Blockchain platform Harmony, which runs on the Ethereum network, has announced on Friday that it has launched its Passport featuring Bored Ape Yacht Club or BAYC, which is expected to be coming in movies. The newly released Passport enables users to import proof of their apes into the Decentralized finance (DeFi) kingdoms, a play-to-earn game developed on the Harmony blockchain and has more than 120,000 monthly active users.
When Ape holders connect their MetaMask wallet to DeFi Kingdoms in the initial phases, they will be able to validate and showcase their assets in the game across various blockchains.
Harmony aims to provide solutions to existing problems
Harmony claims to have two-second transaction finality and charges a fee, which is 1,000 lower than Ethereum. Because cross-chain technology is still in its early phase, funds may be at risk when bridging between chains, as the biggest decentralized financial attack of the year demonstrated. Harmony’s Passport, on the other hand, does not shift assets; rather, it confirms asset ownership across different blockchains, ensuring their legitimacy throughout.
Horizon, the company’s cross-chain bridge, presently supports Harmony, Ethereum, BNB Chain, and three more blockchains.
“We wanted to give all NFT holders more utility and options to display their NFTs and participate in the Metaverse,” Leo Chen, a Harmony team member, noted. “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,” he added.
Social media platforms race
In a similar move, Twitter launched its NFT campaign last month, allowing its paid subscription members to display their NFTs as profile pictures. However, the feature’s technical capabilities are still being tested, with only Ethereum-based NFTs eligible and no cross-chain functionality. Other social platforms like OnlyFans are also trying their hands on NFTs.
The number of companies entering cross-chain space is increasing. DEX platform THORChain network signaled the relaunching of its activities after the shutdown.