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Rarible Bests OpenSea on Multi-Chain Support With Addition of Polygon NFTs
Polygon becomes Rarible’s fourth supported blockchain. OpenSea only sports three – but does 1,000 times the weekly sales volume.
By Eli Tan
Updated May 11, 2023, 5:59 p.m. Published Mar 17, 2022, 1:00 p.m.
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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.
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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.
Read more: Polygon Raises $450M From Sequoia Capital India, Galaxy, SoftBank to Support Web 3 Plans
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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