BLOCKS DAO, LLC has recently announced a new strategic partnership with HUMBL for the purpose of experimenting with the capabilities and limitations of blockchain technology, bridges, and sidechains.
Who are BLOCKS and HUMBL?
BLOCKS is a growing project that aims to help migrate industries all over the world onto blockchain. The company views this as the best way to improve traditional industries while at the same time, it pushes blockchain adoption and grows its utility.
So far, the company has had a blend of blockchain and non-blockchain partnerships, indicating that there is interest among non-blockchain firms, and even entire industries to see the firm’s mission come to fruition.
Meanwhile, HUMBL is a project that aims to connect both consumers and merchants to the digital economy, and then connect them with one another. HUMBL comes as a new digital way to use money, and it is viewed as an early-stage fintech firm.
HUMBL and BLOCKS’ Strategic Collaboration
As mentioned, the two firms have recently announced a strategic partnership, and they have already started experimenting with the capabilities of the blockchain. The firms are focusing on the use of bridges, to increase interoperability in the blockchain sector — something that is key for the arrival of Web 3.0 — and sidechains, which have become crucial to reducing the gas fees, especially when it comes to the NFT market.
NFTs have exploded in 2021, but for the most part, managing them is still too expensive due to low scalability. However, the two companies are confident that experimenting with sidechains can bring forth a solution that will reduce gas fees for NFTs by up to 98%, improve NFT metadata storage across modalities such as video and music, and even create an improved “Verified by BLOCKS” registry, which would help customers track, verify, and authenticate their NFT holdings all over the world.
It is also worth noting that HUMBL is only the first of numerous companies in the Blocks Builders program. All of the companies from the program will be leveraging the various Blocks Builder’s Modules in order to build better solutions and products with BLOCKS.
What to Expect from the Partnership?
So, what will this partnership actually bring? Well, given that HUMBL’s NFT clients include a lot of professional and even Olympic athletes, as well as musicians, it means that a lot more of them will get an opportunity to launch their own NFT collections in the near future.
Furthermore, the partners are also planning on experimenting with BLOCKS’ builder blockchain plugin modules across a variety of modalities. Some examples include payments, real estate on HUMBL Wallet, ticketing, and alike. In other words, the firms plan to use their partnership to bring more new, innovative, advanced, and practical solutions that will help better the current industries, while simultaneously helping develop the growing NFT market by removing some of the obstacles that are currently still in its way. The modules are already live in BLOCKS github repository as well for other prospective BLOCKS Builders to look at implementing into their companies.
BLOCKS’ lead blockchain consultant, Adam Wolfe, commented on this issue, noting that every technology cycle has paired consumer packaging companies and the network they run on. With that in mind, the partnership between HUMBL and BLOCKS will focus on trying to achieve the same. The goal is to give global consumers a smarter blockchain grid, as well as a simple packaging layer on top of that grid.
The partnership will certainly be interesting to follow and see where the joint research and investigation of blockchain’s capabilities will lead the two firms, as their discoveries could potentially solve problems in the broader blockchain sector.