South Korean-based and blockchain-based content platform operator BORANETWORK (BORA) announced Wednesday to establish a cross chain with Polygon to expand the global ecosystem and user liquidity contact points.
As Korea Blockchain Week (KBW 2022), one of the largest blockchain events in Asia just kicked off on Sunday in Seoul. Over 100 stakeholders from the crypto industry join the event.
During the conference on Wednesday, BORA presented its business operation updates by sharing its business directions to the public.
The company announced to speed up its expansion plans and direction of the ecosystem by building a partnership with Polygon, an Ethereum scaling platform, under a theme-based initiative.
In detail, the partnership will facilitate the cooperation between BORA and Polygon by expanding the “BORA portal marketplace ecosystem with Polygon NFT compatibility.” At the same time, Polygon will technically support BORA and help its partners and NFT Ips with the Polygon system.
“We’re delighted to be working with BORA to help them expand liquidity and introduce greater composability to their gaming ecosystem,” said Urvit Goel, Head of Global Games Business Development at Polygon, adding that “By leveraging Polygon, BORA NEXT users will benefit from low fees and fast transactions while tapping into the Ethereum network’s inherent security. Polygon is committed to supporting developers in Korea and looks forward to partnering with the best to grow blockchain gaming adoption globally.”
Per the press release, BORA disclosed its onboarding services will be released in the second half of this year, including METABORA’s BIRDIE SHOT, XL Games’ ArcheWorld and Rising Wings’ COMPETZ, along with the line-up such as a casual battle, BORA Battle (working title), a sports simulation, Baseball the BLOCK (working title) and a screen golf, Friends Screen NFT (working title).
Meanwhile, BORA shared the company has opened its portal, combing all the digital content, including gaming, entertainment and sports, into one spot, attempting to attract about 20 companies renowned in blockchain technology, game and intellectual property (IP) into the governance council, according to the statement.
BORA believes the cross-chain establishment with Polygon will help global users more accessible and is committed to working closely to keep the ecosystem of BORA growing.
Society is headed towards a new form of digital ownership with an economy and greater metaverse based on the blockchain. The concept of “the metaverse” is typically depicted as actual and augmented reality-based in a virtual world. Most recognize this concept since it is present in several fictional movies of dystopian futures like Ready, Player, One, Minority Report and Avatar. However, the concept has since quickly gained attraction from the technology industry, making it more viable than ever before.
The metaverse is seen by many as the natural evolution to what comes next after what people are already doing on social media. Industry experts believe that people are already seeking new places to interact with each other, collect virtual likes and gain recognition. Still, other individuals see the metaverse as an opportunity to live life in a more child-like way, in a setting free from the confines of today’s societal structure.
Currently, no clear definition for a metaverse exists, although developers agree on several attributes as necessary. While many representations of the metaverse are heavily weighted towards games and entertainment, technology experts suggest the metaverse concept must include a lot more than that. Other attributes deemed essential to include a fully-fledged economy and unprecedented interoperability so users can take avatars and goods from one place to another, no matter who is “in charge of a particular section of the metaverse.”
Unfortunately, before the metaverse becomes a reality, there have been some questions about how much interoperability is required. Some believe that a metaverse would require a single operator, while others believe a heavily involved decentralized platform would be necessary.
Although some debate still exists here, one fact continues to ring true: the number of different blockchains has created a complicated ecosystem that will need to be addressed before the metaverse comes to life.
As new use cases become more prevalent, more blockchains have arisen to solve each specific set of needs. While many chains have successfully solved the problems they’ve set out to, numerous solutions have increased the number of isolated chains. The major concern is that data stored on the chain is restricted to the chain or chains they were created on.
In practice, this means users can’t even exchange Bitcoin (BTC) for Ethereum (ETH) without going through a centralized exchange. It is also impossible to send a token like USDT from the Ethereum blockchain to the Binance Smart Chain (BNB), even if both chains support the token. The same is true for any digital asset represented by a nonfungible token (NFT).
More insights from evolution land here
Therefore, as the current blockchain world exists, there is no way for anyone to take advantage of the full benefits of the ledger technology unless users are willing to participate on multiple chains. Furthermore, the lack of interoperability between chains has become added friction for new users who must spend time learning the already new and complex technology.
For blockchain, this means the pressure for cross-chain technologies has grown in response to concerns around reducing the fragmentation of NFT platforms and marketspaces. Technology companies continue to push for interoperability. However, gamers may already be living in a world where an NFT can be traded with anyone regardless of the blockchain they use.
Achieving cross-chain compatibility
The game Evolution Land provides a potential solution to NFT interoperability as a DeFi (decentralized finance) and NFT cross-chain game leveraged by Darwinia Network. According to the team behind Evolution Land, “the multi-chain Web 3.0 world hasn’t come yet, but Evolution Land has created one in the Metaverse.” That said, the game will also operate as a multi-chain NFT gateway, with support for multi-chain NFTs like Crypto Kitties and PolkaPets.
The game can be described as a cross-chain, business game and virtual simulation. In it, users can buy and sell property, govern their space, grow crops and create buildings, collect and trade NFTs, hire others to help mine elements on their land across 26 continents, each representing a different blockchain. Currently, five continents exist, including one on Ethereum, known as the Atlantis Continent and another built on Tron (TRX). Players must abide by governance parameters, including a trade tax rate. However, this will be set by the players.
Each player uses Avatars called Apostles, which can be purchased using RING, the game’s native utility token. Apostles each have their own unique genes and talents that determine their abilities, much as people do in the real world. Healthy apostles can even breed healthy offspring whose genes are determined based on the parents’ genetic algorithms, meaning they can also inherit any genes or mutations from their parents.
Taking advantage of play-to-earn mechanics, players gain the opportunity to use these Apostles to mine resources, own NFT land and use NFT mining tools called “Drills.” Users may choose to hold their NFTs or sell them in the marketplace for funds that can be converted into cash in the real world. Furthermore, 70% of the revenue earned by the game will be shared with the players, meaning the entire community has the opportunity to share in its success.
More than ten projects have announced plans to build communities in Evolution Land to present project information and give back rewards to the community fans. The result is that to date, the game’s DeFi farm APR reached over 1000% and resource token prices have increased 20-60 times.
Now recognized as one of the top 15 ETH game projects by volume, the team continues to seek out big updates over the next year. Designed to be both self-evolving and scalable, any developer will have the opportunity to build their DApp in the Evolution Land game and evolve the game long into the future.
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