Wednesday, 17 April 2024

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Injective introduces CW-404 standard in partnership with DojoSwap

Injective introduces CW-404 standard in partnership with DojoSwap

  • Injective unveils CW-404 standard with DojoSwap.
  • CW-404 enables fractional NFT ownership, starting with the Sushi Fighter NFT collection.
  • Aiming to attract Ethereum’s investment, Injective pioneers new blockchain standards.

Injective, a Layer 1 blockchain, has unveiled its latest move in the world of digital assets with the introduction of the CW-404 standard.

This development, in collaboration with decentralized exchange DojoSwap, aims to revolutionize the landscape of non-fungible tokens (NFTs) and token standards.

CW-404 standard: fractional ownership to NFTs

Injective’s CW-404 standard mirrors the highly acclaimed ERC-404 standard, known for its groundbreaking approach to NFTs on the Ethereum blockchain. CW-404 combines elements from the CW-20 and CW-721 standards, paving the way for fractional ownership of NFTs. This innovation makes NFTs more accessible to a wider range of users and unlocks a plethora of financial possibilities within the digital asset space.

The Sushi Fighter NFT collection emerges as the pioneer in utilizing the CW-404 standard on the Injective network. This collection showcases generative profile pictures and custom minting logic, offering users a unique and engaging experience in the world of NFTs. With the CW-404 standard, the Sushi Fighter NFT collection opens up new avenues for creativity and exploration in the NFT marketplace.

Injective’s bid to attract Ethereum’s investment

The introduction of the CW-404 standard aligns with Injective’s strategic vision to attract investment from Ethereum’s thriving ecosystem. While ERC-404 tokens have garnered significant attention and investment in Ethereum, Injective aims to capitalize on this momentum by offering a comparable standard on its own network. By partnering with DojoSwap, Injective expands its reach and offers users a seamless experience in tokenizing and trading assets within the CW-404 framework.

Injective’s decision to adopt the CW-404 standard reflects its commitment to innovation and user-centric solutions in the blockchain space. With the potential to unlock new possibilities for decentralized applications (dApps) and financial innovations, CW-404 positions Injective as a frontrunner in the evolving landscape of digital assets.

Future prospects for Injective and CW-404

As Injective continues to develop and refine its offerings, the…

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