GateChain, a public chain by Gate.io, has started enabling cross-chain interoperability for its NFT marketplace, Gate.io NFT Magic Box.
As per the announcement, Gate.io NFT Magic Box is now compatible with several blockchain protocols, including Ethereum’s ERC-1155 protocols, ERC-72, BTFS protocols, and Tron’s TRC-721. In addition, GateChain now provides a high level of security to the NFT Magic Box.
Notably, the cross-chain support has made Gate.io NFT Magic Box the go-to platform for all NFT solutions. The platform now allows creators of various NFT collections on different blockchains to interact and trade on the same platform.
Commenting on the development, Marie Tatibouet, CMO at Gate.io.
“Much like the rest of the cryptocurrency market, NFT projects are built on the blockchain. There are several different blockchains on which NFTs are currently being built, with the most popular being Ethereum. As the market grows, NFTs will be spread across different chains, and platforms will need to adapt to ensure support and thus inclusivity. In order to promote inclusivity and a platform that brings together the best the NFT market has to offer, Gate.io NFT Magic Box provides a unique offering using Gate.io’s native GateChain.”
Gate.io NFT MagicBox is a centralized NFT trading platform that involves an Auction platform and Pioneer Creation platform. Launched in June 2021, Gate.io NFT Magic Box marketplace seeks to grow the NFT ecosystem while at the same time providing the artist with a cost-effective and easy-to-access platform. The platform has already integrated the world’s top NFT platforms such as Opensea, CryptoArt, Rarible, and Sorare.
In addition, the Gate.io NFT Magic Box has lowered the barriers required for an artist to enter the NFT market. This has significantly helped reduce the hustles incurred when marking and selling the art, allowing creators to focus on creating unique artwork.
Gate.io’s GateChain was created three years ago to grow a secure, scalable, and interoperable public chain. GateChain is a next-generation public blockchain that focuses on on-chain asset safety and decentralized trading. GateChain presents a unique clearing mechanism that tackles the challenges of asset theft and critical private loss. This is because the public chain is uniquely designed.