Hassan Maishera
Sparkles, an NFT marketplace that handles over 90% of NFT sales on Songbird, announced on Thursday, March 2nd, that it had launched its NFT platform on Flare.
In a press release shared with Cryptowisser, Sparkles said it is the first NFT platform on the new layer-1 oracle network.
The team pointed out that they intend to use Flare’s native interoperability protocols to enable new use cases for NFTs and their holders. Flare’s State Connector protocol enables off-chain information to be used securely, scalably and trustlessly with smart contracts on Flare.
They further added that the Flare Time Series Oracle (FTSO) uses the network structure to deliver highly decentralized prices and data series to dapps on Flare without relying on centralized data providers. Sparkles 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.
Sparkles has been around for more than a year after it launched on Songbird in January last year. Since its launch, Sparkes has handled the most NFT transactions on Flare’s canary network.
Sparkles has so far handled over 90% of NFT sales on Songbird, with Sparkles accounting for over $3.5M in value traded since the launch. At the moment, Sparkles hosts over 3,200 collections and averages 176 sales per day.
While commenting on this latest development, Hugo Philion, Flare CEO & Co-founder, said;
“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.”
Mohamed Kanoun, Sparkles Founder, added that;
“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. ”
Sparkes became a member of the Crypto Climate Accord in 2021 after pledging to become net-zero by 2030. The team didn’t have to wait that long to achieve that goal as they have reached an environmentally positive status by working with SCB, a leading carbon commodity firm, to estimate the platform's carbon footprint and then purchase carbon credits to offset the emissions. Sparkles used Toucan's bridge to retire the credits on-chain.
The Sparkles team added that they would be decentralizing their major technology and infrastructure when they transition into a DAO with the launch of the SNFT token.
Flare is an EVM-based Layer-1 blockchain that gives developers decentralized access to high-integrity data from other chains and the internet. This enables new use cases and monetization models while allowing apps to serve multiple chains through a single deployment.
Meanwhile, Sparkles is the largest open NFT marketplace on the Flare and Songbird Network.
