We are therefore happy to announce our collaboration with Elrond. This exciting partnership will enable users to add Elrond based NFTs to their collection.
Openness and interoperability are key drivers for Terra Virtua. This is what attracted us to Elrond, allowing innovative scenarios such as NFTs moving between different chains, NFTs tethered to multiple chains at the same time or Elrond-specific items that encourage participants to engage with their blockchain in order to complete their collection.
“Elrond’s “smart accounts” are unique in the blockchain space and allow tokens to be attached to an account, instead of being assigned to them in a separate smart contract. This has personal and legal implications for ownership that a lot of collectors find essential, and add real value to the NFT space for collectors and fans alike. The team at Elrond has already achieved great things and we are very excited about the future” said Jawad Ashraf, Terra Virtua Co-Founder & CTO.
Elrond is the internet-scale blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. Elrond can process upwards of 15,000 transactions per second (TPS), with negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
“There are important asset classes whose value immediately increases once they become globally available and immediately transferrable. The tokenization of everything is going to be a megatrend that the entertainment business is already leading. We’re happy to join forces with Terra Virtua and significantly expand the NFT space” said Beniamin Mincu, Elrond CEO.
The collaboration is important because it increases Elrond’s contributions to the highly dynamic NFT space and creates new opportunities for eGold holders to directly engage with collectibles.
About Terra Virtua
Terra Virtua (www.terravirtua.io) is an entertainment-focused collectibles platform. Using blockchain technology, it provides utility by allowing collectors of digital assets to display and interact with their virtual goods in PC, Web, Mobile and Augmented Reality. Leveraging the latest in mobile and gaming technologies, their mission is to engage and connect fan-based user communities.
Elrond (www.elrond.com) is the internet-scale blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.TerraVirtua