Polygon is a sidechain scaling solution for Ethereum that enables cheaper and faster transactions than the Ethereum mainnet. Unlike the energy-intensive proof-of-work (PoW) mining system used for Ethereum, Polygon relies on a more eco-friendly proof-of-stake (PoS) consensus model that is still backed by the security of the Ethereum network.
“We have enjoyed watching the NFT market grow rapidly throughout the past two years, but acknowledge that there are certain roadblocks that exist within the space, including high gas fees and ecosystem limitations,” Rarible co-founder and CEO Alexei Falin told Decrypt.
“As a top NFT protocol and marketplace,” he continued, “we have a responsibility to solve issues related to NFT creation and consumption, which is at the core of our multi-chain vision.”
In addition to supporting Polygon NFTs on its platform, Rarible has also announced a partnership with Polygon Studios, an initiative that backs gaming, NFT, and metaverse projects built on the Ethereum scaling solution. Polygon Studios will assist Rarible with marketing and developer support as part of the alliance.
“As the protocol continues to evolve into the go-to platform for NFT developers, support from Polygon Studios will be extremely beneficial,” Falin told Decrypt.
Rarible rolls out ‘multi-wallet’ feature
In tandem with adding Polygon to its platform, Rarible also today launched a multi-wallet profile feature for Rarible.com, which lets users sign in with up to 20 wallets at a time across different blockchains.
That way, users with multiple wallets across various supported ecosystems won’t have to constantly sign in and out when buying and selling NFTs on Rarible.
“We have seen firsthand how inconvenient it is to log in and out of wallets that hold collectibles spanning blockchains,” said Falin. “To streamline this process for our users, the multi-wallet profile can support collections across any Rarible-supported blockchain in one place, so you can access items with one simple click.”
Rarible generates significantly less trading volume than the leading marketplace in the space, OpenSea, but has also taken a different approach.
The decentralized platform is built around the RARI token, which rewards users and allows them to have a say in governance. Rarible has also pushed faster towards a multi-chain future by supporting multiple platforms.
Additionally, while Rarible.com is an NFT marketplace, the Rarible Protocol behind it can be used by other builders to power their own NFT applications.
After initially being built around Ethereum, Rarible added support for Flow in November. Flow is Dapper Labs’ blockchain platform that powers NBA Top Shot, UFC Strike, NFL All Day, and a rising number of projects from third-party creators. In December, Rarible added support for NFTs on Tezos, a platform popular with digital artists with growing interest from brands.
In November, Falin told Decrypt that both Polygon and Solana were also on Rarible’s roadmap. Solana is currently the second-largest ecosystem for NFTs, trailing Ethereum by a wide margin.
OpenSea already supports Polygon, and while it has not yet officially announced plans for Solana, recent leaks suggest that OpenSea will adopt that platform as well.
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