LUKSO’s Partnership with Pastel Network Offers Much More than Just Decentralized Storage

LUKSO‘s NFT 2.0 enabling standards just received some extra support through a strategic partnership with Pastel Network. This partnership leverages Pastel’s robust decentralized storage and advanced NFT rareness assessment protocols, integrating them into LUKSO’s innovative blockchain infrastructure built for creators. In this post we will give the TLDR on what this integration means and its implications for creators, collectors, and developers.

What is Pastel Network?

Pastel Network is a “fully decentralized, interoperable layer-1 blockchain serving as the preeminent protocol standard for non-fungible tokens (“NFTs”) and Web3 technology” per their website. It provides next-generation infrastructure like:

1. Decentralized Permanent Storage (Cascade’s API): This ensures that NFTs are stored securely and indefinitely across a distributed network, protecting them from loss, tampering, and centralization risks.
2. NFT Rareness Assessment (Sense’s API): This detects near-duplicate assets and evaluates the uniqueness of NFTs, helping to establish their true value in a crowded market.

These protocols are built to be composable and can easily be available across many L1’s and L2s. A wide range of applications can be built directly on Pastel, enabling developers to enjoy the NFT primitives, composability, plug-and-play modules, and security of the broader network. Now onto what this means for the L1 built for creators.

What does this mean for LUKSO?

LUKSO, a Layer 1 EVM blockchain, aims to revolutionize social, cultural, and creative use cases in Web3. By integrating Pastel’s advanced technologies, LUKSO enhances its ecosystem with:

• Permanent Decentralized Storage: Cascade’s API will enable LUKSO developers to create and manage NFTs with the assurance of perpetual storage, enhancing the security and reliability of digital assets.
• Sophisticated NFT Rareness Detection: Sense’s API will allow developers to assess the uniqueness of NFTs, providing a robust measure of their rarity and helping to boost their market value.

To further explain what this means for LUKSO, let’s dive into some use cases and benefits.

Use Cases and Benefits for the LUKSO blockchain, starting with Decentralized Storage

The integration of Pastel Network’s tools into the LUKSO blockchain presents numerous exciting opportunities and advantages for various stakeholders:

1. For NFT Creators:
   • Enhanced Security and Longevity: With decentralized storage, creators can be confident that their digital masterpieces are permanently preserved and protected from single points of failure.
   • Increased Value Recognition: Creators will be able to promote the distinctiveness of their NFTs. This enables them to prove uniqueness and verify potential value.
2. For NFT Collectors:
   • Reliable Rareness Assessment: Collectors can make informed decisions based on objective measures of an NFT’s uniqueness, helping them build curated and valuable collections.
   • Long-Term Asset Security: The assurance of decentralized storage means collectors can invest with confidence, knowing their assets are safeguarded against loss and tampering.
3. For Developers:
   • Access to Cutting-Edge Tools: By leveraging Pastel’s APIs, developers on the LUKSO network can enhance their applications with advanced storage and rareness assessment capabilities, fostering innovation and growth within the ecosystem.
   • Building Trust and Transparency: Decentralized storage and accurate rareness assessment align with blockchain’s core principles, promoting a trustworthy and transparent NFT marketplace.

Clearly this is a great addition to the NFT 2.0 stack on LUKSO, further solidifying that LUKSO is the best chain to release an NFT project on. Not only is it the best place to release, its also a fantastic place to curate a collection. The standards work to serve the collectors as much as the creators. For more info on why LUKSO is the place everyone should be creating and collecting NFTs, you can checkout the LUKSO docs here. To stay up to date with more exciting integration news, follow the LUKSO X account and keep an eye out for the Weekly LUKSO Newsletter from KEEZ.

Sage,

(none of this is financial advice. Always do your own research)