Harmony Launched Bored Ape Yacht Club NFT Passport

Time Stamp: February 20, 2022 1:32 PM
Source Node: 1180855

Harmony launched Bored Ape yacht club NFT passport announced during the ETH Denver event as we can see further in today’s latest blockchain news.

The blockchain platform Harmony launched Bored Ape Yacht Club NFT passport runs on the Ethereum network and claimed to have two-second transaction finality and the fees 1000 times lower than ETH which was announced during the launch of the passport. The Passport enables users to import proof of their apes into the DEFI kingdoms as a play-to-earn game built on the Harmony blockchain with more than 120,000 monthly active users. In its initial stages, the holders will be able to validate the display of their assets in the game across multiple blockchains when they connect the MetaMask wallet to Defi Kingdoms.

Yuga Labs CEO, buzzfeed, bored ape, bayc
Bored Apes

The infancy of cross-chain technology means that the funds can be at risk when bridging the chains as the biggest decentralized finance hack so far. However, as stated by the developers, Harmony’s Passport doesn’t move assets but it also proves asset ownership across multiple blockchains that guarantee their authenticity. The cross-chain bridge Horizon now supports interoperability between Harmony, BNB Chain, Ethereum, and other blockchains. The team member at Harmony Leo Chen noted:

“We wanted to give all NFT holders more utility and options to display their NFTs and participate in the Metaverse. Bored Ape Yacht Club holders are the first choices. The cross-chain identity creates a secure and easy way to do so without putting their assets at risk.”

In a similar gesture, Twitter kicked off the NFT campaign allowing the paid subscribers to show off their possessions in NFT as profile pictures. The technical functionalities of the feature are in the testing phase with only ETH NFTs eligible and no support for the cross-chain functionalities.

Counterfeit NFTs, marketplace, activity

As recently reported, The creators of Bored Ape NFTs Yuga Labs, are negotiating with Andreessen Horowtiz whcih could be of value for the startup and lead it to $5 billion. According to the reports by the Financial Times, the anonymous people familiar with the matter revealed that the BAYC creators are looking to sell a multi-million dollar stake to the investors. The sources stated that the leading venture capital firm a16zis among the companies that will be involved in the funding round.

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