Polkadot has announced the winner of its latest parachain auction - Moonsama.
Moonsama is set to become the first NFT-governed blockchain.
Moonsama focuses on bridging the gap between Web2 and Web3 games.
On Monday, Polkadot announced the winner of its latest parachain auction. Moonsama Network, an NFT-focused project, will become Polkadot's 42nd parachain.
According to Polkadot, Moonsama wants to grow the adoption of NFTs by "developing infrastructure and application utility solutions" for the market.
Moonsama - Bridging Web2 Gaming and Web3
Moonsama aims to bridge the gap between Web2 Gaming and Web3 ownership. And one of the efforts to accomplish this goal is Moonsama Multiverse Portal, which allows developers to connect their Web3 applications with Web2 games.
"NFTs launched on Moonsama are programmable and composable through both WASM and EVM interfaces. Native projects have access to a range of utility tools," Polkadot wrote.
To promote this, Moonsama has set up designated servers for popular Web2 games, including Minecraft. The platform's tools enable the integration of Web3 features into these Web2 games, including land ownership in Moonsama designated servers, NFT galleries, and more.
The first blockchain where NFT owners have full control
The entire Moonsama ecosystem will have a unique governance structure. Instead of just being token holders, NFT holders will have decision-making power over the project.
“The Moonsama network will be the world's first blockchain governed by NFTs,” Polkadot pointed out.
Since Moonsama started as an NFT collectible, the owners of Moonsama NFT are responsible for the entire ecosystem. This means that the NFT holder will also be responsible for the Moonsama parachain.
What are Polkadot Parachains?
Parachains are blockchain networks that operate in parallel with Polkadot's main blockchain network. Owners can customize these string umbrellas to fit the specific needs of their application. At the same time, the Polkadot blockchain is concerned with consensus, allowing all parachains to benefit from its security and decentralization.
Polkadot currently has 42 parachains, with some achieving significant growth. According to Polkadot, parachains Acala Network and Parallel both have around $200 million in TVL (total value locked) in 2022. Moonbeam, a popular platform for cross-chain applications, has $85 million in TVL.
Why should you care?
Polkadot is an innovative blockchain project with a large community and ecosystem. Expanding into NFTs could help accelerate innovation in the space.