With the still raging high gas fees users are experiencing on the Ethereum network, we have already started to see a user and developer exodus to chains deemed more scalable and efficient. One of these networks is Kusama, but without EVM compatibility, it is extremely challenging to bridge dApps over to the network. This is where Moonriver, an Ethereum compatible smart contract platform in Kusama, comes in, providing the necessary infrastructure for applications to go live on the Kusama network.
We are pleased to announce the launch of our Moonriver integration, bringing new life to the Kusama NFT ecosystem, and allowing all users and project development teams on the network to easily create, buy, sell, p2p swap, farm, and launch NFTs in a fully decentralized and non-custodial manner.
The Kusama NFT Ecosystem
There are already quite a few notable collections on Kusama, such as the Damned Pirate Society, Moonsama, and Zoombies, and we are excited to provide them the platform they need to take their collections to the next level. Plus, when our cross-chain interoperability goes live, a whole new user base and flow of liquidity will have much easier access to Moonriver and Kusama-based NFTs.
Through this integration, Moonriver and Kusama NFT holders will have a plethora of value-adding features at their disposal.
Verified Collection Pages
We will set up verified collection pages for all collections that fit our parameters (don’t worry, you can access ALL Moonriver NFTs on NFTrade, but only verified collections will have the coveted blue checkmark), allowing for easy and safe buying, selling, and escrowed peer-to-peer swapping (trading). These collection pages also track relevant statistics within a collection, such as total trading volume, average sales price, floor price, and more. Since we index all of the metadata within individual collections, users will also be able to search for specific NFTs based on their immutable characteristics, making pinpointing the exact NFT you desire more manageable than ever.
Initial NFT Offerings
Our decentralized launchpad makes it simple for developers and users to launch and access native NFTs. Soon, Moonriver and Kusama NFT projects will be able to apply for launch, taking advantage of our infrastructure and NFT-focused user base. Users will be able to spend MOVR for all purchases and interactions.
NFT Farming is a one-sided staking application that allows for the lock-up of cryptocurrencies (reducing active liquidity and keeping it off the trading market) while simultaneously rewarding token holders. Unlike traditional staking, no high APYs or token dilution is necessary to reward users, benefiting the entire ecosystem.
As we further our involvement in the Moonriver NFT ecosystem, we are excited to see what our futures together will hold.
About Moonbeam and Moonriver
Moonbeam and Moonriver are Ethereum-compatible smart contract platform on the Polkadot and Kusama networks that make it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam and Moonriver with minimal changes. Following Moonriver’s tremendous success on Kusama as the most active deployment destination for over 80 DApps, Moonbeam benefits from the shared security of the Polkadot relay chain and integrations with other chains that are connected to Polkadot. Learn more: https://moonbeam.network/.