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WAX (Worldwide Asset eXchange) co-founder William Quigley has a vision for the future. One in which an NFT bridge – built by the company – will enable blockchain and NFT marketplaces to thrive despite their different chain types.
Quigley’s vision took a giant leap forward recently has the company announced the launch of its GameFi project, ‘Blockchain Brawlers’, that enables users to transfer NFTs used in the game interchangeably between Binance Smart Chain and WAX blockchain through the NFT bridge developed by WAX.
“The NFT bridge built by WAX can build a future we envision, in which blockchain and NFT marketplaces are accessible to everyone regardless of the chain types,” said William Quigley, co-founder of WAX.
“Blockchain Brawlers” NFT Collection Launches Later this Month
The NFT collection of ‘Blockchain Brawlers’ will be auctioned on Binance NFT Marketplace for the first time on November 30, 2021. Being able to transfer NFTs used in game to other blockchains through bridges will bring the GameFi industry to the next level.
With the free transfers of NFTs, the global mass adoption rate of gaming NFTs will increase. Binance Smart Chain (BSC) is the first blockchain to be connected with WAX and ‘Blockchain Brawlers’ will be the first gaming dApp that enables cross-chain ecosystem for NFTs.
The first batch of ‘Blockchain Brawlers’ NFTs, called ‘Founder’s Edition’, consist of 100 NFTs that come in four different editions: Standard, Hardcore, Cage Match and Death Match. Each of these Brawler NFT will play an integral role in the upcoming ‘Blockchain Brawlers’ play-to-earn game where they will fight for fortune and fame.
In the first phase of the upcoming NFT bridge by WAX and BSC, users will be able to use their WAX Cloud Wallet account to view NFTs that they own on BSC. This NFT bridge will facilitate the transfer of selected BSC NFTs to the WAX blockchain, including Blockchain Brawlers purchased on the Binance NFT Marketplace. The NFT assets will then appear in users’ NFT inventories on the WAX blockchain.
In the second phase, this bridge will provide access to a much larger universe of NFTs on both WAX and Binance NFT. Users will then be able to buy and sell NFTs on both WAX and BSC-based NFT marketplaces regardless of which chain the NFT is originated on. The NFT bridge is projected to go live in the second quarter of 2022.
Following the Binance NFT auctions, there will also be additional NFTs from the game to be auctioned at a later date on WAX.
WAX is the biggest gaming blockchain processing three-quarters of all gaming related transactions while Binance NFT recently launched their new gaming initiative, IGO (Initial Game Offering) to give users early access to the GameFi world. With the launch of IGO, Binance NFT endeavors to build the future of gaming metaverse by offering the largest GameFi NFT trading platform.
Games and additional PFP programs as well as an NFT marketplace compatible with both Binance NFT and WAX NFTs are among the current and future collaborative projects expected to take place between the two companies.
The Worldwide Asset eXchange (WAX), aka the “King of NFTs”, is the world’s No.1 blockchain, as measured by number of users and transactions, according to Dappradar.com. WAX’s mission is to bring NFTs to the mass market in the safest, most secure, environmentally friendly, and easy-to-use marketplace in the world.
WAX is the leading entertainment NFT network – in 2018, WAX introduced vIRLs, giving consumer product companies the ability to directly link NFTs to physical consumer products. WAX has facilitated the trade of more than 100 million digital collectables including Major League Baseball (via Topps MLB collectables), Capcom’s “Street Fighter,” and world-renowned entertainers Deadmau5 and Weezer.
Binance NFT, the official NFT marketplace of Binance, offers an open market for artists, creators, crypto enthusiasts, NFT collectors and creative fans around the world with the best liquidity and minimal fees.
Binance offers three product lines: Premium Events, Mystery Box and a Marketplace. The company is striving to build the first and largest GameFi NFT trading platform for gaming projects via IGO (Initial Game Offering) – featuring core in-game assets from top gaming projects.
Binance schedules quarterly BNB burns to permanently reduce the supply of BNB, in turn, increasing its value. The amount of BNB burned is calculated based on Binance’s overall quarterly trading volume. Quarterly coin burns continue until a total of 100,000,000 BNB are destroyed, which represents 50 percent of the total BNB supply.
Binance Smart Chain is also an individual blockchain, but it isn’t the replacement for Binance Chain, despite it being newer. Binance Smart Chain is actually designed to run alongside the original Binance Chain.