Serving NFTs a Unique Network

In the first chapter of NFTs, Ethereum, the chain that served as a sandbox for their development, has been frustratingly overwhelmed already. As a result, minting NFTs and operating marketplaces are filled with slumbering delays, horribly high gas fees, and other hindrances, which restrains the development and outreach NFTs concurrently.

However, the enthusiasm towards NFTs cannot be kept within limits. OpenSea, one of the biggest NFT marketplaces, has been taking the largest portion of gas fees consumed recently, which adds up to over 400 ETH, which accounts for over 5% of the on-chain gas fee expense in the last 24 hours.

It’s more than just an emotional spurt for NFTs. The concept of NFT has an enormous vision and countless use cases in the future, or to be more specific, NFTs may be the primitive portal for us to the metaverse. By then, NFTs may well be our essentials.

The original carrier of NFTs, Ethereum, has been given Polkadot as one of its scalability solutions. What about NFTs then? That is where Unique Network kicks in. Unique Network is an infrastructure that will make the next chapter of NFTs a gripping read. The network was developed out of an acute need for NFT platforms to find solutions for the existing barriers to entry in this sector: costly and cumbersome gas fees, high knowledge threshold of blockchain, scalability concerns, and sustainability concerns revolving around Ethereum’s governance protocol, solutions, and ownership management of NFTs for all parties.

As the first custom parachain explicitly designed for NFTs on Polkadot and Kusama, Unique has created a viable solution through its novel NFT pallet design and ownership restructuring, which address these impediments presented on Ethereum, and it offers developers independence from network-wide transaction fees and upgrades as well.

Unique Network intends to be part of building a more efficient, sustainable, scalable, and completely customized experience for the continued future and growth of the NFT market. To realize that Unique Network, being so much better than what’s out there right now, holds some distinctive features in hand.

• With the flexible economic models of Unique Network, users will be able to choose how to present their NFT marketplace to the customers, which makes the experience of customers interacting with freemium gaming and fluid subscriptions in the marketplace more smooth.
• Unique Network, compared to Ethereum, will operate with a much lower carbon footprint, as it is built for the Polkadot relay chain with PoS. Users will be able to mint NFTs without making a negative impact on the environment.
• To satisfy diversified needs for NFTs, such as launching an NFT gallery, marketplace, wallet, or simply minting, Unique Network has designed an open-source white-label marketplace that is fully customizable.
• Through Unique Network’s ownership management, administrative, and whitelist technology, users’ NFT can be rented, displayed, managed by delegated parties like any other form of digital assets. Alternative types of NFTs which are re-fungible can be shared and distributed at the owners’ will, which reinforces and promotes innovations in the peer-to-peer creative economies.
• Unique Network creatively comes up with the idea of communication and interconnectivity among NFTs themselves, which intends to detonate the Cambrian explosion of NFT experimentation and unbounded possibilities by enabling dynamic NFTs to interact with each other.
• Built on Substrate, Unique Network frees developers from the fear of network congestion, scalability, or high gas fees. Thanks to the properties of Substrate, greater interoperability with other Substrate chains is guaranteed by Unique Network, and the realization of fully heterogeneous multichain interoperability seems promising concurrently.

To expand its developing NFT universe, Unique Network has officially formed a strategic partnership with RMRK Association to expand the capabilities of non-fungible tokens across blockchain ecosystems. Unique Network and RMRK formed this partnership to not only expand the scope and vision around what NFTs can do but also address the scalability and network congestion plaguing Ethereum. Given that Ethereum was built to be a network for fungible asset classes, the introduction of NFTs on Ethereum has caused gas prices to skyrocket, inhibited education to new crypto adopters, and ultimately limited its utility. This partnership demonstrates the first cross-project example of NFTs from different blockchains layer in their design in a way that expands their utility, usability, scalability, and functionality for the broader metaverse by surpassing the ERC-721 and ERC-1155 standards.

Moreover, Unique Network serves as the bond between NFTs and the real world, as NFTs serving as the bond between crypto and the real world. Unique has been chosen as Blockchain Partner for United Nations associated NFT Climate Initiative. The initiative aims to empower young artists, designers, and activists worldwide to create digital art that can inspire people worldwide to take action against the climate crisis while introducing them to NFTs, an emerging technology that has the ability to liberate artists globally by allowing them to monetize their work in ways that have not been possible before.

In the months to come, Unique Network will launch on Kusama and Polkadot, and focus on bootstrapping the creation of a new generation of innovative NFT solutions for art, gaming, and many other use cases. Whether you’re a game developer, fashion designer, gallery owner, collector, or looking for essential and advanced NFT tools, Unique Network is the destination and infrastructure created directly for you.