackathon with developers from Amazon Web Services (AWS), HashKey Capital, and IDG Capital. Phase 1 of Game of NFTs is scheduled to begin on March 1, 2023 and will last approximately one month.
Validators and developers will test Interchain NFTs on multiple IBC-compatible chains, including IRISnet, Stargaze, Juno, OmniFlix, and Uptick.
“IBC’s inter-chain NFT upgrade brings to NFTs the connectivity and interoperability already enjoyed by fungible tokens, creating an all-new surface area for developers and artists to unleash their creativity. ”
Participants can sign up for Phase 1 and submit their team information in the following ways: registration formThe Cosmos Network Discord is used to coordinate participation in Game of NFTs.
Equipped with ICS-721
The implementation of ICS-721 made it possible to transfer non-fungible tokens between chains connected to the IBC protocol. This ensures non-fungibility, unauthorized token transfers, and fault containment.
Technically speaking, the ICS-721 is designed to allow multi-chaining. classId It does so by opening unauthorized channels, ensuring that only one instance of any given token is valid on all blockchains connected to the IBC.
according to GitHub overview, the application logic in the host state machine (the existing asset tracking module already running on the blockchain) is assumed to be responsible for the immutability of the metadata of the created IBC tokens. Therefore, developers are “strongly encouraged to check the upstream blockchain (all the way to the source) to ensure that the metadata has not changed en route.”
Integration of ICS-721 into interchain NFTs
The Interchain Foundation is leveraging the cross-chain capabilities of ICS-721 to create Interchain NFTS and Game of NFTs events. This is a big step forward for the IBC blockchain ecosystem as it allows for even greater interoperability between different networks on already highly interconnected blockchains.
This launch aims to increase the utility and value of non-fungible tokens in the Cosmos ecosystem. In addition, the protocol focuses on non-fungible storage, unauthorized token transfer, fault containment, and record keeping, making it a reliable and secure way to transfer non-fungible tokens between different networks. The purpose is that.
