Holograph Use Case: Crosschain NFT Arbitrage
Holograph unlocks entirely new use cases for NFTs. Let’s explore an example.
Crosschain NFT Arbitrage will enable traders to profit from the slight differences in the price of NFTs listed on marketplaces across different chains.
Simply put:
Buy NFT at a lower price on Chain A
Bridge NFT
Sell NFT at a higher price on Chain B
Profit the difference
Here’s an example:
Buy WonderfulDay Tiger NFT listed at 3 BNB on BSC
Bridge NFT to Fantom
Sell WonderfulDay Tiger NFT for 2,427 FTM on Fantom
Earn 81 FTM in profit
Crosschain arbitrage will catalyze volume on less liquid chains. Over time, NFT prices will arrive at a true fundamental value, resulting in greater market efficiency as prices converge between chains.
Thanks for reading and make sure to keep in touch!