NFTs Go Cross-Chain: Another Blue Chip NFT Project Moves Chains
Move over DeGods! A new blue chip NFT project is entering the world of cross-chain migration. It’s now officially game on for the NFT market as projects continue to move from one chain to the other.
It’s been a wild ride for the NFT space. Just when the DeGods project announced its move from Ethereum to Polygon, another blue chip NFT project joins the cross-chain migration stampede. The project in question? Elongate. Yes, the same Elongate that became popular with its meme NFTs.
Elongate’s Cross-Chain Migration
Based on the official announcement, the Elongate team plans to launch on a Layer 2 solution known as Polygon. The project is currently on Ethereum and will bring its meme tokens to the Polygon network.
For now, the specifics are extremely limited, but here are a few noteworthy points you might want to keep in mind:
- Elongate’s meme NFTs will remain the same: The same high-quality meme NFTs will stay, just in a different blockchain.
- It will be the same Elongate you know and love: Just with more speed and lower transaction costs.
- It’s much more secure than before: Aside from being faster, the project’s NFTs will also be more secure with L2 as opposed to L1.
So, Is It Worth It?
Let’s face it. Cross-chain migration is a challenging process and it’s no walk in the park for any NFT project. After all, Elongate is among the first ones to brave the voyage.
However, looking at the long-term picture, it’s evident that the Elongate team is taking the right decision. With faster transaction times and lower costs, users will get a better experience.
Speaking of users, the team also wants to do something special for them. For now, though, the details are still under wraps. We’ll just have to stay tuned for more information.
A Word of Caution
Before you get overly excited and run to buy some Elongate meme NFTs, here’s a quick word of caution.
- Cross-chain migration is no cakewalk and there’ll be several technical challenges along the way.
- It’s important to note that Elongate will primarily remain an Ethereum-based project. The development team is planning to bring the project to a second layer solution, but they haven’t officially announced it yet.
- The cross-chain migration process is quite time consuming and may take several months before the project is completely migrated.
So, it’s best to take a cautious approach and proceed with caution when it comes to Elongate’s cross-chain migration.
The Bottom Line
It’s an exciting time for the NFT space as more projects join the cross-chain migration bandwagon. Elongate being one of them.
At the end of the day, though, only time will tell how successful the project is in its cross-chain move. For now, though, it’s onwards and upwards for the Elongate team!
On that note, happy NFT-ing!
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