Matic Progress Report - Phase 2

Matic Phase 2: Supporting NFTs (ERC721)

Matic offers low transaction costs, scalably and speed, everything a blockchain-based game is looking for. This makes Matic the ideal blockchain for games to create and manage digital items such as swords, cars, animals and even pieces of land on the blockchain.
Therefore we decided, after adding support for fungible tokens (ERC20) in phase 1, to fully support non-fungible tokens on Matic as well. Non-fungible tokens are also known as NFTs or nifties, which are a special type of cryptographic token which represents something unique; non-fungible tokens are thus not mutually interchangeable by their individual specification. The most common standard for NFTs is ERC721.
Arkane users are able to receive and send any ERC721 NFT on Matic.

Three ERC721 non fungibles on Matic

Our Arkane wallet is able to read the meta-data of each NFT and visualize it to the user. The system is built in such a way that new NFT collections will automatically be picked up and thus projects or games don't need to register their NFTs or collections in our platform.
The Matic NFTs are also fully supported by our Arkane API that allows our B2B users to interact with Matic NFTs in their applications.

An ERC721 on Matic with meta-data

Have a look at the small update video below to see the NFT implementation in action. From a user's wallet, we will browse some NFT's and send one to a friend using his email address as the destination.

Our platform is designed for developers and built for businesses. So every functionality we release and support in our frontend is also available to developers. Including performing ERC721 transactions on Matic.

API docs for Matic ERC721 transactions

About Matic

Matic Network brings massive scale to Ethereum using an adapted version of Plasma with PoS based side chains. It provides a solution for faster and extremely low-cost transactions with finality on the main chain.
The system ensures liveliness using PoS checkpoints which are pushed to the Ethereum mainchain. This enables a single Matic sidechain to theoretically achieve 2 16 transactions per block, and possibly millions of transactions on multiple chains in the future.