Moonsama Network has won Polkadot’s most recent parachain auction, becoming the 42nd parachain on the platform.
Polkadot made the announcement on the victor of its most recent parachain auction on Monday. Moonsama network, an initiative with a primary focus on NFTs, is going to become Polkadot’s 42nd parachain.
Polkadot claims that Moonsama intends to “create infrastructure and utility solutions” for the market in order to power NFT utility.
Moonsama: Connecting Web2 and Web3 Games
Moonsama bridges Web2 gaming and Web3 ownership. The Moonsama Multiverse Portal connects Web3 dApps to Web2 games.
NFTs launched on Moonsama can be configured and assembled using the WASM and EVM interfaces. Native projects have access to a wide range of useful resources, according to Polkadot.
Moonsama set up special servers for well-known Web2 games like Minecraft to encourage this. Some Web2 games can incorporate Web3 capabilities thanks to the platform’s tools. This extends to having property rights over NFT galleries and the specified servers of Moonsama.
The first blockchain to put NFT owners in charge
The whole Moonsama ecology will be governed by a unique architecture. Owners of NFT will have the final say on the project rather than simply being token holders.
Polkadot noted that “Moonsama Network will be the first blockchain in the world managed by NFTs.”
The owners of Moonsama NFTs are in charge of the entire ecology because Moonsama began as an NFT collection. As a result, the Moonsama parachain will also be managed by NFT owners.
Polkadot’s Parachains: What Are They?
Blockchain networks known as parachains operate in addition to Polkadot’s primary blockchain network. Owners can modify these parachains to match the particular needs of their applications. The Polkadot blockchain handles consensus at the same time, allowing all parachains to gain from its security and decentralization.
Today, Polkadot has 42 parachains, some of which have experienced tremendous growth. Acala Network and Parallel both had around $200 million in TVL (total value locked) in 2022, according to Polkadot. The well-known cross-chain application platform Moonbeam had $85 million in TVL.
On the other hand the Moonsama team hasn’t given much information regarding its further plans. We don’t do roadmaps; we just deliver, according to the Moonsama website. Since the peak in 2022, NFT prices have fallen dramatically, while trading volume has fallen by a startling 97%.
Polkadot is a cutting-edge blockchain project with a sizable ecosystem and community, therefore you should be concerned. Its entry into NFTs may hasten the pace of innovation in the area.
