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Start from BSC, then ERC, then the world
As Defi and NFT develop, the capacity of Ethereum and its transaction speed are clearly insufficient to match such a large-scale NFT ecosystem, which results in the prohibitively high gas fee on Ethereum Mainnet. To tackle this problem, there have been many measures proposed by developers. For example, expansion can be achieved using the Layer2 method, or the multi-chain mode can be applied for development.
In this circumstance, attention has been gradually drawn to the protocol intended for cross-chain NFTs, as many developers have already focused on deployment in this field. Among them, NichoNFT is a multi-chain NFT infrastructure with the BSC ecosystem as its premise.
As a cross-chain decentralized NFT protocol based on ERC721, Nicho NFT is aimed to serve as the infrastructure of NFT in the multi-chain era, offering a variety of essential services like NFT minting, trading, collection, and governance. From the perspective of users, they can not only mint, trade, and analyze NFTs in the Nicho NFT Marketplace, but also transfer the NFT minted in Nicho NFT to any market through the same blockchain for trading.
In summary, Nicho NFT attempts to function as a centralized processing service centre for NFT transactions given various mainnet and it consolidates NFTs under different mainnet into a single market for trading.
Despite some platforms currently operating on ERC offering fee-free gimmicks, the substantial ERC-721 transfer fees remain a barrier to many artists with little knowledge of the NFTs world. In order to promote the development of the NFTs industry, it is necessary to lower the threshold of entry, for example, even if our platform charges a small fee, the transaction fee accounts for merely about 10% of ERC (also depends on the price put on the artwork).
Ethereum-based NFT markets incur a high cost of transaction for all active communities and NFTS. Gas fees fluctuate significantly, and in some cases, the cost may be even higher than the price of the NFT cast or sold. This is a long-standing problem worthy of attention for purchase. Moreover, the pace of trading can be frustratingly slow. In September 2021, BSC chose several NFT projects. It is widely known that BSC is clearly advantageous over Ethereum in transaction speed and charges. In design, Nicho NFT is fast and easy to use, which makes it most user-friendly even for those NFT artists knowing little about technology.
It explains why BSC is chosen to get started with our project. It is characterized by high transaction speed, low fees, and an extremely easy-to-use user experience, all of which make NFT appeal to everyone.