"REVOLUTIONIZING NFTS": BAYC Members Ernest Lee And Aaron Haber Launch UnVault, A New System That Lets NFTs Go CrossChain With Ease!

The world of Web3 and NFTs has changed a lot over the years. dApps, opportunities, and fun are now multichain, leaving many OG collectors on the outside looking in when attention leaves Ethereum mainnet and vice versa for newcomers who have found a home on other L1s and L2s. But all that is about to change thanks to these Bored Ape Yacht Club members’ new UnVault tech!

Earlier this week, Ernest Lee and Aaron Haber, who previously built Divit, which brought community royalty shares to NFTs earlier this year, announced UnVault, a new smart contract based escrow and lock/unlock mechanism that lets NFTs migrate between chains without duplication. This opens up a world of opportunities for NFTs while preserving their provenance.

“We got tired of the market being so segmented and tribalized,” Haber told the Gazette. “ We love NFTs, Founders, Artists, Collectors, Degens, Blockchains, EVERYONE! UnVault and Divit brings new life and liquidity to all these players.”

 

The tech behind UnVault is as simple as it is powerful. Holders place their NFTs into an escrow lock on the home chain. From there, they choose where to mint and send the NFT. The newly minted NFT on another chain is identical to the original and becomes the only version anyone can use because the original is locked up. This lets NFT holders get in on the action wherever it’s happening and allows them to return to their home chain whenever they want, with their NFT’s provenance intact. This is because nothing is burned or reminted,  the original NFT was just locked and unlocked!

 

“This system ensures that cross-chain migration is as trustless and seamless as a normal on-chain transfer, abstracting away complexity so users don’t need to manually handle bridge transactions or worry about wrapping/unwrapping assets,” Lee wrote in the UnVault whitepaper. “By using UNVAULT, NFT projects gain cross-chain reach without sacrificing control or security – the NFT collection remains unified, and the project can designate which blockchains are supported.”

With UnVault, NFT holders can now chase yield and find new opportunities for their NFTs outside the ecosystem their projects were minted in, which means everyone in Web3, no matter the chain, can ape into everything!

For more information on UnVault check out Haber and Lee's website here: https://unvault.com

The Bored Ape Gazette will be moderating an Ask Me Anything with Haber and Lee this Tuesday at 2 P.M. EST to find out more about UnVault and the duo’s longterm goals for their ever expanding Divitverse. Stay tuned for updates!