Basically, Spores platform is an open NFT ecosystem built on cross-chain interoperable NFT- DeFi protocols and infrastructure. The platform consists of four major components as followed. Spores Network founders deeply believe that a digital “metaverse” is being built today that will revolutionize our thoughts and behavior with respect to living, owning, sharing our physical and digital lives. Crypto enables two exciting and eventual two paths: Decentralization of Ownership, Frictionless Redistribution of Capital.
• Spores NFT marketplace is the place for auction, sale and exchange of NFTs. The marketplace is facilitated with cross-chain swap protocol, auction engine. When a transaction (e.g. an NFT auction) is complete, it will be forwarded to the corresponding smart contracts and their underlying blockchains to settle payment and transfer ownership. An AI assistant is employed to check existence and copyright of any new NFT submitted for minting and auction. It searches over all popular NFT marketplaces, then comparing similarity among items/files on sale to report copycats for enforcement actions.
• Spores NFT decentralized exchange is a cross-chain interoperable DEX allowing NFT holders and DeFi users to trade NFTs for fungible crypto assets across BSC, Ethereum and Polkadot- Substrate. The DEX is supported by decentralized wrapping and cross-chain atomic swap protocols to make transaction seamlessly regardless any underlying blockchain. Moreover, the DEX provides extensive decentralized finance utilities, for instances, staking, NFT-collateral lending, farming, LP & transaction mining. Thus, NFT liquidity is significantly improved while reducing high transaction fee on Ethereum (see Figure 4).
• Spores Minting & Management Interface (MMI) allows game developers, artwork & digital content creators to mint (issue) and manage their NFTs representing their assets/items, NFT holders to play & trade with their collections. The MMI also allows users to connect to the Spores Marketplace for NFT auction and exchange. MMI is blockchain-agnostic, built to be user-friendly as everyone can play on it easily.
- Spores Blockchain-smart contract protocols and infrastructure are built on multiple Solidity- compatible platforms (Ethereum, BSC, Polkadot-Subtrate-Moonbeam), utilizing cross-chain interoperable protocols to facilitate seamless and frictionless NFT minting and trading on Spores with lower fee. Most NFTs are built using a consistent standard known as ERC-721. However, the ERC-1155 standard allows for semi-fungible tokens which is particularly useful in the realm of gaming. And more recently, EIP-2309 has been proposed to make minting NFTs much more efficiently. This standard allows mining per transaction. A fungible (ERC-20 type) token reward mechanism is also implemented to incentivize all participants (game developers, artwork & digital content creators, clubs, celebrities, influencers, fans, collectors, sellers & buyers, etc) on Spores Platform.