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Unique Network Leads the Way in Cross-Chain NFT Transfers on Polkadot

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    Singapore, Singapore, September 18th, 2024, Chainwire

    Parachains and developers can register now to test NFT XCM functionality and get an exclusive first look at this innovation in action.

    Unique Network has announced it will be launching the first developer environment for NFT XCM transfers (Cross-Chain NFTs), starting with two major networks for developers and parachains in the Polkadot ecosystem. Using NFT XCM’s technology at the start of the developer environment, blockchain developers can move NFTs between Asset Hub, and Unique Network. Interested parachains can be added to the developer environment to develop NFT XCM functionality.

    What is NFT XCM?

    NFT XCM is a groundbreaking initiative developed by Unique Network, designed to simplify the transfer of NFTs (Non-Fungible Tokens) across parachains. By enabling seamless movement between different chains, NFT XCM is not just expanding accessibility but also unlocking new possibilities for creators, developers, and users alike.

    NFT XCM extends the limits of Web3 games and NFT collections, supporting greater use cases and making non-fungible tokens available to a larger group of on-chain users. Unique Network invites parachains, and developers to register their interest in the upcoming testing phase of NFT XCM transfers, to demonstrate its efficacy and explore applications for the technology.

    NFT XCM utilizes Polkadot’s Cross-Chain Messaging, the messaging format and language used to communicate between consensus systems. 

    Developers and parachains interested in testing NFT XCM transfers are encouraged to register their interest via this form. Polkadot parachains will be added to the developer environment to develop and test NFT XCM functionality. EVM teams interested in pioneering EVM implementations of the technology in a development/test environment are also invited to register their interest.

    Following the development work of NFT XCM, the Unique Network team unveiled the Cross-Chain NFTs Think Tank earlier this year at Polkadot’s Sub0 conference. This initiative is designed to foster collaboration, drive innovation, and explore new use cases for Cross-Chain NFTs within the Polkadot ecosystem. Leading projects, such as Acala Network and Zeitgeist, are already exploring ways to integrate Cross-Chain NFTs into their own projects.

    Alexander Mitrovich, CEO of Unique Network shared:

    This milestone represents not just technical progress but the unification of an ecosystem. NFTs are no longer confined to one parachain; we’re building a future where they can flow freely across multiple chains.”

    The importance of cross-chain interoperability for assets such as NFTs was first highlighted in the Polkadot Whitepaper by Polkadot creator, Gavin Wood. The launch of XCM v3 in May of 2022 introduced this capability but was only viable for Fungible Tokens (FTs). NFT XCM is a breakthrough that will enable users to seamlessly transfer digital assets between Polkadot parachains, making NFTs more accessible and versatile than ever.

    Following this, Chief Marketing Officer at Unique Network, Charu Sethi discussed the company’s efforts to foster collaboration and streamline the NFT ecosystem across Polkadot’s various blockchain networks.

    As we advance NFT XCM technical capabilities, it’s critical to address the complexity and fragmentation within the ecosystem. We are now working on organizational bridges and aligning leadership across all NFT blockchains in Polkadot.

    About Unique Network

    Unique Network is the first NFT chain built on Polkadot and Kusama, offering the most sustainable and green NFTs with advanced features for gaming, art, and fan engagement. 

    Unique Network offers unparalleled customization, scalability, and interoperability, making it the ideal platform for advanced and innovative NFT applications.

    Users can learn more here: https://unique.network

    Contact

    Chief Marketing Officer
    Charu Sethi
    Unique Network
    cs@unique.network

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    Digital Banking Platform Market Set to Surge to USD 164.7 Billion By 2032, Widespread Smartphone Usage and Mobile Internet Access Enable On-The-Go Banking Services which is Propelling the Market Growth | Research by SNS Insider

    2024-09-17T13:00:00Z

    According to Research by SNS Insider, Legacy Banks Collaborate with Fintech Companies to Improve Their Digital Platforms and Technology Infrastructure to Aid Digital Banking Platform Market Growth

    Pune, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Digital Banking Platform Market Size Analysis:

    “The global Digital Banking Platform Market, valued at USD 30.3 Billion in 2023, is projected to reach USD 164.7 Billion by 2032, growing at a compound annual growth rate (CAGR) of 20.7% during the forecast period.”

    The banking industry is rapidly going through digitalization, and smart mobile tools and digital banking services are required by consumers. These are the main drivers in the market. Thus, banks are mainly inclined towards digital banking platforms due to such benefits as lower IT cost, quick time-to-market, open banking, out-of-the-box yet an opportunity to configure solutions, omnichannel customer experience, and microservice architecture. For instance, it was recently announced that on December 12, 2022, Deloitte had teamed up with Amazon Web services to address a perennial issue: the transition to digital-first offerings that span the gamut of banking from customer-facing activities to the back office. Regarding the fact that the processors used by neo-banks are still shallow, they still represent a small market, but they grow faster in terms of increasing market share. Even though they serve their customers at about a third of the cost of a standard bank, the interest of venture backers in them appears to be waning. In the meantime, fintechs are focused on the most attractive niches in the value chain. The big techs and large user communities pose the greatest danger. Incumbents are spending a fortune on innovation, with only a few laggards fading away.


