X-404 and XRGB protocol may reshape NFTs
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X-404 and the XRGB protocol are powerful tools allowing users to deposit any NFT into a dedicated smart contract. In return, they get ERC-404 tokens.
These tokens are a unique blend of ERC-20 and ERC-721 tokens, combining the uniqueness of NFTs with the liquidity of ERC-20 tokens. This integration creates a new asset class, offering the best of both worlds- unique digital ownership and broad market liquidity.
The XRGB protocol offers versatility. You can navigate your assets across various blockchain ecosystems, from Bitcoin to Cosmos to Ethereum Virtual Machine (EVM) -compatible environments.
This cross-chain functionality is crucial in breaking down the barriers between different blockchain networks, allowing assets to flow freely across the blockchain landscape.
Why the name ‘X-404’?
The name “X-404” is not just a random combination of letters and numbers.
It’s a reflection of the protocol’s foundational goals and technological advancements.
The “X” symbolizes the protocol’s commitment to cross-chain functionality, bridging various blockchain networks.
The “404” is more than a common error code. It represents the new paradigm in NFT fractionization introduced by the protocol, democratizing access to valuable digital assets and fostering inclusivity in the NFT market.
The ERC-404 standard: a foundation for X-404
The ERC-404 standard forms the cornerstone of the X-404-XRGB protocol.
It introduces a semi-fungible token model, which enables the representation of NFTs as fungible assets within specific contexts.
While each NFT retains its unique identity and value, it can also be traded or staked similarly to conventional cryptocurrencies. This dual characteristic enhances liquidity and flexibility within the NFT market.
Key features of X-404
- Decentralized and universal: The protocol operates on a decentralized network, ensuring security, transparency, and autonomy for its users. It aims to be universally applicable across all major blockchain platforms.
- Omni-chain interoperability: One of the protocol’s standout features is its ability to facilitate cross-chain transactions. This means that NFTs and ERC- 404 tokens can move freely between two different blockchains, breaking down barriers that currently segment the digital asset space.
- New paradigm for NFT liquidity: By allowing NFTs to be represented as ERC- 404 tokens, the protocol introduces a new level of liquidity to assets previously illiquid or difficult to trade across different platforms.
The future of NFTs with X-404 and XRGB protocol
The introduction of the X-404 and XRGB protocol marks a significant leap forward in the evolution of the NFT marketplace.
By addressing critical issues of liquidity and interoperability, it paves the way for a more integrated, efficient, and user-friendly omnichain ecosystem.
As this protocol gains adoption, it is expected to unlock new possibilities for NFT creators, collectors, and traders, ushering in a new era of cross-chain commerce and interaction.
The workflow of the XRGB protocol
Social media：
Website：https://www.xrgb.xyz
Telegram：https://t.me/xrgbchain_official
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