MultiversX and XOXNO: an ecosystem you definitely need to know about

We’ve published several articles about XP.NETWORK’s involvement with MultiversX (former Elrond) – a superfast blockchain with near-zero fees and superior technology. It’s optimized for collectibles, gaming, and metaverses (thus the name): for example, you don’t have to mint a new NFT collection on a separate smart contract, because the native ESDT token standard supports both fungible and non-fungible assets.

The NFT scene on MultiversX is positively booming, and projects on other blockchains come to realize the advantages of this network. Many of them approach XP.NETWORK for assistance with cross-chain expansion and bridging. We recently partnered up with Moonlorian, a premier accelerator and blockchain service provider on MultiversX, which will help us introduce even more NFT projects to MultiversX. 

Of course, an NFT ecosystem can’t do without marketplaces, and MultiversX has quite a few. One of them is XOXNO – actually, more than just a marketplace but an all-in-one NFT platform. It offers:

• NFT listing aggregator – a very handy feature, as users don’t usually list the same collectible on all the marketplaces;
• NFT swaps (where you can offer one NFT in exchange for another instead of a payment in crypto);
• a wallet leaderboard (wallets with the highest trading volume);
• staking (deposit an NFT and get rewarded with tokens);
• EGLD staking (8.5% APR);
• NFT analytics (trades and volume across all major MultiversX marketplaces).

XP.NETWORK and XOXNO: 4 collections to explore

XOXNO features hundreds of collections, most of them native to MultiverseX – such as Elrond Apes and Gnogons. However, among the leaders are also a few collections that originated on different blockchains and expanded to MultiversX with the help of XP.NETWORK. 

Drifters
Initially launched on Ethereum, this metaverse project moved to Elrond several months ago and quickly rose to no.2 by trading volume with its Genesis Innovator collection of 1,000 NFTs. The main Drifters collection has 10k items, and, as of February 2023, the cumulative volume for the two collections is already over 27,000 EGLD, with more than 7,500 transactions. This is even more than on Gnogons, a recognized Elrond blue-chip. 

Hokizuki Ape Genesis
Japanese-style apes, originally on Polygon, but with over 5,000 transactions on MultiversX already. Note how the description of each NFT includes the original URI (image address on IPFS): this way you know that it’s an original bridged NFT and not a fake. This applies to all the collections bridged with XP.NETWORK. 

Another important feature is that trait rarity, too, is evaluated correctly after bridging. We can also map the destination smart contract in such a way that NFTs will say “bridged from (chain name)” (if a project so wishes).