The NFT marketplace Sparkles launched on the layer-1 EVM oracle platform Flare for interoperable protocols to give holders of NFTs more ways to use them.
Flare, the layer-1 Ethereum Virtual Machine (EVM) blockchain, went live on January 10 after it launched two core protocols for decentralized interoperability applications. Developers can use the blockchain network to make apps that work across different blockchain ecosystems and internet platforms.
Less than a month later, on March 2, Flare added the Sparkles platform for NFTs to its layer 1 oracle network.
According to the announcement one of the main goals of the Sparkles NFT platform is to improve the interoperability of native Flare protocols so that NFT can be used in more situations.
The NFT platform intends to target other significant problems in the industry, such as intellectual property (IP) rights, by attaching on-chain IP licensing to future collections. After becoming a DAO, Sparkles also intends to decentralize its core technology and infrastructure.
Since its launch on Songbird, Flare’s canary network, in January 2022, Sparkles has accounted for 90% of NFT sales, totaling $3.5 million in sales. It currently hosts over 3,200 collections.
Sparkles also joined the Crypto Climate Accord in 2021 and made a promise to become net-zero by 2023. Carbon credits, which were spent on-chain through the Toucan bridge, are said to have helped the platform become environmentally positive.
In 2023, interoperability will be a major motif in the decentralized space. Helping with scalability and onboarding more users is one of the primary focuses of many businesses and communities in this space. New tools, such as trustless bridges, have been implemented to create safer implementation options for interoperable solutions.
The Web3 Domain alliance recently added 51 new members and subsequently identified interoperability as one of its primary focuses for the year.
Content Source: cointelegraph.com