The first NFT chain of Polkadot and Kusama, Unique Network provides greater flexibility for all those who want to build their own galleries or video games.
According to Yahoo Finance’s May 20 news, Polkadot and the Kusama ecosystem’s next-generation NFT public chain Unique Network announced that the first round of pre-sale financing raised $4.3 million, led by Web3 investment pioneer Outlier Ventures, Animoca Brands, DFG and other institutions participated in the investment. The new funds will be used to develop and grow the community, eventually launching Polkadot and Kusama’s Unique Parachain, and stimulate growth through open source basic modules, allowing anyone to create an NFT trading market without authorization.
Unique Network co-founder and CEO Alexander Mitrovich has been leading and planning to use the funds raised to catalyze growth since the platform was established. He said:
The biggest problem with NFTs is that Ethereum is not built for non-fungible tokens (NFT), it is a network that can replace token assets. The Unique Network was created to solve the gas problem, reduce educational barriers, and expand NFT interoperability, so that NFTs can no longer only be seen from afar but can also participate. We are building an architecture that allows NFTs to interact with each other so that non-traditional users can easily understand and interact. This is the only way for the next iteration of NFT.
Problem: The first generation of NFTs is overwhelmed
Unique Network is an infrastructure that helps the next generation of NFT to flourish. The development of the network stems from the urgent need for the NFT platform to solve the existing barriers to entry in the industry-expensive and cumbersome gas fees, high thresholds caused by blockchain knowledge, scalability issues, and the feasibility of the Ethereum governance protocol Persistent problems.
Solution: NFT for everyone
As the first parachain explicitly designed for NFT on Polkadot and Kusama, Unique has created a feasible solution through novel NFT pallet design and ownership reorganization. Improvements in interoperability and governance structures will allow users to generate their own collections of NFTs, royalties and markets. At the same time, Unique Network has released an open source component library, and anyone can start a custom NFT minting solution, wallet, and gallery in order to participate in the “metaverse” metaverse.
Jamie Burke, founder and CEO of Outlier Ventures, said:
The current NFT boom has prompted many retail investors to invest in a single NFT, hoping to double its value. This has no meaning for mainstream adoption of NFT technology. Just as the impact of DEFI reform is not limited to the banking industry, NFT technology can transform dozens of industries. The innovative ideas proposed by Unique Network help this technology to be implemented and provide opportunities for community-driven NFT e-commerce.
Robby Yung, CEO of Animoca said:
We are very excited about Unique’s ability to improve the functionality and interoperability of blockchain games and NFTs. Hope this will be another milestone in providing property rights to gamers.
In the next few months, Unique Network will be launched on Kusama and Polkadot. The platform will focus on creating a new generation of NFT solutions for art, games and many other use cases.