Composable Finance will Integrate Aleph.im into our Cross-Layer NFT Architecture
Disclaimer: Information as of Sep 22, 2021. For the most recent updates, dive into our comprehensive documentation here.
Composable Finance is pleased to announce that it will be working with Aleph.im Network to leverage its permanent data storage solution in our cross-layer non-fungible token (NFT) infrastructure, powered by Mosaic. Utilizing aleph.im’s decentralized network will allow us to safely and permanently store NFTs while growing this unique asset’s use cases.
What the Partnership Entails
Composable Finance will be integrating aleph.im’s permanent data storage solution into our cross-layer NFT infrastructure. The NFTs within Composable’s infrastructure will be locked on their original layer and then minted onto a destination layer. During this process, the image itself will be stored on aleph.im’s network to ensure it is not changed. This preserves the unique asset that the NFT represents, specifically saving the .jpeg or other image/video type that is attached to the NFT.
Safely storing NFTs will help to preserve their unique nature — an integral part of NFTs — and thus their value. By leveraging aleph.im’s permanent network, our users will not have to worry about any possibility of losing or “damaging” their NFT when moving it across layers using our cross-layer NFT architecture.
Growing Use Cases For NFTs Across Layers
The advantages of NFTs, which utilize ERC-721 tokens, are that they are unique and capable of having different representations, values, and identifying numbers than other tokens within the same smart contract. While this unique nature has driven NFTs’ value, it has also prohibited them from being moved from layer to layer. There are obvious benefits to cross-layer NFT movements, with users potentially being interested in minting NFTs on layer 2, and selling them on Opensea on L1 (or vice-versa when other marketplaces appear on layer 2s).
Safely storing the NFT in a lock contract, and minting them on a destination layer, utilizing aleph.im’s storage solution allows for the maintenance of the integrity of the NFT for cross-layer movements.
“We’re pleased to collaborate with Composable Finance to further develop the NFT ecosystem, by enabling NFTs to be truly decentralized and transferable across chains.” — Jonathan Schemoul, founder of aleph.im
About Aleph.im:
Aleph.im provides decentralized cloud computing for DeFi and Web 3.0 in their trustless network. With its intentionally designed and simplified nature, blockchain-enabled apps can securely access trusted off-chain computations or data with only a couple of lines of code through aleph.im.
The current use cases of this protocol include a number of offerings such as a document management system, website hosting, and supporting real-time dApps. A particularly helpful use case for Composable’s cross-layer transferal system is aleph.im’s NFT metadata storage.
The decentralized cloud computing company is already supported on a number of blockchains and ecosystems including Ethereum, Polkadot, Solana, Avalancheand Polygon. Aleph.im has further aligned itself with a number of notable partners including Jarvis, Orion, and bitfwd, a blockchain ventures company, indicating its broad acceptance by the industry.
As we integrate aleph.im’s technology into our cross-layer solution to allow for seamless NFT transfers across layers, we will share more information with you.
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