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Sunday, September 25, 2022

Harmony introduces Bored Ape Yacht Club NFT Passport.

Bored Ape Yacht Club Passport was launched by blockchain platform Harmony – which runs on Ethereum’s mainnet and claims two-second transaction finality and 1,000 times lower fees than Ethereum. In DeFi Kingdoms, a play-to-earn game built on the Harmony blockchain with over 120,000 monthly active users, users can import proofs of their apes from the Passport. In the initial stages of the game, Ape holders will be able to verify and display their assets across multiple blockchains when they connect their MetaMask wallet to DeFi Kingdoms.

As a result of the infancy of cross-chain technology, funds could be at risk when bridging across chains, as was shown by the biggest decentralized finance hack to date. However, Harmony’s Passport does not move assets; instead, it proves ownership across multiple blockchains, ensuring their authenticity. Horizon is a cross-chain bridge that currently supports interoperability between Harmony, Ethereum, BNB Chain, and three other blockchains.

Leo Chen, a team member at Harmony, explained:
“We wanted to give all NFT holders more utility and options to display their NFTs and participate in the Metaverse. Bored Ape Yacht Club holders are the first choices. The cross-chain identity creates a secure and easy way to do so without putting their assets at risk.”

Last month, Twitter kicked off a similar campaign in which its paid subscribers could show off their NFT possessions as profile pictures. The technical components of the feature, however, are still being tested, and only Ethereum-based NFTs are eligible. Cross-chain functionality is not yet supported.

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