Tuesday, May 24, 2022
HomeNFT NewsHarmony launches Bored Ape Yacht Club NFT Passport

Harmony launches Bored Ape Yacht Club NFT Passport

The upcoming NFT Passports will also support cross-chain support.

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Harmony launches Bored Ape Yacht Club NFT Passport

On Friday, blockchain platform Harmony — whose mainnet runs on the Ethereum network, claiming to have two-second transaction finality and fees 1,000 times lower than Ethereum — announced the launch of its Bored Ape Yacht Club Passport. The Passport enables users to import proof of their apes into DeFi Kingdoms, a play-to-earn game built on the Harmony blockchain with over 120,000 monthly active users. Ape holders will have the ability to verify and display their assets across multiple blockchains in the initial stages of the Passport. They can connect their MetaMask wallet with DeFi Kingdoms to do this.

The infancy of cross-chain technology means that funds could be at risk when bridging across chains, as the biggest decentralized finance hack thus far this year showed. According to its developers, Harmony’s Passport doesn’t move assets. Instead, it proves asset ownership across multiple Blockchains, ensuring their authenticity. Horizon, the cross-chain bridge that allows interoperability between Harmony and Ethereum, BNB Chain, and three other blockchains, is currently supported.

Leo Chen, a team member at Harmony, explained:

“We wanted to give all NFT holders more utility and options to display their NFTs and participate in the Metaverse. The first choice is Bored Ape Yacht Club members. The cross-chain identity creates a secure and easy way to do so without putting their assets at risk.”

In a similar gesture, last month, Twitter kicked off its nonfungible token campaign, allowing its paid subscribers to show off their NFT possessions as profile pictures. The technical functionality of the feature is still in testing. It only supports Ethereum-based NFTs and does not support cross-chain functionalities.

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Henry Hicks
Henry Hickshttps://nonfungibletalk.com
NFT and Crypto Enthusiast. Loves Travelling and Exploring the Metaverse!
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