NFTrade Partners With Rarimo to Offer Multi-Chain Payments

On Tuesday, the non-fungible token marketplace NFTrade and cross-chain protocol Rarimo announced a partnership allowing customers to make multi-chain payments. According to the announcement thread, users will be able to purchase NFTs across Ethereum, Polygon, Avalanche, and the BNB Chain.

Rarimo and NFTrade Hope to Enable Users to Purchase NFTs Across All Chains

According to a Twitter thread posted on May 23rd, Rarimo, a cross-chain messaging protocol partnered with NFTrade, a non-fungible token marketplace. The partnership aims to enable users to purchase NFTs on any blockchain using any cryptocurrency.

In the current phase, the offering connects and enables payments across Ethereum, Avalanche, BNB chain, and Avalanche. Similarly, the selection of usable tokens is also limited to AVAX, BNB, MATIC, ETH, and USDC.

Both companies promised that more updates and expansion to additional chains will be arriving soon. In its blog post on the development, NFTrade described the partnership as “a giant leap towards continuing to create a truly user-centric marketplace.”

Is Multi-Chain Functionality the New Standard For NFT Marketplaces?

Recent months have seen an upsurge in multi-chain functionality on various NFT marketplaces. The development was precipitated by the growing popularity of non-fungible tokens as well as by the fact that they became spread across hundreds of marketplaces and numerous blockchains.

The trend has been most noticeable with the rise of NFT aggregators whose trading volume has, by the end of 2022, surpassed $1.9 billion. So far, Blur has perhaps had the most staggering rise in popularity as it managed to come to rival OpenSea, one of the largest non-fungible token marketplaces, mere months after being launched.

Magic Eden is another NFT platform that has been aggressively pursuing a multi-chain expansion. Within a single month this year, it announced it has expanded both to Ethereum and Bitcoin.

This article originally appeared on The Tokenist

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.