The Flare Network will now be hosting a new decentralised marketplace for NFTs called Sparkles. Sparkles is the largest NFT marketplace on Songbird and the goal is to expand its offering to users on the Flare network, which has been under development for multiple years. This shows that both Flare and Sparkles continue to think about their future and build new solutions to reach a larger number of users in the market.
Sparkles Goes Live on the Flare Network
The Flare Network will now see new users thanks to Sparkles launching its decentralized marketplace for non-fungible tokens on top of the Flare Network. This represents a unique opportunity for Flare Network to attract users and show that it can become one of the largest blockchain networks in the market.
Meanwhile, this represents a unique opportunity for Sparkles to become the largest NFT protocol and marketplace on top of this fast-growing blockchain network with its own consensus protocol. Let’s not forget that Sparkles is responsible for close to 90% of the total trading volume of NFTs on Songbird.
It is worth pointing out that the Flare is a blockchain network that offers users the possibility to release projects, decentralized solutions, and even NFT marketplaces, such as the one created by Sparkles. Moreover, Flare wants to expand its solutions to other blockchain networks, including Litecoin (LTC) and XRP, two of the largest cryptocurrencies in the world.
Sparkles is currently allowing users to buy and sell multiple NFT collections using Songbird, and now, Flare. They have become leaders in these two protocols and they could expand to new blockchains in the future as well.
The CEO and co-founder of Flare, Hugo Philion, commented:
“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.”
Furthermore, Flare became popular because it airdropped its digital currency to XRP users that held XRP in their wallets. Several exchanges have also participated in the airdropped and gave Flare coins to their users as well.
NFT Marketplaces and their Expansion
NFT marketplaces are online platforms that enable the buying, selling, and trading of non-fungible tokens. These marketplaces have gained immense popularity in recent years as NFTs have emerged as a new form of digital asset.
One of the key benefits of NFT marketplaces is their ability to provide greater visibility and exposure for content creators. NFT marketplaces offer a more democratic platform where creators can showcase their work to a global audience and receive direct payments for their creations.
Additionally, NFTs can provide a new revenue stream for artists and other creators, who can receive royalties each time their NFT is resold on the marketplace. As the popularity of NFTs continues to grow, NFT marketplaces are likely to play an increasingly important role in these markets.
Flare is playing a key role in the NFT market thanks to the new decision taken by Sparkles. In the future, there will be new possibilities offered by Flare to NFT users. New decentralized applications could be released in the future and Flare could become an even larger blockchain network in the cryptocurrency market.