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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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    Costanoa Ventures Closes Oversubscribed Early-Stage Fund, Expands Investments in AI-Enabled B2B Tech

    2024-09-18T14:11:37Z

    Firm surpasses $2 billion in total assets under management as it targets AI-enabled SaaS, AI & Data Infrastructure, Cybersecurity, Fintech and Defense Tech sectors with promotion of new general partner

    SAN FRANCISCO, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Costanoa Ventures, a boutique early-stage venture capital firm, today announced the successful close of two new funds: Costanoa Fund V, a $275 million early-stage fund, and Opportunity Fund III, a $119 million fund for investing in later rounds of its early-stage winners. With these additions, the firm’s total assets under management now exceed $2 billion.

    Costanoa invests as early as Day One in Seed and Series A startups in high-growth sectors across AI-enabled SaaS, Cyber- and National Security and Fintech. In recent years, the firm has doubled down on critical sectors that lay the foundation to grow and scale AI’s use in business.

    "Our goal has always been to be the best possible partner to incredible founders building extraordinary companies that can solve big problems,” noted Greg Sands, Costanoa's founder and managing partner. “The huge leaps forward we're now seeing in AI make this a tremendous time to be an early-stage investor.”

    In Fund V, Costanoa has continued to expand its focus on Cybersecurity and Defense Tech. Costanoa also announced that John Cowgill has been promoted as its newest General Partner. Cowgill has built Costanoa’s cybersecurity and space practices and has led investments in category standouts like AppOmni, Cyberhaven, Muon Space and Kepler Communications.

    “Costanoa is building the most founder-aligned early stage venture firm in the industry. I couldn’t be more excited for the extraordinary companies we’ve partnered with and the amount of innovation that still lies ahead,” said Cowgill.

    One of the firm’s standout investments in Defense Tech is Vannevar Labs, founded by two Stanford GSB students and incubated in Costanoa’s Palo Alto office in 2019. Vannevar has since emerged as a leader in providing state-of-the-art technology for the defense industry. Other investments in the sector include Cape, Auterion, Kepler Communications and Muon Space, among others.

    “Costanoa has been part of our team through all the highs and lows and every phase of company building,” said Nini Hamrick, President and Co-Founder of Vannevar Labs. “The Costanoa team feels like an extension of our team at this point, with a very different level of engagement than we see from other investors that is hyper specific to this early stage of company building. They are also just really great people who want to have a really big impact on the world, and we can't imagine building Vannevar without them."

    Costanoa sets itself apart by building a highly concentrated portfolio focused on outstanding technical founders, where it can add real value with the world-class expertise of its BuilderOps Team. They provide the hands-on support these teams need in go-to-market strategy, company building and talent recruitment. With a boutique approach, Costanoa offers a tailored, high-touch approach that early-stage founders need and value.

    For more information about Costanoa and its portfolio companies, please visit https://costanoa.vc/.

    About Costanoa Ventures:
    Founded in 2012, Costanoa Ventures partners with builders as early as company formation, with a focus on apps and infrastructure in data, dev, security and fintech. Costanoa is a long-term, boutique partner to entrepreneurs from the earliest stages of company building with expertise from its BuilderOps team. For more information, please visit www.costanoa.vc.

    CONTACT: Media Contact For Costanoa Ventures:
Angela Petersen
SamsonPR
Costanoa@samsonpr.com

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