NFTrade integrates Rarimo’s Universal NFT Checkout solution to enable the purchase of NFTs with any crypto on any chain
Kyiv, Ukraine, 23 May 2023 /PRNewswire/ — Multichain NFT marketplace, NFTrade has partnered with next-generation interoperability protocol Rarimo in a move to become the first marketplace to enable users to buy NFTs with any cryptocurrency on any chain.
Empowered by Rarimo, NFTrade users can now make one-click purchases across chains with Ethereum, Polygon, BNB Chain and Avalanche. Over time, support for NFTrades’ remaining chains: Immutable X; Scale; Palms; and Moonbeam will be added. Rarimo supports all token standards and will be able to accommodate any additional chains that NFTrade integrates.
Rarimo’s NFT Checkout solution revolutionizes the multi-chain user experience, allowing users to make purchases – not just with a single click, but with a single fee and a single signature.
Currently users who hold crypto on one chain, but wish to purchase an NFT issued on another, are confronted with an expensive, slow and extremely complex process. Users are forced to leave the marketplace and manually trade theirs crypto on exchange. This involves navigating multiple interfaces, signing multiple transactions and paying multiple fees.
Unlike today’s solutions, Rarimo’s NFT Checkout provides users with a seamless and cost-effective multi-chain experience.
After pressing the buy button on the desired NFT, users are prompted to select the currency they want to pay with. They then select, sign to approve the payment, and the NFT checkout is complete. Gas charges can also be paid in the currency of the user’s choice. Throughout the process, the user only incurs a single fee, a single signature and a single click.
Behind the scenes, Rarimo sends the user’s tokens to an external DEX and exchanges them for the currency they want to pay with. Rarimo then sends this currency back to the marketplace smart contract to purchase NFT, and the NFT is sent to the user’s wallet. The entire process is decentralized and non-custodial. At no time are tokens or NFTs held by a third party.
Rarimo makes the one-signature, one-fee process possible by aggregating transactions behind the scenes. This allows several flows to be executed at the same time.
“We are incredibly proud to partner with NFTrade to deliver the first true multichain NFT Checkout where users can use all crypto on any chain to buy NFT,” said Lasha Antadze, founder of one of Rarimo’s service providers Rarify Labs. “The ability to seamlessly transfer digital assets and identities across chains is critical to the success of Web3. NFT wallets are an important part of this, but they are also just the start.”
Rarimo is an interoperability protocol for multi-chain identities, assets and dApps.
They provide the building blocks for interoperability across web3 social layers. Rarimo enables Soulbound Tokens, NFTs, Credentials and other components of on-chain and off-chain identity to seamlessly travel between chains.
NFT wallets are just one of the many applications for cross-chain digital asset transfers that Rarimo is pioneering. Developers can take advantage of Rarimo’s unique architecture to bring single-click, single-fee solutions to an infinite variety of dApps and use cases.
They are maintained by the decentralized Rarimo Foundation. Rarify Labs is one of their service providers.
For more information, visit the website, Twitter, Lens and Discord. Rarimo Testnet is currently accepting developer applications.
NFTrade is a decentralized multi-chain and blockchain-agnostic NFT platform. They are an indexer of all NFTs across all their integrated chains and host the entire NFT lifecycle allowing anyone to seamlessly create, buy, sell, exchange, farm and leverage NFTs across different blockchains . By using NFTrade, anyone can access the entire NFT, unlocking the total value of the NFT market.
They live on ETHBNB Chain, Avalanche, Polygon, Immutable X, SCALE, PALM and Moonbeam.
For more information, please visit: Telegram, Website, TwitterMedium, LinkedIn, Instagram and Discord
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