Cision PR Newswire

Lambda256 Launches NFT Bridge Connecting Luniverse to the Ethereum

SEOUL, South Korea, April 12, 2022 /PRNewswire/ -- Lambda256, the blockchain arm of a South Korean fintech leader Dunamu and an operator of a blockchain service platform Luniverse, has announced the launch of "Luniverse Multichain NFT Bridge" service along with the upgrades on NFT-related services on April 12. Luniverse is playing a key role in Lambda256's competitiveness in Asian NFT market, by providing a technical base for NFT services of Lambda256 such as Upbit NFT. Through Luniverse Multichain Bridge service, Lambda256 aspires to expand Luniverse ecosystem to multichain environment such as Ethereum.

The new Luniverse Multichain NFT service provides NFT features including the NFT bridge service connecting Luniverse and Ethereum, IPFS, APIs dedicated to NFT, and a carbon-neutral blockchain environment.

Lambda256 expects to expand the utility of Luniverse NFT with the Bridge service, which will enable Luniverse-based NFTs to be transferred to the Ethereum chain. The Bridge enables Luniverse-based NFTs sold on both Luniverse and Ethereum NFT markets such as Upbit NFT and OpenSea. Luniverse Bridge is provided without the transaction fee temporarily for the expansion of its user base. Users can claim the fee from Faucet platform on the Luniverse Bridge website. Another merit of Luniverse NFT is multichain scalability at reasonable cost, intensified by the recent upgrade on the NFT API with the functions such as bulk minting, Ethereum minting, and IPFS metadata management. The metadata management system using IPFS, a feature to be supported soon, will be a foundation of decentralized and a developer-friendly environment.

According to Lambda256, "the Luniverse Multichain NFT service with a stronger API and the Bridge service together have built a convenient and highly utilized development environment. By connecting to the Ethereum chain, and other mainnet protocols in the future, the services will contribute to the expansion of the Luniverse ecosystem. Luniverse now provides easy and pleasant development for developers and an affordable NFT business model for contents creators and entrepreneurs."

Lambda256 will unveil the Luniverse Multichain NFT Bridge on April 12. Detailed information on the service could be found on Luniverse Community and Luniverse Medium after the reveal.

About Lambda256

Lambda256 was separated from Dunamu in March 2019, with Luniverse - a blockchain service platform that offers a comprehensive portfolio of blockchain solutions that addresses various challenges of blockchain adoption - to popularize blockchain. Lambda256 managed to receive series A funding of $1.4m in March 2021, followed by series B funding of $8.5m in December 2021. In 2019, Lambda256 established a Travel Rule firm, VerifyVASP, in Singapore. VerifyVASP is now a solution helping VASPs worldwide meet the Travel Rule requirement by using a decentralized protocol to exchange real-time information of the originator/beneficiary of virtual assets. Lambda256 is actively expanding its ecosystem through NFT tech service, such as Upbit NFT and Cyphrly, a global NFT marketplace.

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SOURCE Lambda256