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Cosmos Integrates ICS-721 Standard to Enable Cross-Chain NFT Tracking and Transfers

Cosmos has announced the integration of a new standard for NFT interoperability, which will allow users to track and transfer NFTs across different blockchains without the need for a bridging protocol. The ICS-721 standard is an application layer inter-blockchain communication protocol that enables communication between blockchains.

This new protocol will enable the integration of NFTs across multiple sectors, including gaming, web3 identity protocols, and social platforms. The ICS-721 NFT standard is a collaboration between the Interchain Foundation and web3 startup Bianjie, and it will initially be offered via inter-blockchain communication-enabled Ethereum, Substrate, CosmWasm, and Cosmos SDK chains. Plans are already underway to add support for more ecosystems.

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