SAN FRANCISCO--(BUSINESS WIRE)--0x Labs today announces the upcoming support for multi-chain NFT swaps on 0x Protocol v4, the backbone for the decentralized exchange of all tokenized assets. This upgrade will enable NFT swap functionality on any network supported by the protocol, including Ethereum, Binance Smart Chain, Polygon, Avalanche, Celo, Fantom and Optimism.
Web3 developers and NFT marketplaces can use this open-source and trusted exchange infrastructure to significantly reduce the effort required to deliver a seamless multi-chain experience to their users, giving them more time to focus on their products.
Will Warren, co-Founder and co-CEO of 0x Labs, says: “Our motivation in bringing NFT support to 0x Protocol v4 is to provide a public good to the NFT ecosystem. We believe it’s critical that markets are built on open standards and open-source code. We are fully committed to supporting a vibrant NFT ecosystem that spans multiple blockchains by launching a credibly neutral exchange infrastructure that is both robust and non-extractive. We anticipate many new NFT projects powered by 0x will join our ecosystem. This will ultimately reduce market fragmentation, drive greater transparency and interoperability in the space, and help to prevent the platform monopolies that exist in Web 2.0.”
The upgrade will be initially deployed on Ethereum, with other 0x-compatible chains to follow, pending a successful ZRX token holder community vote in February. 0x will continue to add support for new L1 chains and L2 solutions as part of its multi-chain expansion. Developers can currently test this upgrade on Ropsten, an Ethereum testnet, before it is deployed to the main network. This will provide Web 3.0 developers with a trusted, open-source standard to build their NFT apps and marketplaces, advancing 0x’s mission to build a tokenized world where all value can flow freely.
As well as multi-chain NFT swapping, this upgraded version of 0x Protocol v4 will also include:
* The most robust feature set of any NFT exchange protocol
* NFT swaps supporting all major token standards
* Free non-custodial listings + off-chain / on-chain order optionality
* Up to 54% more gas efficiency
* Collection orders
* Instant royalties for creators
* A highly flexible modular architecture
* A developer-first experience
You can read more information on our blog post here.
About 0x and 0x Labs
0x is the trusted exchange infrastructure for the internet that has enabled more than $130 billion in tokenized value across 38 million trades to flow through a growing number of blockchains. Developers and businesses can use 0x to easily incorporate exchange functionality into their applications and create new markets for all tokenized assets, including cryptocurrencies and NFTs. 0x Labs is the creator and core developer of 0x.