Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

NFT marketplace enables cross-chain purchases on multiple networks

Published 05/23/2023, 02:00 PM
Updated 05/23/2023, 03:40 PM

A new feature on nonfungible token marketplace NFTrade allows collectors to purchase items on one network while paying on a separate one. The feature was created through an integration with cross-chain messaging protocol Rarimo, according to a May 23 announcement.

The cross-chain purchases with NFTrade work on Ethereum, Polygon, Avalanche and BNB Chain. For example, if users want to buy an item on Avalanche, they can pay with a currency from any of the other three networks. The protocol will automatically swap the buyer’s tokens on the sending chain for the token the seller wants on the receiving chain, allowing it to then pay the seller and release the NFT to the buyer. This entire process is done in a decentralized way, and at no point does the developer take custody of the buyer’s funds, the announcement stated.

Continue Reading on Coin Telegraph

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.