Cosmos will enter the interchain NFT market with Stargaze, a new addition to its ecosystem. Stargaze is a decentralized application chain developed on the Cosmos SDK with a primary focus on NFTs. The goal is to facilitate the expansion of the inter-chain economy through an easy-to-use NFT marketplace. This platform benefits all creators, traders and developers by implementing on-chain royalties and zero gas fees for minting and trading; additional rewards from protocol fees for stakers.
2/ Stargaze is a pioneer in interoperability and modularity with IBC and CosmWasm, enabling secure smart contracts in Rust.
It simplifies NFT creation and supports Interchain NFT transfers with ICS-721.
Dive into Stargaze’s unique features and future plans ⬇️https://t.co/Eb5xh2LagW
— Cosmos – The Interchain ⚛️ (@cosmos) May 28, 2024
Stargaze pioneers cross-chain NFT transfers with ICS-721
Stargaze builds on the Interchain Stack to lead the way in seamless connectivity through IBC and flexibility. This was one of the first to integrate CosmWasm, a smart contract framework that enables the use of Rust. This integration adds the layers of security and developer royalties that lead to a strong and friendly environment for developers. Stargaze has also adopted ICS-721, a standard used for cross-chain NFT transfers.
In the broader interchain context, Stargaze aims to serve as an NFT marketplace that lowers the barriers to creating and trading NFTs across chains. It addresses challenges such as high gas rates, low connectivity and complex NFT transactions found in other markets. The main idea of the platform is to create a safe, accessible and adaptable space specifically for small retail and consumer merchants.
Stargaze aims to stabilize and grow the Interchain ecosystem
So Stargaze’s app chain design enables features like Live Auction. These are MEV-resistant NFT auctions that are handled 100% on-chain, as most other auction protocols rely on keeper networks, which hinders protocol revenue. An innovative feature of the app chain architecture is the Stargaze Loyalty Program (SLP).
It offers staking rewards and discounts on trading fees to STARS stakers, a privilege typically exclusive to centralized exchanges. As an application chain, Stargaze manages its own compensation system, which allows the chain to maintain a loyalty program.
Stargaze’s vision is focused on developing and stabilizing the interchain ecosystem by offering investors an NFT marketplace that provides seamless, secure, experiential growth, deployment and governance. It also plays a role in ecosystem culture by sustaining decentralization and encouraging the participation of different players to forge the platform.