Polkadot (DOT) may implement NFT support

Short:

  • Polkadot (DOT) may soon launch transactions with tokens (NFT) and central bank digital currencies (CBDC)
  • This update is called Motion 236, he will be voted for tomorrow at the Referendum 131
  • The essence of the modernization is to update Shell parachains to parachains and the Statemint interface.

Polkadot (DOT) will soon be able to process non-fungible tokens (NFT) and central bank digital currencies (CBDC). The team announced this in an official tweet. Tomorrow for updating Motion .

Motion 131 passed council, has been fast-tracked by the Technical Committee & is now up for vote as Referendum 46. If passed, this will upgrade the Shell parachain to #Statemint on Friday. Statemint allows anyone to create assets & mint NFTs on Polkadot.https: //t.co/atuJ1aAQLz

– Polkadot (@Polkadot) December 12, 2021

The Polkadot Wiki report wrote, “Integrating Statemint with your systems provides a number of benefits for developers and users.”

  • Network asset support (including CBDC).
  • Lower transaction fees.
  • Lower deposits (around 1 / 11) compared to Relay Chain. This includes regular and proxy / multisig deposits.
  • The ability to pay for transactions on certain assets. In this case, the account does not need to have a DOT in the account to pay commissions.

The above changes will also affect the Kusama testnet, which belongs to Polkadot.

If approved, the Polkadot ecosystem will attract new customers, this will help its wider adoption and possibly increase the price of DOT.

Essentially , Polkadot parachain does not support any assets other than DOT. The same goes for the Kusama network as well as its own KSM token. Only the Statemint and Statemine parachains have this option.

Referendum 46 involves upgrading Shell parachains to parachains and the Statemint interface. This will allow Polkadot users to issue their assets and NFTs online.

What is Polkadot?

What is Polkadot? Explaining in 5 minutes! (JustCrypta)

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2021

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