We’re excited to announce that NFT Bridges is officially joining the Chainlink BUILD program. As a part of BUILD, we aim to accelerate ecosystem growth and long-term adoption of cross-chain NFT use cases and expanded NFT liquidity by gaining enhanced access to Chainlink’s industry-leading oracle services and technical support. Additionally, we aim to incentivize greater cryptoeconomic security in exchange for a commitment to provide network fees and other benefits to the Chainlink community and service providers, including stakers.
Our participation in BUILD furthers our integration with Chainlink, with added benefits of priority support from the Chainlink ecosystem, increased access to dApps needing cross-chain NFT support, and stronger incentive alignment between the Chainlink and NFT Bridges communities.
We’re confident that through enhanced support, secure off-chain services, and the backing of Chainlink’s vibrant community, we can accelerate awareness of cross-chain NFTs and realize the adoption of a highly liquid, blockchain-abstracted NFT ecosystem.
NFT Bridges: Expanding NFT Liquidity and Accessibility
NFT Bridges is an NFT infrastructure protocol aiming to make NFTs more liquid and interoperable, particularly by making NFTs easily transferable across blockchains. Currently, NFTs are largely bound to the blockchain that they were initially minted, and to go cross-chain, NFT teams often spend months just to migrate from one chain to another.
The vision of NFT Bridges is to make cross-chain NFTs a universal standard such that all NFTs are easily transferable and tradable across any chain in a secure and seamless manner.
Why We Joined Chainlink BUILD
NFT Bridges joined BUILD to maximize the benefits of security and reliability that Chainlink’s oracle infrastructure provides. As part of BUILD, NFT Bridges will receive key benefits, including access to and integration of Chainlink CCIP to securely underpin our NFT bridging applications, Price Feeds and VRF to help gamify onchain rewards, Functions to trigger critical onchain functions based on offchain computation and data, and access to new Chainlink product alpha and beta releases, among other benefits.
In exchange for these services, NFT Bridges will make 6% of its Teleport native token supply available to Chainlink service providers, including stakers, over time. These mutually aligned economic incentives enable both communities to support one another. Additionally, NFT Bridges will bring Chainlink into the realm of non-fungible tokens instead of just fungible tokens.
“NFT Bridges aims to make NFTs truly liquid, seamless, and interoperable, and that requires using industry-standard infrastructure. The Chainlink platform will play a critical role in making sure the products and services that NFT Bridges offers are secure, reliable, and seamless. We’re very excited to be joining the prestigious Chainlink BUILD program, and we look forward to welcoming the passionate Chainlink community.”—Ilan Klein, Co-Founder of NFT Bridges.
About Chainlink
Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $10 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.
About NFT Bridges
NFT Bridges has developed technology that allows NFTs to be transferred between six major blockchains–with more on the way–enhancing the interoperability of the Web 3 space. We don’t just transfer NFTs from one blockchain to another. Our bridges allow participants to leverage their digital assets in ways they never could before. Collections can now launch simultaneously on multiple chains, potentially leading to quicker sell-outs. Collectors can move their NFTs to chains that offer more attractive investment opportunities or the release of up-and-coming tokens. Investors can diversify or consolidate their portfolios as needed, working in tandem with markets on the fly. This mobility leads to a more productive and proactive relationship with Web 3. Instead of waiting and waiting for the stars to align, people can take control of their own destinies.
Additionally, NFT Bridges is introducing the Teleport governance token, a key element in decentralizing our bridge network through a robust system of cross-chain validators. Teleport token is not just a digital asset; it’s a catalyst for community empowerment and platform functionality. By staking these tokens, users gain access to unique opportunities, including participation in a specialized liquidity pool. This pool allows NFT holders to secure loans using their NFTs as collateral, adding new utility to their digital assets.
Moreover, the introduction of this token will significantly accelerate the adoption and usage of our bridges. It represents more than just a means of transaction. Teleport token is a tool for facilitating greater involvement and investment in the NFT Bridges ecosystem, driving both growth and decentralization.
