coincourier-com
Cosmos Enters NFT Market with Stargaze

Cosmos Enters NFT Market with Stargaze

Cosmos is making a significant move into the interchain NFT market with the introduction of Stargaze. Stargaze is a decentralized application chain built on the Cosmos SDK, focusing primarily on NFTs. Its goal is to enhance the interchain economy by providing an easy-to-use NFT marketplace. This platform offers numerous benefits to creators, traders, and developers, such as on-chain royalties and zero gas fees for minting and trading, as well as extra rewards from protocol fees for stakers.

Stargaze Pioneers Cross-Chain NFT Transfers with ICS-721

Stargaze leverages the Interchain Stack to provide seamless connectivity through IBC and greater flexibility. It was one of the first to incorporate CosmWasm, a smart contract framework that supports Rust, enhancing security and enabling developer royalties. Additionally, Stargaze has adopted ICS-721, a standard for transferring NFTs across different chains.

In the broader interchain context, Stargaze aims to be an NFT marketplace that simplifies the creation and trading of NFTs across various chains. It addresses issues like high gas fees, low connectivity, and complex NFT transactions found in other marketplaces. The platform’s main objective is to provide a secure, accessible, and flexible space for small retail and consumer traders.

Stargaze Aims to Stabilize and Grow the Interchain Ecosystem

Stargaze’s application chain design includes features like Live Auction, which are MEV-resistant NFT auctions that are fully settled on-chain, unlike most other auction protocols that rely on keeper networks and hinder protocol revenue. An innovative feature of the app chain architecture is the Stargaze Loyalty Program (SLP), which offers staking rewards and trading fee rebates to STARS stakers, privileges usually exclusive to centralized exchanges. As an application chain, Stargaze manages its own fee system, allowing it to maintain a loyalty program.

Stargaze’s vision is to develop and stabilize the interchain ecosystem by offering an NFT marketplace that is seamless, secure, and promotes growth, staking, and governance for investors. It also plays a significant role in preserving decentralization and encouraging participation from various stakeholders to strengthen the platform.

Note: Inspirations and information from this article were drawn from blockchainreporter.net

Share this post

Name Price24H (%)
Bitcoin(BTC)
$64,767.43
3.29%
Ethereum(ETH)
$3,471.51
4.20%
BNB(BNB)
$580.06
4.65%
Solana(SOL)
$158.04
4.28%
XRP(XRP)
$0.57
7.34%

Latest News

More news