NFT marketplace Sparkles has went live on Flare Network, a decentralized blockchain system that uses its own consensus protocol.
The move makes Sparkles, which handles over 90% of NFT sales on Songbird, the first NFT platform on the new layer 1 oracle network. Sparkles plans to leverage Flare’s native interoperability protocols to enable new use cases for NFTs and their holders. Its APIs are integrated into Bifrost Wallet, the most widely used wallet on Flare, and D’Cent wallet, so users can manage their NFTs directly in-wallet.
The Flare Network is a sophisticated blockchain technology that aims to increase the functionality of the Ethereum Virtual Machine (EVM). The project essentially wants to bring DeFi capabilities to other protocols like Ripple and Litecoin.
In addition, the Flare Token adds value to both the network and the currency, providing functionality related to protocol governance, collateralization, and data via an on-chain oracle.
Flare’s State Connector protocols enable information, both from other blockchains and the internet to be used securely, scalably and trustlessly with EVM-based smart contracts on Flare chains. In this case, it has been used to prove that a transaction has been confirmed on a non-Flare chain and simultaneously verify the correct payment reference was included.
Hugo Philion, Flare CEO & Co-founder comments: “We are very pleased Sparkles have agreed to continue their NFT platform development on Flare, integrating our core protocols to champion NFTs and provide opportunities for SGB and FLR holders to participate in the digital art space. We look forward to seeing Sparkles become a community-owned platform, push the boundaries of NFT innovation on Flare and support digital artists on their journeys.”
Sparkles was the first NFT marketplace in the blockchain space that signed up to the Crypto Carbon Accord, pledging to become carbon neutral by 2030. However, within one year the platform had not only achieved carbon neutrality, but is now the first climate positive entity on the Songbird Network.
On the operational side, Sparkles is addressing the issue of NFT intellectual property (IP) rights for NFT owners in their upcoming DOTM collection, by attaching on-chain IP licensing. While there is a rich set of features planned in the roadmap, including in-app minting, make offers and auctions, the platform offers users of the songbird chain a safe place to buy and sell NFTs.
Shane Snary, CMO of Sparkles, added: “Sparkles is a unique business in the world of web3. We aim to go beyond just being a place for users to buy and sell NFTs, educating and empowering artists around the world is crucial to the step of making NFTs the go to standard for artists to adopt. With utilizing the Flare blockchain Sparkles is positioned to make this a reality by setting up modules where we can teach artists how to use our marketplace and hope to extend it further into universities/schools around the world.”
Mohamed Kanoun, Sparkles Founder said: “Sparkles is honored to be leading the way when it comes to NFTs on Flare. We believe Flare will be home to many new artists, brands, companies, games, metaverses and much more. The future is bright for NFTs on Flare Network. ”