JumpNet, a new gas-free network developed by Enjin has been officially released and already is drawing a lot of attention from the community.
JumpNet is a network from Enjin that operates on a proof-of-authority mechanism. It allows users to move Enjin Coin (ENJ) from Ethereum (ETH) to JumpNet. Other features include the ability to trade and distribute ERC-1155 tokens from a game or application gas-free.
Many are aware of the rise of non-fungible tokens (NFTs), but not all are privy to the fees which come along with the sale of such a token. These fees have been a bit of a sticking point or barrier for new users to explore NFTs.
The project has already seen a lot of interest from the NFT community with dozens of creators attached at launch. These supporters include some big names in the industry such as Microsoft, OKEx, and Binance.
Joshua Kim, CEO of Korea-based Ludena Protocol that also uses JumpNet, commented on the development:
“Through close collaboration with Enjin, we succeeded in the carbon-neutral NFT life cycle test on JumpNet, which was the fastest in Korea. Thanks to JumpNet, our NFT roadmap, including Ludena World’s Metaverse and avatar Luna, can now be implemented swiftly without gas fees.”
It’s no secret that NFTs are making big waves in the industry, showing massive growth and potential. The growth appears far from over and resources that offer gas-free NFTs might be spearheading this industry maturation.
Resources aimed at growing the NFT industry continue to surface
The first week of April saw Immutable launch their first gas-free Layer 2 solution for NFTs that exist on the Ethereum blockchain. Their goal, much like Enjin, is to lower the entry barriers which exist in the NFT market.
Ethereum houses the highest number of decentralized NFT platforms so the move by Immutable makes a lot of sense.
NFT marketplace OpenSea also announced their plan to integrate a special scaling solution for Ethereum in order to eliminate gas fees. As one of the world’s largest NFT marketplaces, they have kept up with the demand of the community.
Immutable X has ostensibly saved users an unbelievable $1.3 million in gas fees from over 33,000 transactions.
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.