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HomeNewsThe next generation - RMRK takes off with Advanced NFTs

The next generation – RMRK takes off with Advanced NFTs

Zug, Switzerland – The RMRK crypto project, which specializes in Advanced Non-Fungible Tokens (Advanced NFTs), has now officially started with the Kanaria NFT project, which at the same time heralds the next generation of NFTs.

“The long-awaited starting shot for Kanaria was received very benevolently by the community, and Bruno, who is ahead of his time, has achieved with the RMRK standard on Kusama what other NFT projects on Ethereum are still trying desperately,” said investor Mahalleinir Exuberantly commented on by D1 Ventures.

Let’s take a look back: In March 2021, RMRK held an “Initial Collectible Offering” under the name “Kanaria”. The introductory NFT sale drove a crowdfunding approach for the first time, which brought $ 6 million into the project’s coffers. The participants acquired 8,500 of the 9,999 available NFT eggs.

The innovative feature of the on-chain emojis enabled buyers and observers to clarify their reactions to the NFTs, which in turn changed the look, feel and functionality of the “canaries” that were supposed to hatch from the “eggs”. In September, the eggs developed into Advanced NFTs, which are located on the Kusama blockchain, Polkadot’s canary network.

“The RMRK-NFTs are naturally connected to all chains that have a connection to the [Kusama] Have a relay chain. They are therefore equipped with a multichain function as standard, ”explains RMRK project founder Bruno Škvorc.

With the new release, Kanaria is now advancing to a full NFT ecosystem that even has a secondary market where items (such as outfits and backgrounds) can be traded between the owners of the hatched NFT birds. It is also planned to launch more compatible NFTs in the future.

The RMRK team does not want to rest on the success of Kanaria, of course, but wants to make the RMRK 2.0 standard available on all substrate ecosystems and in the future even to bring it to virtual machines for Ethereum such as Polygon and Moonriver.

Thanks to strong partnerships with some of the largest parachains and projects on Polkadot and in the Kusama ecosystem, the RMRK standard for NFTs 2.0 is in a prime position to become the first unofficial shared runtime environment in the Polkadot network. This means that non-fungible assets can be teleported to and from any supported chain without any problems and almost free of charge. In addition, the multichain functionality and development capability of these new NFTs open up completely new avenues for the entire industry.

In this context, Škvorc explains:

“Imagine you’re developing an NFT game and you can easily reuse existing NFTs by adding new resources. This would give this infinite liquidity and would always be compatible without having to be specifically aligned to it. For example, you could put an outfit with a brand name on a Cryptopunk NFT. The range would be unimaginable! “

You can find more information about RMRK here, on Kanaria you can try it out here and you can access the official minting and trading interface called Singular here. You can see a live demo of how Kanaria works here.

You can reach the RMRK team by email, Telegram or Twitter. You can find more information about the project on the associated blog on Subsocial.

This is a sponsored press release Cointelegraph assumes no responsibility or liability for any content, accuracy, quality, advertising, products, or other materials on this site. Readers should do their own research before taking any action regarding the company. Cointelegraph is neither directly nor indirectly responsible for any damage or loss incurred, and there is no liability whatsoever for damage caused by the products, services or content advertised in the press releases.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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