Spanish blockchain innovator Freeverse has revealed its ambitious project, LAOS, a new layer 1 blockchain set to launch as a parachain on Polkadot in 2024. This announcement comes in collaboration with the LAOS Foundation, a Swiss non-profit dedicated to fostering the blockchain’s growth through its ownership of LAOS tokens.
LAOS: The Universal Layer 1 for Digital Assets:
Positioned as “the universal layer 1 for digital assets across all blockchains,” LAOS is designed to enable creators to mint NFTs and various digital assets directly on its platform. Notably, LAOS extends its support beyond its native blockchain, facilitating compatibility with other prominent blockchains such as Ethereum, Polygon, and Solana through its bridgeless minting architecture. This innovative approach leverages Polkadot’s cross-consensus messaging system, emphasizing the concept of a Universal Location.
Interoperability Vision for Digital Assets:
Freeverse’s CEO, Alun Evans, shared the company’s vision for an interoperable future for digital assets, emphasizing LAOS’s adaptability for tokenizing real-world assets or creating assets for games and virtual environments. LAOS’ unique feature lies in its ability to separate the ownership of an asset from its attributes. This distinction allows creators to generate new attributes for assets, including legacy assets, on emerging blockchains, fostering the adoption of User-Generated Content (UGC) and diverse ecosystems.
Evolution from Dynamic NFTs to LAOS:
The development of LAOS represents an evolution of Freeverse’s previous venture into dynamic NFTs, known as its living asset ecosystem. Established in 2019 and headquartered in Barcelona, Freeverse has secured $13 million in funding to date, with the most recent funding round amounting to $10 million in May 2022.
LAOS on Polkadot’s Kusama Network:
Currently accessible as K-LAOS on Polkadot’s Kusama ‘canary’ network, LAOS is undergoing initial testing. The anticipated token launch and the primary Polkadot launch are set for the spring of 2024, marking a significant milestone in Freeverse’s journey to establish LAOS as a pioneering force in the blockchain and digital asset landscape.
Freeverse’s announcement of the LAOS blockchain signifies a bold step towards creating a universal layer 1 platform for digital assets with unprecedented interoperability. By leveraging Polkadot’s infrastructure, LAOS aims to empower creators to mint assets seamlessly across various blockchains, driving innovation in the NFT space. As the project progresses through testing on Polkadot’s Kusama network, the spring of 2024 holds the promise of LAOS emerging as a transformative player in the realm of blockchain technology and decentralized digital assets.