New Trends in the NFT Field: Cross-Chain Applications and Unique Artwork

With the continuous innovation of blockchain technology, the application scenarios of NFTs are continuously expanding. Users accessing NFTs across chains and new use cases such as the 1:1 NFT concept have sparked a wave of enthusiasm in this field. Some platforms are actively enhancing the cross-chain access capabilities of interconnecting contract NFTs, creating new opportunities for NFT usage on other blockchains.

A certain blockchain network has become a diverse and active ecosystem, natively supporting NFTs based on the ERC-721 and ERC-1155 standards, which can be used for cross-chain interconnected smart contracts. This means that Ethereum-compatible NFTs can be displayed and used on a single platform without cross-chain transfer. This flexibility will have a profound impact on the application of NFTs in various fields such as gaming, the metaverse, and art collectibles.

With the emergence of the next generation of user-friendly applications, fragmented cross-chain functionality and user experience issues are expected to be resolved, making cross-chain transfers between NFTs and Ethereum potentially unnecessary.

New Trends in the NFT Market

Several well-known multi-chain NFT markets are already exploring the possibilities brought by recent innovations. As a cross-chain interconnect application platform that can access users and services on any chain, a certain blockchain has become the ideal choice for NFT markets to reach users across multiple blockchains.

A team member from the NFT market stated: "We support over 30 chains, and a certain blockchain is one of the very important ones. There are numerous projects deployed on it, and their quality is relatively high. This chain also allows us to connect with many strong communities, which is crucial for the development of NFT projects. We will continue to fully support the development of this chain, which will contribute to the overall growth of the NFT market."

Another multi-chain NFT marketplace representative explained: "We support a certain blockchain network because it has strong compatibility and interoperability, which provides long-term development potential for NFTs on that chain, especially for 1:1 NFTs."

A certain NFT trading platform leader stated: "We firmly believe that cross-chain and multi-chain are the future development directions. We are pleased to work together with the development team and its community to create value on its chain and collectibles, which will be the key to future success."

A certain blockchain is integrating functionalities from ecosystems such as Ethereum, Cosmos, and Polkadot to address the current issue of fragmented user experience, achieving true interoperability and laying the foundation for next-generation applications. Enhancing the user experience is key to driving wider adoption, and the NFT space is one of the effective avenues to achieve this goal.

The Value and Applications of NFT

NFTs exist on the blockchain and have unique identifiers. They are non-fungible, which means that two NFTs cannot be exchanged for one another. The non-fungibility of NFTs has given rise to a market centered around collectibles.

NFT can take various forms such as photography, music, digital art, collectibles, 1:1 artworks, tickets, memberships, game avatars, and domain names. NFTs can include generative art, original art, or a series of images. Creators can choose how, where, and how many NFTs to mint based on the intended use.

The value of NFTs comes from community demand and scarcity. Similar to traditional artworks, "rarity" makes holding NFTs extremely valuable. NFTs can also provide utility functions, such as access to specific communities, the metaverse, and games. In some cases, NFTs can also be used as collateral.

With the expansion of Web3 possibilities, new use cases for NFTs are continuously emerging. NFTs may be used to represent tradable portfolios, assist in royalty distribution, prevent fraud, support staking in decentralized finance, and more.

The success of an NFT project relies on the support of the community. NFTs, especially 1:1 NFT art, are becoming a bridge between the traditional art world and blockchain digital art. As more people recognize the potential of NFTs, online communities are bringing more users into the Web3 world.

The Rise of 1:1 NFT

When minting an NFT, creators can choose to issue a series or single/multiple versions of their artwork. When a single artwork has only one version, this type of NFT is referred to as a 1:1 NFT.

Unique 1:1 NFTs often have a higher market value than series NFTs, which drives the growth of demand. Another reason to pay attention to 1:1 NFTs is that these works often come from artists who bring their fans and communities into the market, which not only increases market demand and interest but also demonstrates the importance of a familiar purchasing and trading experience. Furthermore, unique additional benefits may further enhance the influence of 1:1 NFTs, such as offering VIP privileges for events or physical artworks.

The 1:1 NFT model is changing the NFT space and is expected to address a range of issues such as how to pay royalties to artists and how fans can purchase artwork. A certain NFT marketplace focuses on providing users with creative freedom, dedicated to "building a fully functional product from the very beginning to create a simple, easy, and exciting experience for users."

The platform's head stated: "We have designed various NFT creation features, including 1:1 NFTs. These unique NFTs will benefit from all current features as well as new ones that will be launched soon. Our goal is to support a variety of creations, allowing users to focus on their art, games, brands, or other visions. We provide technical support to enable them to concentrate on the experience itself."

The Artist's Web3 Journey

1:1 NFTs may be limited in number, but they introduce the community as part of the "fan" journey into Web3. This is a collaborative experience that bridges the gap between the art world and the community that supports it. The experience of artist Angela Pencheva is a typical example of this process.

Angela Pencheva is an artist, NFT creator, and designer, currently working on her first 1:1 NFT project. Living in Sofia, Bulgaria, Pencheva was introduced to NFT projects while working as a UI/UX designer, which ultimately led to her paintings being featured in two successful NFT projects.

Traditional artists are migrating their communities to the Web3 space through 1:1 NFTs. From this perspective, as more users open cryptocurrency wallets and use these currencies for transactions, 1:1 NFTs are likely to drive broader adoption of blockchain technology.

Artists interested in the NFT space can seek collaboration while transitioning from Web2 to Web3. Although learning technical terms, the minting process, gas fees, and other knowledge is quite challenging, Pencheva still believes that entering the NFT space is one of the best experiences of her career.

The entry of physical art and its fans into the digital realm marks a shift in how people use NFTs and potential future developments of NFTs. The focus of NFTs is no longer solely on obtaining short-term profits through the buying and selling of simple digital images and randomly generated artworks, but rather on the quality of these works and the authenticity of the artists.

Building a cross-chain NFT ecosystem

A certain blockchain platform has played a key role in helping artists transition to Web3. According to Pencheva, it was the unique interconnected contract strategy that ultimately led her to choose this platform.

"As an artist, I don't want to limit my NFTs to a single blockchain. With interconnect contracts, I can significantly reduce the risk of choosing an NFT publishing platform, because as long as they are on this platform, they can interact with other chains," Pencheva explained.

The support from this ecosystem and the entire community has also attracted Pencheva. She stated: "Everyone has been very open and supportive of me, and they are all willing to help, which is perfect for newcomers like me."

As user-friendly applications continue to evolve, interoperability between blockchains will be simplified, and 1:1 NFTs are expected to drive the widespread adoption of blockchain technology, including in the art world. The practical application of cross-chain interconnection contracts, as well as Web3 concepts such as NFTs, decentralization, and community, will continue to propel the development of the entire ecosystem.