Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Saturday, 29 January 2022, 01:00 HKT/SGT
Share:
    

Source: OVR
Augmented Reality DApp Switches Networks from Ethereum to Polygon

Udine, Italy, Jan 28, 2022 - (ACN Newswire) - OVR has started the first phase of migration from the Ethereum network to Polygon. The company has transferred Merkle Proof and minting functions from the former network to the latter. As a result, users can now mint their OVRLand NFTs on Polygon for only a few cents.

Similarly, OVR has added Polygon network payments alongside Ethereum and BSC payment options in the primary market. This, therefore, results in lower transaction costs.

The secondary market will remain unaltered until the migration's completion.

OVR made its decision– according to their blog– to switch to Polygon based on the following: Transaction costs, decentralization trade-offs and project vision, current adoption, vicinity to the Ethereum ecosystem, and finally EVM compatibility.

Polygon offers the scalability that OVR is searching for to make NFT minting and transfer affordable enough for average transaction sizes. Most importantly, Polygon's vicinity to Ethereum dramatically reduces the risk of OVR falling into a 'ghost chain'.

The migration's second phase will take place in February. OVR will begin minting OVRLands saved as Merkle Proofs on the Ethereum network to their owners' wallets on Polygon. There are currently over 24k different wallets owning more than 700k OVRLands. This will result in fully decentralized ownership of OVRLands, as well as widespread public scrutiny of minted lands and the owners' community. Additionally, the light minting function will disappear as every purchased OVRLands will be directly minted on Polygon as NFTs.

This news follows the OVR announcement of being able to swap OVR tokens on the Polygon implementation of Uniswap V3. Users were able to use the official Polygon Bridge to move ERC-20 OVR tokens from the Ethereum network to Polyon and vice-versa. The bridge will automatically recognize the OVR tokens in users' Ethereum wallets and will perform the bridging. Users simply needed to connect their wallets to the DApp.

Prior to that, OVR announced new app updates including additional features. A brand new UI was introduced for OVRLive, along with custom animation avatars, group chats, and preview and support for 3D assets. Additionally, users were given the option to display and add new friends directly from Live Events.

OVR expressed its pride in greatly improving user experience. This follows the fact that OVR has exceeded 700k OVRLands sold, as well as having integrated many NFT projects in the metaverse.

OVR aims to become a point of reference when users think about the metaverse.

Social Links
Twitter: https://twitter.com/OVRtheReality
Instagram: https://www.instagram.com/ovr_metaverse/?hl=it

Media contacts
Brand: OVR
Contact: Gianluca Sibilia, digital marketing researcher
E-mail: staff@ovr.ai
Website: https://www.ovr.ai/

SOURCE: OVR




Topic: Press release summary
Source: OVR


http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2022 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.



Latest Press Releases
nybl Joins World AI Show & Awards as The Official Artificial Intelligence Partner  
Sunday, May 22, 2022 9:07:00 AM
Straumann Malaysia, part of The Straumann Group, a Leading Implantology Company, Intends to Provide 3,000 Dental Implant Packages to the Ministry of Health Malaysia as part of MoU  
May 21, 2022 08:20 HKT/SGT
MC and Morgenrot Enter into Capital and Business Alliance  
Friday, May 20, 2022 7:19:00 PM
12th PropertyGuru Asia Property Awards (Singapore) search for the finest real estate as market sentiment improves  
May 20, 2022 19:15 HKT/SGT
PhilSec 2022 Set to Discuss Strategies to Strengthen Philippines' Cybersecurity  
May 20, 2022 16:35 HKT/SGT
TMT Offers Immersive Customer Experience with Latest Megastore in Pavilion Bukit Jalil  
May 20, 2022 16:00 HKT/SGT
ROOKIE Racing and TOM'S SPIRIT Announce Team Setups for Super Taikyu Series Fuji 24 Hours Race  
Friday, May 20, 2022 12:42:00 PM
Sirnaomics will present clinical study results and development strategy for Cancer RNA Therapeutics at the 2022 Pre-ASCO China Summit  
May 20, 2022 11:10 HKT/SGT
MC and Kurashiki City Sign Regional Development Agreement  
Friday, May 20, 2022 9:55:00 AM
BDO announces winners of the BDO ESG Awards 2022  
Thursday, May 19, 2022 9:20:00 PM
More Press release >>
 Events:
More >>
 News Alerts
Copyright © 2022 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 214 890 4418 | Beijing: +86 400 879 3881 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575

Connect With us: