As NFT mania continues, the XDB Foundation announced the addition of Litemint to the DigitalBits blockchain. The inclusion is part of its focus on supporting blockchain use cases that include consumer digital assets such as these now coveted tokens.
Built on Stellar, Litemint is set to play a key role in supporting the addition of NFT functionality to the DigitalBits blockchain. The technology company connects crypto enthusiasts, collectors, and gamers to unique experiences and recently unveiled its NFT and Collectibles marketplace.
Its new feature is designed to be a service for players who wish to take advantage of blockchain technology for true asset ownership and peer-to-peer trades of in-game items. This represents a necessary drift from the walled-garden model that is commonplace in the gaming industry.
The partnership between DigitalBits and Litemint provides both parties with important benefits. The blockchain protocol provides secure and low-cost global transactions and has recently been sought after by other projects to support their respective NFT initiatives. In many aspects, the network has become preferable to Ethereum due to its scalability solutions.
As the current market leader for NFTs, Ethereum has been plagued with high transaction fees and wait times. These factors have hindered NFTs’ advance into esports and gaming applications despite their potential value to these industries.
By using scalable networks such as DigitalBits, Litemint could make the issuance, transfer, and trade of NFTs more efficient and ultimately drive wider adoption. Litemint CEO Frederic Rezeau believes the DigitalBits is “a perfect match” for NFTs and collectibles due to its closeness with the mainstream gaming industry.
On the other hand, XDB managing director Michael Gord believes “NFTs have the ability to add an entirely new layer to the user experience, allowing for unique activations that can be implemented across numerous different industries.” The addition of NFT functionalities to the DigitalBits blockchain is sure to broaden its appeal to its user base and investors.