IoTeX-minted NFTs, some of the most unique in the industry, are now more sellable because the blockchain-powered IoT-centered startup teamed up with XP Network to enable a bridge for the collectible digital assets across Ethereum, Binance Smart Chain, and Polygon.
The partnership enables IoTeX NFT holders to leverage the XP Network multichain bridge to access the most prominent digital collectibles marketplaces, such as OpenSea, Axie Infinity, Rarible, Superare, Mintable, Foundation, and Crypto Punks (Larva Labs). It also significantly increases IoTeX’s NFT capabilities and advances its MachineFi vision providing the top blockchain multi chain project with a direct path to previously inaccessible ecosystems. The partnership could become the most significant technological leap of the century.
“IoTeX is the natural and most welcomed paradigm shift the blockchain world brings to our life. It represents the decentralized world’s quest to reach its full potential,” said XP Network CEO Nir Blumberger. “We are thrilled and eager to work with a partner that takes such a real hands-on approach on this quest.”
Early last year, IoTeX kicked off the development of the proof-of presence (PoP) protocol. It is based on verifiable real-world data from its blockchain-powered Pebble Tracker device, allowing developers working with blockchain and IoT to use verifiable real-world data owned exclusively by the device holder.
IoTeX Business Development Head Larry Pang said the Pebble is a device that can capture and cryptographically sign real-world data such as location, climate, motion, and light. It achieves this using a built-in secure element —similar to those used in smartphones for FaceID and cryptocurrency hardware wallets for private keys.
Pang said Pebble technology enables users to “use verifiable GPS data to mint NFTs that prove you were at a certain place at a certain time. This technology verifies the proof of presence of a person,” he added.
“A lot of the use cases of NFTs are about clout — ‘I have this, I’m the owner of it’ — even though you can see this JPG on the internet. The next step for NFTs is not to prove you have a reputation that’s transitive from someone else but if you have a reputation that says, ‘I have a collection of NFTs that were only mintable under verifiable conditions.’ It’s a level of verifiability that truly connects the physical and digital world in a new way.”
XP Network is creating solutions to turn the growing NFT market into an accessible and easy-to-use place. One of its most notable tools is its first-of-a-kind chain-agnostic bridge, which enables NFTs and funds to flow freely between networks and wallets while avoiding complications like currency differences and token standards.