Rarible, a popular NFT marketplace, has announced that they are working to add cross-chain compatibility to their platform. They have stated that they have considered Tezos, FLOW, and Solana for increased transaction speeds and lower gas fees thus far.
Rarible’s Cross Chain Compatibility
Rarible has stated their intention to integrate Tezos, FLOW, and Solana into the platform, resulting in a cross-chain platform. The announcement came as Rarible CEO and co-founder Alexei Falin spoke at NFT.NYC this week, emphasizing the importance of industry innovation in order to stay ahead of the competition. Tezos was the first character introduced by the team last week. Allowing users to deploy the Rarible protocol on their blockchain.
In many cases, the reason for making this move has already been stated. The fast transaction speeds and low gas fees set Ethereum apart from other blockchains. They will not be able to enjoy these advantages until Ethereum 2.0 is released. Furthermore, many blockchains are far more environmentally friendly than Ethereum, which has received negative attention for its proof of work method. This could change again once we reach the Ethereum 2.0 stage.
More rumors have surfaced regarding the layer 2 solution, Polygon, which is expected to be acquired by Rarible. They are aware of their presence. This, however, has not been confirmed.
Rarible is a creator-focused NFT marketplace that is currently only available on the Ethereum blockchain. They are a major rival to Opensea, which is unquestionably the largest NFT marketplace. Rarible aims to make it possible for digital artists and creators to create and sell custom crypto assets. These are symbols of ownership over their digital work.
Crypto art, profile picture collections, and virtual land are all available on their marketplace. Many of the same massive projects that can be found on Opensea can be found on this platform.