The Root Network sees new bridge for interoperability
The Root Network Overview - January 8, 2024
Welcome back to The Root Network Overview. We’re creating the best content for the AI and metaverse ecosystems to get up to speed on the latest updates, metrics, developments, insights and more on The Root Network and Futureverse.
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The ecosystem insights
$ROOT price: $0.0309 (-9.12%)
The Root Network holders: 305.5K (+0.63%)
The Root Network total transfers: 1.8M (+5.88%)
The Root Network total transactions: 407.8K (+0.34%)
Total staked: 328.8M (+1.61%)
The percentages and metrics are calculated from its change over a 14-day time frame, unless noted otherwise.
Highlight of the The Root Networks
Diving deeper into some of the biggest updates from The Root Network, powered by Futureverse.
💫 What’s happening: Tradeverse released a bridge that lets users move assets between XRP Ledger and The Root Network.
💫 Why it matters: Tradeverse is a gamified marketplace designed for buying, selling and minting NFTs, with a strong focus on gaming assets within the open metaverse. The platform looks to strengthen The Root Network’s ability for interoperability across the ecosystem through this bridge feature.
Interoperability is The Root Network’s north star and Tradeverse’s cross-chain asset management aims to strengthen this. The platform’s new bridging feature can enhance user accessibility, since assets can be traded across multiple chains. This is particularly valuable for onboarding users who may not yet be familiar with NFTs or metaverse applications because it provides more visibility.
Furthermore, cross-chain asset management gives ecosystems exposure across multiple chains without additional infrastructure costs or security risks. Since users can move assets across different chains, it lets users hold those assets on their chain of choice. In turn, developers can create more applications that utilize these cross-chain assets.
💫 The bigger picture: Overall, The Root Network’s goal of interoperability across its ecosystem have gotten closer with this update. The ability to move freely between chains while maintaining a smooth and intuitive user experience represents a promising sign for the open metaverse. As interoperability becomes increasingly central to user adoption, innovations like this bridge play a key role in building a connected and accessible digital future.
Built on Root
MINE WARZ migrated its web3 mining game to The Root Network
The project is hosting a rewards campaign to celebrate it - see details here
Anti-Social Media completed its LootCrate mint for its phygital collectible brand on The Root Network - see what’s next via a thread on X
Root Blocks shared its second "Layers of Reality" mint will take place in mid to late Jan.
ASM B.R.A.I.N.S hit 17 ETH (or $61.5K) in volume, a 30-day high (shown below)
Source: OpenSea
Want to catch up? Check out the monthly Futureverse updates here.
Driven by community
Highlighting the companies, communities and users tied to The Root Network.
More than 21.8M $ROOT rewards were distributed for Quest 015
Read about how Quest campaigns play a part in the token, via a thread by X user nftsales
Untamed Isles, an open world MMORPG, announced it joined the Gen3 Games ecosystem
Zerpmon released staking to earn rewards for adding liquidity to ZRP pools on The Root Network or XRPL
Listen to these podcasts about The Root Network ecosystem
X user MattBartlett talked about Futureverse NFTs on SegMint
X user Schiller interviewed Rox from Girin Wallet
Get involved in the future
Want to dive into the ecosystem full-time? Find the latest job postings here or get involved at an event below.
ASM is hosting an X space on Jan. 9 at 2PM EST about AI agents in the open metaverse
Try out ALTERED STATE’s meme machine for FLUF World and Cool Cats
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This product was built by Token Relations.
This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.
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