IOTA and Soonaverse doubling total amount of NFTs with this move and massive updates – Are the prices poised to explode?

• Soonaverse has completely decentralized the awards functionality on the platform to distribute badges and tokens automatically on the Shimmer Network.
• The Soonaverse NFT marketplace got just bigger as any NFTs minted on the Shimmer network can be deposited in the marketplace.

Shimmer Network-based Soon Labs has recently rolled out key updates while doubling the total number of non-fungible tokens (NFTs) on the entire network with this single move.

In its latest development, Soonaverse announced that it has completely decentralized the awards functionality so that badges and tokens can be automatically minted and distributed on the Shimmer Network. Upon issuing them, these awards are fully in the control of the owner.

With this new functionality in place, every time Soonaverse gives someone a badge, they would be sending a time-locked NFT and unlocked tokens via the Shimmer Network. However, Soonaverse has a special surprise for all the outstanding awards distributed before this feature release. They are roughly 2,600+ awards with 60,000+ badges. Soonaverse will be minting all the existing badges and XP tokens within the system. Besides, they have also decided to fully refund the storage deposits.

This is a massive move for Shimmer because Soonaverse will be doubling the total number of NFTs on the entire network. In its official announcement, Soon Labs noted:

As part of this transition process, and the fact that all badges (even ones not yet distributed) must be minted and have a storage deposit paid by the Soonaverse, we will only be minting all badges plus an additional 20% if there are still undistributed badges as part of a singular award. If a project would like more badges then they will have to create a new award under the new system.

Soonaverse NFT Marketplace Just Gets Bigger

Soon Labs said that they are expanding the NFT marketplace and users aren’t limited to depositing only Sonnaverse-created NFTs in it. Thus, users will be able to deposit any NFTs minted on the Shimmer network. This will further make the Soonaverse NFT marketplace bigger in size.

Additionally, Soonaverse has also partnered with an all-in-one audit platform AuditOne in order to bring more security to the Web3 world. “We’re proud to have partnered with them and with this release take the relationship to the next level. You’ll begin to notice more AuditOne widgets around the Soonaverse including in your member profile, on space dashboards, and on token pages,” they noted.

Soonaverse further added that they will be implementing KYC services soon on the platform for user authentication. Users willing to participate in those services can select the AuditOne widget through their member profiles. From here, they can request KYC verification for their profiles. In their clarification, Soonaverse noted that ” all KYC data is in full control of AuditOne and the Soonaverse has no access to that information”.