NFT
Image: Flare Network
- Sparkles NFT marketplace joins Flare network mainnet.
- This follows a year of testing on Songbird, the test network of Flare.
- Sparkles became the largest NFT marketplace in NFT sales on Songbird, contributing to 90% of sales.
Sparkles, a decentralized NFT marketplace, has launched on the Flare network, opening up its non-fungible token (NFT) market to willing participants across the blockchain space. Sparkles launched in January 2022 on the Songbird network, the test network of Flare, gaining traffic and building a community during the past year. The platform currently handles over 90% of all NFT sales on Songbird and has become the first NFT marketplace to launch on Flare’s Layer 1 network.
“Sparkles is honoured to be leading the way when it comes to NFTs on Flare, Mohamed Kanoun, Sparkles Founder said. “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.”
The launch will enhance Sparkle’s utility of Flare’s interoperability features and protocols enabling new use cases for NFT holders and these digital assets. Flare is a layer 1 decentralized oracle that gives developers decentralized access to high-integrity and trustless data from other blockchains and external sources. The network consists of two main protocols, the Flare State Connector and the Flare Time Series Oracle (FTSO), which combine to relay trustless and secure information to smart contracts on Flare.
Sparkles will benefit from this decentralized oracle, as it sources secure, scalable, and trustless data from the State Connector and relays it to DApps on its platform. The Flare Time Series Oracle (FTSO) utilizes the network structure to deliver highly decentralized prices and data series to DApps on Flare without relying on centralized data providers.
“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,” Hugo Philion, Flare CEO & Co-founder said.
Launched in 2022, Sparkles is already a world-beater in the NFT space on Flare, having handled over 90% of NFT sales on Songbird, translating to $3.5 million in value traded since launch. Currently, the NFT marketplace has over 3,200 creators and collections, averaging nearly 200 NFT sales every day.
Apart from its NFT collections, Sparkles is also known for its environmental-friendly platform. Having joined the Crypto Climate Accord in 2021, Sparkles pledged to achieve carbon net-zero emissions by 2030. So far, the platform is already exceeding its goals, being the only NFT marketplace to achieve an environmentally positive status. The community works with SCB, a leading carbon commodity firm, to estimate the platform’s carbon footprint and then purchase carbon credits to offset the emissions.
Additionally, the launch of Sparkles on Flare also addresses the issue of intellectual property rights (IP) for NFT owners and creatives, starting with the upcoming Defenders of the MetaSpark (DOTM) collection.
In the near future, Sparkles is also planning on launching a DAO, to decentralize the governance and infrastructure of its platform using the $SNFT token.
“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,” Philion concluded.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
