Currently, XDB Foundation is looking to enter the NFT space, and with Litemint, this entrance will be successful.
By Darya Rudz
Updated
3 mins read
The XDB Foundation, a non-profit organization that supports DigitalBits ecosystem, has announced a strategic partnership with Litemint, an NFTs platform based on Stellar (XLM). Within the agreement, the companies will improve NFT functionality on the DigitalBits blockchain as well as foster NFTs adoption.
Litemint CEO Frederic Rezeau commented on the partnership:
“With its unique closeness to the mainstream, gaming industry and core compatibility with the Stellar technology, DigitalBits is a perfect match for our NFT and collectibles platform. I am confident that together, provided our ability to execute on the open-source Stellar technology, we can leverage exceptional business opportunities with a seamless integration of DigitalBits and their consumer-oriented market.”
Michael Gord, Managing Director of the XDB Foundation, is enthusiastic about the deal as well:
“I’m very excited to see the upcoming integration of the DigitalBits Network into Litemint’s NFT and collectibles marketplace. NFTs have the ability to add an entirely new layer to the user experience, allowing for unique activations that can be implemented across numerous different industries. I look forward to seeing the ongoing innovation that continues to emerge from this new asset class as more and more people begin to use NFTs.”
DigitalBits blockchain is a fork of Stellar that launched in 2018. The protocol was designed specifically for payments, providing infrastructure that could streamline the way value transfer takes place within esports today. Besides monetizing in-game currency, the DigitalBits blockchain can enable real-time payment transfers around the clock. It also resolves issues in global tournament payouts, enhances fan engagement, and supports programmable incentives for gamers.
In addition, DigitalBits has built a robust partnership ecosystem. Litemint was one of the first organizations to start building potential synergies with DigitalBits in terms of NFT initiatives. But it is expected that other companies will integrate the DigitalBits blockchain as well.
Litemint positions itself as a tech company that “breaks barriers to connect crypto enthusiasts, collectors, and gamers to unique experiences”. Working on Stellar blockchain, Litemint strives to enhance the user experience with asset ownership (NFT and collectibles) and decentralized micro-transactions.
In January 2020, Litemint acquired Stellarport, a decentralized trading platform running on the Stellar network. The acquisition opened great opportunities for crypto users and gamers as well as brought dynamism to both platforms.
Recently, Litemint introduced its own NFT and Collectibles marketplace. With DigitalBits, this initiative will get a boost very fast.
XDB Foundation assists DigitalBits and related technologies. Its primary mission is to grow the DigitalBits community through partnerships and the XDB Army. Currently, XDB Foundation is looking to enter the NFT space, and with Litemint, this entrance is promising.
Advocating the innovation and adoption of the DigitalBits blockchain, XDB Foundation improves the consumer experience and corporate social responsibility initiatives. Furthermore, it determines commercial standards and requests for technical development. It also seeks for geographic growth of the DigitalBits community. Its team includes professionals and experienced blockchain researchers. Among those working with the company are Michael Gord, MLG Blockchain and GDA Capital founder, and Enzo Villani, CEO of Alpha Sigma Capital.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Darya is a crypto enthusiast who strongly believes in the future of blockchain. Being a hospitality professional, she is interested in finding the ways blockchain can change different industries and bring our life to a different level.
