NFT Marketplace NFTrade Unveils Innovative Cross-Chain Purchase Feature
NFTrade claims that with its new feature, the company aims to enhance user experience and accessibility within the NFT ecosystem.
NFTrade, a leading non-fungible token (NFT) marketplace, introduces a groundbreaking feature that allows collectors to purchase on one network while using a different one for payment.
For instance, if a collector wishes to acquire an NFT on Avalanche, they can use tokens from Ethereum, Polygon, or BNB Chain for payment.
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Through the integration with Rarimo, the buyer’s tokens are automatically swapped on the sending chain, enabling seamless payment to the seller and the subsequent release of the NFT to the buyer. Importantly, this entire process is executed in a decentralized manner, ensuring the developer never takes custody of the buyer’s funds.
NFTrade customers can use Ethereum, Polygon, Avalanche, and BNB Chain to facilitate seamless transfers.
Additionally, NFTrade’s cross-chain purchase feature integrates with Circle’s Cross-Chain Transfer Protocol (CCTP). This integration enables buyers who prefer paying with USD Coin (USDC) to burn their tokens on one chain and have them re-minted on another, facilitating seamless cross-chain transactions.
On top of that, NFTrade plans to expand cross-chain purchases to include Immutable X, Skale, Palm, and Moonbeam in the future, further broadening the platform’s compatibility and accessibility.
It is worth noting that with the new integration, NFTrade aims to enhance user experience and accessibility within the NFT ecosystem.
Lasha Antadze, the founder of the service provider for Rarimo, Rarify Labs, emphasizes the significance of this feature in addressing user-experience challenges within the Web3 ecosystem. Antadze states:
The ability to seamlessly transfer digital assets and identities across chains is vital to the success of Web3. NFT checkouts are an essential part of this, but they are also just the start.
As the competition among NFT marketplaces intensifies, the new innovative features aim to provide a superior user experience and pave the way for the broader adoption of NFTs in the evolving Web3 landscape.