    Get a Sample Report of Digital Banking Platform Market@ https://www.snsinsider.com/sample-request/1228 

    Major Players Analysis Listed in this Report are:

    • Fiserv, Inc.
    • Crealogix AG
    • Temenos
    • Urban FT Group, Inc.
    • Appway AG
    • Alkami Technology Inc.
    • Finastra
    • Urban FT Group, Inc.
    • Q2 Software, Inc.
    • Sopra Banking Software
    • Tata Consultancy Service

    Digital Banking Platform Market Report Scope:

    Report AttributesDetails
    Market Size in 2023 USD 30.3 Bn
    Market Size by 2032USD 164.7 Bn
    CAGR CAGR of 20.7% From 2024 to 2032
    Base Year2023
    Forecast Period2024-2032
    Historical Data2020-2022
    Key Regional CoverageNorth America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
    Key Growth Drivers• Government initiatives to promote digital financial inclusion and favorable fintech regulations drive market growth.

    • Widespread smartphone usage and mobile internet access enable on-the-go banking services.

    Do you have any specific queries or need any customization research on Digital Banking Platform Market, Make an Enquiry Now@ https://www.snsinsider.com/enquiry/1228 

    Segmentation Dynamics

    The on-premise segment was the market leader, holding a revenue share of 73.2% in 2023. The on-premise model installed at the user’s site is a common choice for many users of these systems, as it is perceived by many as more secure than cloud software. If the software is hosted on the customer’s premises, their IT and security teams have direct access and therefore full control over its installation, configuration, management, and security. In various countries with strict regulations on the storage of financial data, large and well-established banks often opt for on-premise solutions because they have the capacity available. The cloud segment held the second-largest market share and there is potential for this segment to grow the fastest in terms of CAGR in the forecast period. The success of inclusive banking in the future will depend on the adoption of cloud and SaaS solutions. Although cloud and SaaS solutions provide basic financial services to the populations considered by inclusive banking, there are challenges in the inclusive banking environment.

    Digital Banking Platform Market Segmentation:

    By Deployment

    • On-Premise
    • Cloud

    By Mode

    • Online Banking
    • Mobile Banking

    By Type

    • Retail Banking
    • Corporate Banking
    • Investment Banking

    By Component

    • Platforms
    • Services
      • Professional Services
      • Managed Services

    Regional Insights

    Asia Pacific was the leading market in 2023, which held a share of 33.5%, and is expected to also exhibit the highest CAGR of 24.2% during the forecast period. The advent of new digital companies is expanding Asia’s digital banking industry; a new generation of digital institutions is completely changing the older norms and offering both individuals and companies tightly digitalized banking services. Due to the growing need for mobile and online banking solutions, there is huge potential for existing players as well as new entrants, owing to the increasing proportion of permits and a new set of banking regulations. North America was the second biggest market, holding a share of 27.2%, and is anticipated to grow at a CAGR of 19.9% during the forecast period. Cloud solutions are being adopted right into many sectors worldwide such as banking and finance. The increasing adoption of cloud solutions is resulting in banks deploying cloud-based digital banking platforms, which will continue due to their low initial cost and rapid update capabilities.

    Buy an Enterprise-User PDF of Digital Banking Platform Market Analysis & Outlook 2024-2032@ https://www.snsinsider.com/checkout/1228 

    Recent Developments

    • In April 2024, nCino provide individuals with an improved and better omnichannel consumer banking solution for grades and banks. After the introspection, this will ensure that bankers can now find out which of their customer’s preferences and needs in the financial services sector.
    • In September 2023, Temenos proved to be the most striking and useful risk-free and secure solution to banks. This invention incorporates generative Artificial Intelligence automation delivery to classify the banking transaction of any customer.

    Key Takeaways:

    • The on-premise segment held the leading revenue share in 2023 due to the surging adaption of the segment among the large banks with strict storage and data security guidelines.
    • The Asia Pacific region dominated the market with 33.5% of the revenue share in 2023 and will see the highest CAGR of 24.2% throughout the forecast period, driven by the establishment of new digital companies and the regulatory backing of digital banking enlargement.

    Table of Contents – Major Key Points

    1. Introduction

    2. Executive Summary

    3. Research Methodology

    4. Market Dynamics Impact Analysis

    5. Statistical Insights and Trends Reporting

    6. Competitive Landscape

    7. Digital Banking Platform Market Segmentation, by Deployment

    8. Digital Banking Platform Market Segmentation, by Mode

    9. Digital Banking Platform Market Segmentation, by Component

    10. Digital Banking Platform Market Segmentation, by Type

    11. Regional Analysis

    12. Company Profiles

    13. Use Cases and Best Practices

    14. Conclusion

    Access Complete Report Details of Digital Banking Platform Market Analysis Report 2024-2032@ https://www.snsinsider.com/reports/digital-banking-platform-market-1228 

    [For more information or need any customization research mail us at info@snsinsider.com]

    SNS Insider Offering/ Consulting Services:

    Go To Market Assessment Service

    Total Addressable Market (TAM) Assessment

    Competitive Benchmarking and Market Share Gain

    About Us:

    SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

    Contact Us:
Akash Anand – Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)

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