Why Interoperability is so Important for NFT

Interoperability is the seamless transfer of data between different Blockchains. When multiple Blockchains are interoperable, they are able to communicate with each other. NFT interoperability therefore means that NFTs can be seamlessly shared and exchanged between different Blockchain networks and applications. Currently, the industry is far from achieving true Blockchain interoperability.

The lack of interoperability is one of the major obstacles preventing a seamless Web3 experience. The multi-chain nature of the NFT ecosystem is perceived as flawed by many NFT holders, as they have to switch between different chains to use, track or exchange their assets. This process involves a technical understanding of crypto wallets and other interfaces, which can be complex for many users. Interoperability pitfalls are of particular concern to blockchain gamers, as they cannot move in-game NFT assets from one game to another. In addition, players spend significant amounts of money and time acquiring these assets. However, in return, they remain tied to specific Blockchain games. The development of NFT marketplaces is not brilliant in this regard. In an ideal world, they could allow NFTs to be offered, listed, bought and sold on any chain. Currently, most marketplaces only work for a specific Blockchain. Magic Eden is a marketplace for Solana NFTs while CNFT is specific to Cardano. Some marketplaces allow multiple Blockchain NFTs, such as Rarible, which supports Flow and Polygon. However, even in such marketplaces, they minimize the use cases. So, to put it simply, NFTs are the crux of interoperability. As long as they are not together, it will not be possible to fix the specific part and the part that seems to be flawed.   Source: nfxhaber.com Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!