Ethereum

Polygon

Image: Wakweli
&nbsp;
The decentralized NFT certification protocol Wakweli collaborates with Polygon Labs to issue certificates for non-fungible tokens (NFTs) on the Polygon blockchain.&nbsp;
Wakweli, a Web 3 certification protocol for NFTs that issues certificates of authenticity, is now collaborating with Polygon Labs, the leading development team on the Polygon blockchain, to bring certification to NFTs hosted on the blockchain. According to the team statement released this Wednesday, the collaboration allows every authentic digital asset to be verified by the Wakweli protocol.&nbsp;
Speaking on the latest partnership, Antoine Sarraute, Co-Founder of Wakweli, praised the efficiency and cost-effectiveness of Polygon as a layer 2 chain and aims to capture the Polygon NFT market as he did the Ethereum NFT market.&nbsp;
&ldquo;Since 2021 when ETH fees skyrocketed, Polygon established itself as the go-to chain to mint assets and has performed extremely well ever since &ndash; it is now the home of incredible NFT projects,&rdquo; he said.&nbsp;
Following the collaboration, all tokenized assets and NFTs on Polygon will be compatible with Wakweli&rsquo;s certification system and will have a green checkmark beside them after verification. Additionally, every NFT project holder on the chain will also be able to request authenticity certificates for each of their assets.
Wakweli (Swahili for &lsquo;Truthsayers&rsquo;)is currently incubated by EverdreamSoft having been in operation since 2015. The protocol uses a &lsquo;unique&rsquo; consensus mechanism, the proof-of-democracy (PoD), to authenticate and verify NFTs on every blockchain. Simply, Wakweli&rsquo;s community is incentivized to review certificate reports and requests via a consensus with fair behaviours rewarded and malicious members punished to retain trust across the process. This is to promote the security and authenticity of assets.&nbsp;
Once verified, the certified assets carry a green tick beside them when appearing on official marketplaces such as Opensea, which confirms their authenticity and helps promote the confidence and trust of the potential buyers. Sarraute believes the latest collaboration with Polygon, the second-largest NFT blockchain after Ethereum, will promote authenticity across the Web 3 tokenization economy.&nbsp;

&ldquo;We built Wakweli to create a safer web3 space across all chains, and today we are thrilled to collaborate with Polygon,&rdquo; he said. &ldquo;This will enable Wakweli&rsquo;s certification power to all Polygon users and unlock a definitive way to fight scam attempts, creating more trust in this thriving ecosystem.&rdquo;

In addition, advanced use case scenarios will be available for NFT creators, developers and project holders via Wakweli&rsquo;s platform and APIs. Some of these advanced use cases include automatic certification requests upon minting or accessing more precise certification data. Finally, additional customer and technical support will be available for developers and NFT holders in a bid to build &ldquo; a more secure digital ecosystem with the Polygon collaboration&rdquo;, the statement further read.
&nbsp;
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Wakweli Brings NFT Verification to Polygon Blockchain

Crypto Daily™

Other articles published on Mar 29, 2023

NFT by GMT: Mining BTC For You For 7 Months Already

Top 7 Legal and Compliance Jobs in the Crypto Market

Magic Eden Unveils Beta Launch of Its ETH Marketplace

Breaking News: Voyager Transfers $150M USDC to Circle for USD Cash

$ADA: Cardano Prepares for Full Decentralization as it Plans to Enter the Voltaire Era

3 alarming insights from ‘Rich Dad’ R. Kiyosaki on current market downturn

Join our free newsletter for daily crypto updates!