Empower users to bridge NFTs securely and trustlessly across different chains by leveraging the GMP capabilities.
About
Unlock the Possibilities
Most smart contract-based platforms, like Ethereum, associate an NFT with a token ID and a smart contract address. To enable NFT transfers between users and enable user queries, the issuing smart contract maintains a map of NFT owners.
In a multi-chain ecosystem, where the same NFT needs to be issued on multiple chains (such as Ethereum, Solana, and Avalanche), the key challenge is determining the provenance of a given NFT. For example, it is difficult to determine the actual owner of a given NFT and the transfer record if the NFT exists on multiple chains.
With Analog Network, you can now build a multi-chain NFT provenance DApp that proves the ownership of an NFT through burn and mint mechanisms.
USE CASES
Our Use Cases
Peruse a broad spectrum of problems that Analog solves.
DEFI
Cross-chain DEX
Use GMP to build an out-of-the-box cross-chain DEX capable of facilitating quick token swaps across various chains, providing users with seamless access to a diverse range of tokens.
Use GMP to build a cross-chain lending protocol, enabling your users to securely deposit collateral (e.g., ETH) on one chain and borrow another token on another blockchain.
Use GMP to build cross-chain yield aggregation protocols that enable investors to optimize returns on their assets while eliminating the costs and hassles of daily trading.
NFTs are increasingly demonstrating their applicability in representing IP rights, such as patents, copyrights, and trademarks. With cross-domain NFTs, NFT holders can efficiently and transparently transfer IP rights and licenses across various blockchains without being restricted to a single blockchain.
NFTs
Art and collectibles
Cross-chain NFTs can allow artists and collectors to tap into distant user bases by transcending the restrictions of their specific blockchain networks. For example, you could create an NFT that is transferrable between different marketplaces, allowing them access to a broader user base and increased liquidity.