Ripple Partner Launches NFT Platform to Tap Billion-Dollar Interoperability Market

• Flare, a Ripple partner and layer-1 Ethereum Virtual Machine (EVM) blockchain, recently launched the NFT platform Sparkles.
• The primary goal of the platform is to incorporate Flare’s native interoperability protocols and increase use cases for NFT utility.
• After going live in January 2021, Sparkles has handled around $3.5 million in sales and hosted over 3200 NFT collections, with plans to become net-zero by 2023.

Ripple Partner Launches NFT Platform

Ripple partner Flare Network recently introduced their non-fungible token (NFT) platform Sparkles on their layer-1 Oracle network. The primary goal of the platform is to incorporate Flare’s native interoperability protocols, increasing use cases for NFT utility.

Sparkles Performance So Far

Since its launch on the canary network Songbird in January 2021, Sparkles has handled around $3.5 million in sales and hosted 3200 NFT collections. Additionally, they have pledged to become net-zero by 2023 as part of the Crypto Climate Accord, achieving an environmentally positive status via carbon credits.

Interoperability as Focus Area

Interoperability is quickly becoming a major focus area for many companies and communities operating in the blockchain domain due to its potential scalability benefits and user onboarding capabilities. As such, Ripple partner Flare Network has been working diligently on this area since launching two core protocols for decentralized interoperability applications earlier this year on January 10th .

Test Purchase Demonstrates Interoperability

To demonstrate interoperability potential last month through the test purchase of an NFT on the Songbird platform paying in Dogecoin and XRP was shared by Flare itself.. This proved that future applications could be created that are interoperable across several blockchain ecosystems as well as internet platforms with ease using Flare blockchain technology.

Concluding Remarks

In conclusion, Ripple partner’s flare network’s introduction of non fungible token (NFT) platform Sparkles will facilitate additional opportunities for developers to create applications which are easily interchangeable across several blockchains & internet platforms whilst addressing Intellectual Property (IP) rights issues & creating a DAO decentralised infrastructure which also aims at becoming net zero by 2023 via Carbon Credits uptake – thereby helping expand use cases for interchange protocols within billion dollar markets!