Top NFT Marketplaces in the Cosmos Ecosystem
Posted 2022-10-26 14:22:33
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The Cosmos ecosystem is a decentralized network of independent but interoperable blockchains capable of exchanging information and tokens without permission.
Older blockchains like Ethereum and Bitcoin have been blamed for the lack of interoperability. These blockchains were built without the need for communication with emerging blockchain networks. As a result, the widespread adoption of financial products in DeFi (decentralized finance) and NFTs (non-fungible tokens) has been severely affected on Ethereum.
The Cosmos ecosystem aims to address some of the issues facing other blockchains such as scalability, usability and interoperability. The Cosmos Ecosystem has its own NFT Marketplaces, and the NFTs on these marketplaces are interoperable on all the different networks in the Cosmos ecosystem. The seamless interoperability of the Cosmos ecosystem’s NFTs and NFT Marketplaces is due to the space having set an Inter NFT standard, which makes interoperability very easy for Cosmos ecosystem networks.
NFTs in Cosmos Ecosystem
Cosmos Ecosystem has pledged to develop NFT modules by 2019. However, the Cosmos development team later stopped updating the NFT module for unknown reasons. But on 19/05/2021 they updated the debate to implement a common NFT module.
Common NFT module provides a major advantage of interoperable functionality for applications such as gaming and NFT Marketplaces to accelerate mass adoption. NFTs stand to reap many other benefits from the 'blockchain Internet'. One of the key features of the Cosmos ecosystem is that its networks can provide rapid completion of transactions at very low costs, and near infinite scalability.
The near infinite scalability of the Cosmos ecosystem is due to the Cosmos and Tendermint SDKs, which allow people to create interoperable networks, DApps and assets for the Cosmos Ecosystem.
InterNFT Working Group
The InterNFT Working Group began working on interchain standards to make NFTs in the Cosmos ecosystem interoperable in blockchain networks. The InterNFT group drafted a set of Interchain standards with the intention of creating state of the art for Non-fungible tokens (NFTs), and a much more advanced Metadata associated uniquely with NFTs found in the
Cosmos ecosystem.
The InterNFT group basically works to create a standardized system for NFT creation that all different networks on the cosmos ecosystem can follow. This standardized system is meant to make NFTs on the Cosmos ecosystem seamlessly interoperable with all of the Networks on the Cosmos ecosystem.
Top NFT Projects in Cosmos
The cosmos ecosystem is growing very fast. Cosmos has seen a number of plans in recent days to increase the efficiency of NFTs. Cosmos is the first blockchain to test the interoperability of NFTs.
There are numerous interoperable NFT projects on the Cosmos ecosystem, but the 3 main ones are Pylons, AssetMantle and Uptik. There are other popular NFT projects on Cosmos as well, and they are: OmniFlix Network, Stargaze, Strange Clan, Passage3D, and Secret Network NFTs are trending NFT projects in the Cosmos ecosystem.
Pylons
Pylons are an NFT engine based on the Cosmos SDK and IBC protocols. It is a platform that supports cross game item trading with low trading fees, fast trading speed, and easy to develop features.
AssetMantle
AssetMantle is an NFT platform that provides artists and content creators with the opportunity to set up their own dedicated marketplaces or storefronts for their NFT collections. Think of it as a fully decentralized Shopify that focussed on NFTs. Rather than listing their creations on a general marketplace like OpenSea, creators on AssetMantle can use the NFT platform to mint and launch their own NFT collections on their own digital NFT stores.
Uptick Project
Uptick Project is the first NFT mobile app in the Cosmos ecosystem. It currently supports digital deposit cards and e-tickets. Consumers can buy, transfer and sell these NFT collections. Uptick currently supports Android devices and can be found in the official download link and in the Google Play Store.
Ongoing Development
In the current Cosmos ecosystem, the development, and implementation of the official InterNFT standard are still ongoing. However, many NFT platforms have already launched their projects, and their DApps are already operating on chain.
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