LayerZero protocol unlocks infinite possibilities for innovation.
When Stargate protocol TVL reaches $4Billion+, Ethereum NFT trading volume reaches $56Billion+, and Starshark SSS holder reaches 40K, what can we do?
Dilemma: Single Chain NFT & GameFi
In the current single-chain NFT GameFi market, there is a conflict between the value of GameFi NFT and the gaming experience. We will explain this dilemma by comparing the Ethereum GameFi NFT with GameFi NFT on EVM-Compatible chains.
NFT
- Ethereum Mainnet: NFTs are luxury, with a higher cost, value, price, and attention. People are willing to pay for the art value and added value. The NFT players and trading volume are huge.
- EVM-Compatible Chains: There’re fewer NFT players and lower popularity on EVM-Compatible Chains. The value loss of NFTs is quick. NFT value of EVM-Compatible chains is more distributed in functional utility rather than artistic value (looking good does not impress users, making money is fine)
Gaming Experience
- Ethereum Mainnet: The high gas fee determines that the gaming mechanism cannot be too complicated; the gaming interactions are simple, mostly texting and idle games. It’s hard to build an enjoyable gaming experience on Ethereum.
- EVM-Compatible Chains: The cost of gaming interactions is much lower than Ethereum. Players can interact more with the gaming content. Unluckily, most games are ponzi-style games; there’s a huge potential for content creation.
In summary, it is challenging to build a recognized NFT and enjoyable game simultaneously on Ethereum or EVM-Compatible Chains.
What can we do?
Imagine: A LayerZero-based solution
LayerZero is an Omnichain Interoperability Protocol designed for lightweight messages passing across chains. LayerZero provides authentic and guaranteed message delivery with configurable trustlessness. The protocol is implemented as a set of gas-efficient, non-upgradable smart contracts.
To solve the dilemma mentioned above, we can try the following solutions:
- NFT minting and trading on Ethereum
- Gaming interactions built on low-gas-fee EVM-Compatible chains like Avalanche, Fantom Network, BNB Chain
- Using LayerZero protocol to realize NFTs traveling
Here’s the potential benefit of these solutions:
- Providing value protection for NFT assets while helping users to trade in large NFT marketplace such as OpenSea, LooksRare
- Enriching players’ game experience by setting the gaming content part in the EVM-Compatible chains can significantly reduce transaction fees and create more possibilities for gaming
- Designers can create more special game content based on the specific chain
- Cooperate with chain-native protocol to attract more users joining the game
- more possibilities…
These solutions are a massive challenge for smart contract development, cross-chain security, and gaming mechanism design.
Catddle: 1st Omnichain NFT Cat Raising Game
As omnichain NFT GameFi pioneers, we’re working on building the first omnichain NFT GameFi — Catddle.
Catddle will implement the solution envisioned above by developing NFT smart contracts using the innovational ERC721-O protocol.
ERC721-O is an extension of the ERC721 protocol compatible with the LayerZero-based cross-chaining scheme. It adds a non-blocking extension of NFT cross-chaining, enabling NFTs to maintain the same properties and state as the starting chain after cross-chaining. (We’re going to explain the ERC721-O in detail and make it open-source recently)
As a result, Catddle NFT will be able to securely and freely travel across EVM compatible chains and continuously update status data.
All this is just the beginning…
If you’re interested in Catddle, follow us on Twitter and visit our website. We’re also welcoming people to join the game and community building.
- Twitter：https://twitter.com/CatddleNFT
- Website：https://catddle.com/
