Cross-Chain is here! Purchase Any NFT on Any Chain Using Any Token on NFTrade
The world of non-fungible tokens (NFTs) continues to evolve, and NFTrade is at the forefront of this revolution. NFTrade has partnered with Rarimo, a next-generation interoperability protocol, to launch a groundbreaking feature that will revolutionize how users purchase NFTs. By integrating Rarimo’s innovative NFT Checkout solution, NFTrade becomes the first marketplace to enable users to purchase NFTs with any cryptocurrency on any chain, offering a seamless and cost-efficient cross-chain experience.
Traditionally, purchasing an NFT created on a different blockchain from the one where users hold their cryptocurrencies has been a complex and cumbersome process. It often involves leaving the marketplace, manually swapping crypto on an exchange, navigating multiple interfaces, signing multiple transactions, bridging assets and paying multiple fees. This inefficiency limits the accessibility and usability of the NFT market.
NFTrade eliminates these barriers and streamlines the process. With a single click, users can now make cross-chain purchases between Ethereum, Polygon, BNB Chain, and Avalanche. Moreover, NFTrade plans to expand support to all supported chains, including Immutable X, SKALE, Palm, and Moonbeam, further enhancing the platform’s interoperability.
Rarimo’s NFT Checkout solution provides a user-friendly and efficient experience for cross-chain NFT purchases. It enables users to select their preferred currency for payment, sign the transaction to authorize the payment and complete the checkout process seamlessly. Notably, users can pay gas fees in the currency of their choice, providing flexibility and convenience.
Behind the scenes, Rarimo facilitates the transaction by sending the user’s tokens to an external decentralized exchange (DEX) and swapping them for the desired payment currency. The purchased currency is then sent back to the NFTrade marketplace smart contract to complete the NFT purchase. Throughout this process, users enjoy the benefits of decentralization and maintain full control over their tokens and NFTs. Rarimo’s technology ensures that tokens and NFTs are never held by a third party.
Currently, cross-chain transactions can be done only with a limited number of supported tokens (AVAX, BNB, MATIC, ETH, USDC), and we will be expanding the list of the supported tokens as traction to this feature grows.
With the integration of Rarimo’s NFT Checkout solution, we have taken a giant leap towards continuing to create a truly user-centric marketplace. By enabling cross-chain NFT purchases with any cryptocurrency, NFTrade is empowering users to explore a broader range of NFTs without the hassle of complicated and expensive transactions. The partnership between NFTrade and Rarimo marks a significant milestone in the NFT space, setting new standards for accessibility, convenience, and cost-efficiency. As NFTrade continues to expand its support for additional chains, the future of multi-chain NFT purchasing looks brighter than ever before.