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Wednesday, August 10, 2022

Harmony Has Launched Passport For BAYC

Friday saw Harmony, the blockchain platform, announcing the launch of the passport for the Bored Ape Yacht Club NFT. This blockchain platform has gained fame due to its mainnet running on the network of Ethereum- while claiming to have two-second transaction finality along with exorbitantly low transaction fees.

The Passport for the NFT would allow users to import proof of their apes into DeFi kingdoms, a play-to-earn game that has been built on the blockchain platform with around 120,000 monthly active users. During the initial stages, most of the Ape holders would be able to provide validity and display their assets in the game throughout most of the blockchains.

Harmony Launches Passport For NFT

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The relative infant nature of cross-chain technology does imply that the funds could be a potential risk when going across multiple chains, as the biggest decentralized finance hack for the year has proved. However, as stated by the developers of Harmony, the Passport doesn’t move through assets- instead, it proves the ownership of assets across various blockchains, which further guarantees their authenticity throughout. Its cross-chain bridge- called Horizon, definitely supports interoperability between Ethereum, Harmony, BNB Chain, and a few other blockchains. 

One of the team members of the blockchain platform at Harmony, Leo Chen. stated that they wanted to provide all of the holders of NFT with more utility and options to enhance and display their NFTs while participating in the Metaverse. The holders of the Bored Ape Yacht Club would definitely be the first choice. Also, the cross-chain identity would seek to create a secure and easy way to go through with it without putting their assets at major risk. 

Just the last month saw Twitter kicking off its NFT token campaign in a manner that was quite similar to Harmony. The campaign would allow paid subscribers the ability to show their NFTs off.

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