New Developments of NFT on Moonbeam: Cross-chain Access and 1:1 Artwork

The continuous innovation in blockchain technology has driven the ongoing development of NFT application scenarios on Moonbeam. Users can freely access NFTs across chains, and new use cases such as the 1:1 NFT concept have also stirred up a wave in this field. Moonbeam is actively enhancing the interoperability of cross-chain NFTs, creating new opportunities for NFT use on other blockchains.

The Moonbeam network has a diverse and active ecosystem, natively supporting ERC-721 and ERC-1155 standard NFTs that can be used for cross-chain interoperability. This means that Ethereum-compatible NFTs can be displayed and used on a single platform without the need for cross-chain transfers. This flexibility will impact the application of NFTs in various fields such as gaming, the metaverse, and art collection.

As a smart contract platform that supports cross-chain interoperable applications, Moonbeam provides an ideal environment for NFT markets to reach users across multiple blockchains. Several leading multi-chain NFT markets have already been deployed and innovated on Moonbeam, including Treasureland, NFTrade, Tofu NFT, Moonbeans, Mintverse, and Raresama.

These platforms are optimistic about Moonbeam's cross-chain interoperability advantages. The growth and strategy head of NFTrade stated: "We firmly believe in the future of cross-chain and multi-chain, which is also what Moonbeam is striving to achieve. We are excited to collaborate with the Moonbeam team and community to create value for its chain and collectibles."

Moonbeam is integrating features from ecosystems such as Ethereum, Cosmos, and Polkadot to address the current issue of fragmented user experience, achieving true interoperability and laying the groundwork for the next generation of applications. Enhancing user experience is key to driving broader adoption, and the NFT sector is one of the effective ways to achieve this goal.

The CEO of Moonbeans stated: "Our marketplace aims to provide a familiar and friendly user experience, allowing new users to easily understand and trade NFTs. The ease of cross-chain transactions is key. We are developing NFT bridging features with our partners to provide users with the convenience of cross-chain interactions."

The value of NFTs comes from community demand and scarcity. In addition to collectible value, NFTs can also provide utility, such as access to specific communities, the metaverse, and gaming permissions. As the possibilities of Web3 expand, new use cases for NFTs will continue to increase, including representing tradable portfolios, distributing royalties, preventing fraud, and more.

1:1 NFT, as unique artworks, is transforming the NFT space. They often hold more market value than individual NFTs from a complete collection series, driving demand growth. 1:1 NFT also offers artists the opportunity to bring fans and communities into Web3, helping to expand market size.

On Moonbeam, multiple platforms are supporting 1:1 NFTs. The Moonbeans marketplace is dedicated to providing users with creative freedom, supporting various types of NFTs, including 1:1 NFTs. Raresama focuses on 1:1 art and is governed and curated by the community.

The case of artist Angela Pencheva demonstrates how traditional artists can enter the Web3 space through 1:1 NFTs. She created the first 1:1 NFT project on Moonbeam and showcased her works on multiple platforms. Pencheva stated that entering the NFT field has been one of the best experiences of her career, despite the challenges of learning the relevant knowledge and tools.

Moonbeam provides crucial support for artists. One important reason Pencheva chose Moonbeam is its unique interconnectivity contract strategy, which reduces the risks of selecting a blockchain platform. Additionally, the support from the Moonbeam ecosystem and the broader Dotsama community also attracted her.

As more traditional artists and fans enter the digital space, the way NFTs are used is changing. The focus is no longer solely on making short-term profits through the buying and selling of simple digital images, but rather on the quality of the artwork and the authenticity of the artist.

Moonbeam is supporting ecosystem development through cross-chain interconnection contracts and practical applications of Web3 concepts such as NFTs. Building user-friendly applications will continue to simplify interoperability between blockchains, while 1:1 NFTs are expected to promote the widespread adoption of blockchain technology in fields such as the art world.