The Binance Smart Chain network has emerged as one of the fastest-growing ecosystems in recent months. Launched in the second half of 2020, BSC has taken over Ethereum dominance in the DeFi sector due to its low transaction fees and scalability.
It is also compatible with the popular Ethereum Virtual Machine, making it easy for Ethereum based projects to migrate to its network without any significant difficulty. The increased movement to BSC means that it is an ecosystem with unlimited opportunities.
Despite the immense growth in recent months, the NFT market in BSC is relatively new and underdeveloped compared to Ethereum. More than 90% of NFTs are created on the Ethereum blockchain, and Ethereum based marketplaces like OpenSea and Rarible are still the go-to places for NFT enthusiasts. But these could all change when the leading virtual network platform Dvision Network, moves to the BSC ecosystem.
Dvision Network now live on Binance Smart Chain
Dvision has already announced their readiness to launch on BSC in their blog post and also started a countdown in their website, which pinpoints to the official launch of the bridge on 20th May.
This development is a major one for the BSC ecosystem as Dvision is regarded as a significant player in the NFT & Metaverse sector.
The BSC bridge opens up new cases for DVI token and increases exposure to the BSC ecosystem. Dvision achieved the migration to Binance Smart Chain via a multichain bridge built in partnership with Curvegrid.
The multichain bridge is built on the Curvegrid MultiBaas blockchain architecture, ensuring smooth cross-chain transfer of DVI between supported blockchains.
In addition, Dvision has created an interoperable swap bridge that would allow DVI holders to swap between the ERC20 and BEP20 token versions. This makes it one of the first VR blockchain projects to have this functionality.
NFT compatibility on BSC
Dvision provides a web-based VR metaverse service for users to experience unique content like games and fairs. It is also creating a system where anyone can create NFT items without extensive knowledge.
Binance Smart Chain community members will also be able to sell their NFTs in the native NFT marketplace within the Dvision ecosystem. They can also purchase virtual properties and other collectibles within the Dvision metaverse. Dvision’s NFT trading system enables monetization by directly connecting creators and consumers without intermediaries. This serves to connect the virtual world to reality.
BSC community members will be able to access this feature via the DVI token launched for the BSC ecosystem. The BEP20 token is similar to the original DVI ERC20 token and will be used to create NFTs on the Dvision Metaverse.
Apart from NFTs, the scalable nature of BSC means that Dvision can build dApps and other products on the blockchain network. DVI holders will be able to access this new innovation using the BEP20 tokens.
The migration to the BSC comes after Dvision Network auctioned a limited release of its NFTs. The successful auction heralded the beginning of NFTs in the Dvision metaverse. DVI tokens are currently listed on several exchanges, including Coinbase Custody, Uniswap, Bithumb, Coinone, and Hoo. To learn more about Dvision Network, visit the website.
