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YAHOO SPORTS - Rarible Bests OpenSea on Multi-Chain Support With Addition of Polygon NFTs

Non-fungible token (NFT) marketplace Rarible is tapping Polygon as its latest blockchain integration, joining Ethereum, Flow and Tezos as part of the platform’s vision for multi-chain commerce.

Non-fungible token (NFT) marketplace Rarible is tapping Polygon as its latest blockchain integration, joining Ethereum, Flow and Tezos as part of the platform’s vision for multi-chain commerce.

Market leader OpenSea supports Ethereum, Polygon and Klatyn. It added Polygon-based NFTs last October.

Rarible’s expansion to other chains has been at a steady clip since the site’s launch in early 2020, integrating with Flow last June and Tezos in December. Rarible also launched a messaging feature in November.

That hasn’t done much to boost sales volume, however, according to blockchain data compiled by DappRadar. OpenSea has seen $414 million in weekly sales over the most recent seven-day period; Rarible has only seen $383,000.

New wallet

As part of the announcement, Rarible said it will be launching its own multi-chain wallet, though no release date was provided. The platform is also adding capability for fee splitting and royalty standards for ERC-721 and ERC-1155 tokens minted on the site.

“[Rarible] understands the responsibility to democratize all aspects of NFTs for both creators and consumers,” Alexei Falin, CEO of Rarible, said in a press release. “A collaboration with Polygon is another achievement for Rarible Protocol that enables blossoming marketplaces and projects built within its ecosystem to access new communities and increase back-end capabilities.”

The company says it will also be tapping Polygon Studios, the blockchain’s NFT and gaming arm, for marketing and tech support as part of the partnership.

Polygon has been on a partnership tear of its own in recent months, most recently in the news for deals with sports betting site DraftKings and music NFT marketplace OneOf.

Polygon raised a $450 million funding round in February led by Sequoia Capital India.

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