Holograph has announced its NFT bridging solution in partnership with Layer Zero, which will allow NFTs to beam across blockchains with complete data integrity.
The ‘holographic onmichain’ solution will enable unprecedented levels of cross-chain NFT interoperability.
Holograph, by integrating LayerZero, will deliver its patented bridging solution with persistent smart contract addresses and token IDs.
This unique bridging process makes use of LayerZero’s lightweight cross-chain messaging.
CEO of Holograph, Jeff Gluck said: “Holograph’s omnichain NFT infrastructure brings exciting new use cases for creators, developers, and enterprises. We are excited to work with Layer Zero’s incredible team to launch our protocol and deliver a giant leap forward in blockchain interoperability.”
In the holographic process, the original NFT is seamlessly beamed onto a new chain with all of its data left intact, with no ‘wrapping’ necessary.
Wrapping refers to when an NFT is bridged from one blockchain to another and becomes locked on the origin chain. As a result, an entirely new NFT is minted on the destination chain.
In effect, this process is analogous to a photocopy of an original artwork.
If this process is repeated and the NFT is moved onto a third blockchain, another ‘synthetic NFT’ is created. According to Holograph, this complicates the record of ownership and tracing authenticity.
Moreover, holographic bridging reduces the number of transactions required to bridge an NFT.
Thus, the process eliminates the need to manage multiple gas tokens to execute transactions.
Holographic bridging also empowers creators to take advantage of the cheaper transaction costs.
Indeed, creators can mint an NFT on one chain, then bridge that token onto another chain with more liquidity.
Furthermore, the omnichain solution allows chain-specific NFT properties that can be updated dynamically.
CEO of LayerZero, Bryan Pellegrino, said: “LayerZero is excited to support Holograph as its cross-chain messaging solution. Their Omnichain NFT infrastructure aims to unlock a frictionless NFT user experience, onboarding the next wave of crypto users.”
Finally, the Holograph solution enables omnichain NFT marketplaces.
This will allow traders to collect NFTs from multiple chains, without needing to acquire the native gas tokens for each one.
Holograph provides omnichain NFT interoperability infrastructure for creators, developers, and enterprises. The holographic omnichain solution, which integrates LayerZero, is part of its mission is to unlock NFT interoperability for the entire web3 ecosystem.
