Remember Polkadot? It promised the vision of multi chain bridge and the transactions. And then it took a lot of funding from around the world but did not deliver.
Then comes few more protocols that offered the same solution but could not deliver it on the consistent basis. A lot of these platforms suffered from the limits of liquidity, bridge issues and the chain congestion.
In near future such multi chain protocols can serve a lot of purpose and they can be of use in many strong use cases in the markt.
So let's talk about them.
Multi Chain Bridge
Some of the chains have the strong currencies and some chains have the stable coins. You want to transfer the asset from such one chain to another chain. In that case you would need a bridge that could do this.
I am sure many projects came and gone on Ethereum and other chains. But the thing is that sooner or later we all have to revive such projects. The reason being as long as we have no such bridges established, there will be more forced need of centralized exchanges.
Because the need for centralized exchanges came out because people need something stable place to convert the crypto to FIAT. And that has been the case in the absence of multi chain bridge.
NFT Swapping
Say you have the NFTs on the polygon and you want to move them to the Solana. What would you do? In such case you can make use of the swap services for the NFTs.
If you check some of the wallets out there that store the NFTs, they can have the swap service built in. So whenever you wish to liquidate then in that case you can either sell or simply swap to another chain for liquidating.
NFTs in near future would be into the gold, silver and other assets too.Some of us would be investing into that world in order to stay financially invested into it. So there will be some new market opening on that note.
Asset Swaps in Forex Market
Let's assume that Japan wants to ban the decentralized stuff. But they want to accept the forex and crypto combination. And they want to pay for the digital assets on their soil. So they can use the multi chain asset swap service.
Where say some digital asset of america can be swapped in the Japan and that would be happening very quickly in the background. So such type of the multi chain usage would be a good growth for many economies in the world.
Why do you need swaps? To transfer one coin to another and then cashing it out for FIAT or even for storage or shifting yourself in context of portfolio. So if you happen to be doing things in that direction then using swap services is inevitable.
When it comes to the future of the swaps in the crypto, NFTs and the metaverse we need some of such services. As they tend to solve some really big problems in the market.
What do you think?