Even with the DeFi market worth $97.84 billion and NFTs worth $10.7 billion, there’s still one area that has remained untouched and ripe for innovation: a multi-chain decentralized marketplace. So far, there isn’t a single ecosystem that can support more than two or three blockchains. The demand for a chain-agnostic ecosystem that can act as a marketplace for DeFi and NFTs across different blockchains with lower trading and exchange fees.
The Metria DeX & Metria NFT Marketplace will be launched by Metria Network, a standalone blockchain ecosystem that is EVM compatible. It will be released on Polygon & Ethereum. The ecosystem will transition to its own blockchain after the Metria Network completes its development and main-net launch.
Asset transfers will be possible across a variety of blockchain networks, including Ethereum, BSC, Polygon. Metria Network will add more blockchains to its ecosystem in the near future, making it a one-stop-shop for all blockchains to interoperate, exchange value, and develop a long-term liquidity marketplace for NFTs and utility tokens.
NFTs across multiple chains experience no price discoverability. To put it simply, suppose you have minted an NFT on Polygon, it will not be listed on the BSC chain. As a result, NFTs fail to reach out to a wider audience for mass-level adoption. On the Metria NFT marketplace, NFT creators get the chance to mint NFTs and get access to automatic indexing across all the partner networks of the Metria chain. The ecosystem uses oracles to make sure that different NFT marketplaces built on top of different blockchains can interact with the Metria network and enjoy better discoverability and price gratification.
Furthermore, the Metria NFT Marketplace will feature two versions: one for newcomers and one for experienced traders and inventors. The Metria NFT Marketplace also welcomes NFT value appraisers or pricing specialists to evaluate the NFT’s value. The expert must store their Metria tokens in the indexer and validator smart-contract vaults and set the price of the NFT based on supply-demand analyses and their own knowledge. If they carry out the price-fixing in a fair way, they are compensated with a portion of the NFT auction as a commission for their efforts. However, if they commit any errors or commit fraud, a portion of the token kept in the vault is sliced. Hence, the ecosystem has helped NFTs reach the next level of adoption
Metria will establish a baseline for evaluating NFTs through its marketplace, much as it does with genuine artwork and other tangible items. By implementing such a system, the project hopes to incentivize artists to produce high-quality content while discouraging scammers from selling useless tokens at exorbitant prices on the basis of a promise, only to disappear with the cash.
The Metria ecosystem will employ the IPFS infrastructure to host the NFT marketplace and store indexer data. It will be possible to keep the information of all NFTs issued on the Metria ecosystem in a distributed way using the IPFS.
We also conducted a brief poll among the NFT Artist groups, and when the team began working on this one-of-a-kind NFT Marketplace, the artists were really intrigued. We’ve had a lot of encouraging feedback, and many creators are looking forward to the Metria NFT Marketplace.