NFTrade Integrates Rarimo's Universal NFT Checkout Solution to Enable Purchases of NFTs with any Crypto on any Chain

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May 23, 2023, 09:00 ET

KYIV, Ukraine, May 23, 2023 /PRNewswire/ -- Multichain NFT marketplace, NFTrade has partnered with next-generation interoperability protocol Rarimo in a move to become the first marketplace to enable users to purchase NFTs with any cryptocurrency on any chain.

Empowered by Rarimo, NFTrade users are now able to make single-click, cross-chain purchases with Ethereum, Polygon, BNB Chain, and Avalanche. Over time, support for NFTrades' remaining chains: Immutable X; Skale; Palm; and Moonbeam will be added. Rarimo supports all token standards and will be able to cater to any additional chains NFTrade integrates.

Rarimo's NFT Checkout solution revolutionizes the multichain user-experience, allowing users to execute purchases—not only with a single click, but with a single fee and single signature.

Currently, users who hold crypto on one chain, but want to buy an NFT issued on another are confronted with a costly, slow, and extremely complex process. Users are forced to leave the marketplace and manually swap their crypto on an exchange. This entails navigating multiple interfaces, signing multiple transactions, and paying multiple fees.

In contrast to current solutions, Rarimo's NFT Checkout provides users with a seamless and cost-efficient, multi-chain experience.

After pressing the purchase button on their desired NFT, users are prompted to select the currency they'd like to pay with. They then make their selection, sign to authorize the payment, and the NFT checkout is complete. Gas fees can also be paid in the currency of the user's choice. Throughout the entire process, the user incurs only a single fee, a single signature, and a single click.

Behind the scenes, Rarimo sends the user's tokens to an external DEX and swaps them for the currency they'd like to pay with. Rarimo then sends this currency back to the marketplace smart contract to purchase the NFT, and the NFT is sent to the user's wallet. The entire process is decentralized and non-custodial. At no point are the tokens or the NFT held by a third party.

Rarimo makes the single-signature, single-fee process possible by bundling transactions behind the scenes. This allows multiple flows to be executed simultaneously.

"We are incredibly proud to partner with NFTrade to deliver the first truly multichain NFT Checkout where users can use any crypto on any chain to purchase NFT," said Lasha Antadze, Founder of one of Rarimo's service providers Rarify Labs. "The ability to seamlessly transfer digital assets and identities across chains is vital to the success of Web3. NFT checkouts are an essential part of this, but they are also just the start."

About Rarimo

Rarimo is an interoperability protocol for multi-chain identities, assets, and dApps.

They are providing the building blocks for interoperability across the web3 social layer. Rarimo enables Soulbound Tokens, NFTs, Credentials and other components of on and off-chain identity to seamlessly travel between chains.

NFT checkouts are just one of the many use cases for cross-chain digital asset transfers that Rarimo are pioneering. Developers can leverage Rarimo's unique architecture to bring single click, single fee solutions to an endless range of dApps and use cases.

They are maintained by the decentralized Rarimo Foundation. Rarify Labs is one of their service providers.

For more information please visit Website, Twitter, Lens and Discord. The Rarimo Testnet is currently accepting Developer Applications.

About NFTrade

NFTrade is a decentralized multi-chain and blockchain-agnostic NFT platform. They are an indexer of all NFTs across all of their integrated chains, hosting the complete NFT lifecycle and allowing anyone to seamlessly create, buy, sell, swap, farm, and leverage NFTs across different blockchains. Using NFTrade, anyone can gain access to the entirety of their NFT, unlocking the total value of the NFT market.

They are live on ETH, BNB Chain, Avalanche, Polygon, Immutable X, SKALE, PALM and Moonbeam.

For more information, please visit: Telegram, Website, Twitter, Medium, LinkedIn, Instagram, and Discord

SOURCE Rarimo