Even with a market capitalization of $97.84 billion for DeFi and $10.7 billion for NFTs, one area has remained untapped and ripe for innovation: a multi-chain decentralised marketplace. There is currently no ecosystem capable of supporting more than two or three blockchains. The desire for a chain-independent ecosystem capable of serving as a marketplace for DeFi and NFTs across many blockchains with cheap trading and exchange fees.
Metria Network will introduce the Metria DeX and Metria NFT Marketplace, a self-contained blockchain ecosystem that is EVM compatible. It will be distributed via Polygon and Ethereum. After the Metria Network’s development and main-net launch, the ecosystem will migrate to its own blockchain.
Transfers of assets between blockchain networks will be enabled, including Ethereum, BSC, and Polygon. Metria Network will soon add additional blockchains to its ecosystem, transforming it into a one-stop shop for all blockchains to interoperate, exchange value, and build a long-term liquidity marketplace for NFTs and utility tokens.
There is no price discoverability for NFTs across several chains. Simply said, if you mint an NFT on Polygon, it will not be included in the BSC chain. As a result, NFTs are unable to reach a large enough audience for widespread adoption. On the Metria NFT marketplace, NFT makers can mint NFTs and gain access to automatic indexing across the Metria chain’s partner networks. The ecosystem makes use of oracles to ensure that various NFT marketplaces built on top of various blockchains may communicate with the Metria network and benefit from enhanced discoverability and price gratification.
Additionally, the Metria NFT Marketplace will have two distinct versions: one for novice traders and inventors and another for seasoned traders and inventors. Additionally, the Metria NFT Marketplace encourages NFT appraisers or price professionals to assess the worth of the NFT. The expert must place their Metria coins in the indexer and validator smart-contract vaults and determine the NFT’s price using supply-demand analysis and their own knowledge. If they price-fix fairly, they are reimbursed with a share of the proceeds from the NFT auction as a commission for their work. If they make an error or conduct fraud, however, a portion of the token stored in the vault is sliced. As a result, the ecosystem has aided in the advancement of NFTs to the next level of adoption.
Metria’s marketplace will set a standard for appraising NFTs, just as it does with authentic artwork and other tangible items. By creating such a system, the project intends to motivate artists to create high-quality material while prohibiting scammers from selling worthless tokens at inflated rates on the basis of a promise and then disappearing with the money.
IPFS will be used to host the NFT marketplace and store indexer data in the Metria ecosystem. Using the IPFS, it will be feasible to maintain a distributed database of all NFTs issued in the Metria ecosystem.
We also polled the NFT Artist groups, and when the team began working on this one-of-a-kind NFT Marketplace, the artists were enthralled. We’ve received a great deal of positive feedback, and many creators are excited about the Metria NFT Marketplace.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.