When the blockchain platform Harmony announced the introduction of its Bored Ape Yacht Club Passport on Friday, it claimed to have two-second transaction finality and fees 1,000 times cheaper than Ethereum. In order to play DeFi Kingdoms, a play-to-earn game developed on the Harmony blockchain with more than 120,000 monthly active users, players must first obtain a Passport. To begin with, Ape holders can use their MetaMask wallet to login to DeFi Kingdoms and verify their assets across several blockchains. Money can be at risk when bridging across chains since cross-chain technology is still in its infancy, as the greatest decentralised financial breach this year highlighted. Rather, Harmony’s Passport confirms asset ownership across several blockchains, assuring their legitimacy all the way around, according to its developers. A cross-chain bridge called Horizon allows for the connection of Harmony with other blockchains like as Ethereum and BNB Chain.
According to Harmony employee Leo Chen:
All NFT holders should be able to engage in the Metaverse and show their NFTs as they see fit. Members of the Bored Ape Yacht Club are the first to be considered. An easy and safe option to do so without putting their assets at danger is provided by cross-chain identity.”
With its nonfungible token campaign last month, Twitter allowed its paid subscribers to display their NFTs as profile images. However, the feature’s technical capabilities are still in testing, and only Ethereum-based NFTs are eligible, with no support for cross-chain functionality.