Sparkles launches first NFT platform on Flare

• Sparkles has observed that the interoperability protocols of Flare could enable it to unlock new use cases for NFT and its holders.

• Flare’s State Connector protocol makes it possible to use off-chain information securely and scalable, with smart contracts on Flare.

A latest partnership deal has made the Non-Fungible Token (NFT) marketplace Sparkles become the first NFT platform to launch on the layer-1 Ethereum Virtual Machine (EVM) blockchain Flare. Flare enables developers to create applications that are interoperable between blockchain ecosystems and internet platforms. After launching two core protocols for decentralized interoperability applications, Flare went live on January 10. Sparkles, on the other hand, attempts to address issues of NFT’s intellectual property rights (IP) for NFT owners in DOTM collection that is in the pipeline. This will be done by attaching on-chain IP licensing.

According to the announcement, Sparkles has observed that the interoperability protocols of Flare could enable it to unlock new use cases for NFT and its holders. The State Connector protocol of Flare makes it possible to use off-chain information securely and scalable with smart contracts on Flare. It is also important to note that the Flare Time Series Oracle (FTSO) leverages the network structure to provide decentralized prices and data series to decentralized applications on Flare. Interestingly, this is done without relying on centralized data providers.

Hugo Philion, Flare CEO & Co-Founder commented on this:

We are very pleased that Sparkles has agreed to continue the development of the NFT platform 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, pushing the boundaries of NFT innovation on Flare, and supporting digital artists on their journeys.

Sparkles already achieves environmentally positive status

Sparkles has handled the most NFT transactions on Flare’s canary network since launch. The marketplace has facilitated over 90% of the transactions on Songbird. Since its launch, it has accounted for $3.5 million in value traded. As of now, it has approximately 3200 collections with 176 sales per day.

The platform has promised to become net zero by 2030. Interestingly, it has already achieved environmentally positive status through collaboration with the leading carbon goods fair SCB. The aim has been to estimate the carbon footprint and then buy carbon credits to neutralize the emission.

Mohamed Kanoun, Sparkle’s founder also commented on the platform:

Sparkles is honored to be the leader in 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 the Flare Network.

Last year, Flare announced a partnership with Metropolis World, a curated metaverse platform to allow smooth movement of users between different metaverse ecosystems and blockchains. Hugo Philion, CEO and co-founder of Flare, believes that interoperability is a new challenge not only for the blockchain, but also for the metaverse.

We share Metropolis’ vision for a seamlessly interconnected metaverse universe, and as their main interoperability partner, we will implement decentralized and secured LayerCake bridges to ensure safe transport for all user assets.

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The collaboration has had a minimal impact on FLARE (FLR) as the asset remains down 11 percent over the past seven days and is currently trading at $0.036297.

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