The Rarible team emphasized that blockchain technology has gained significant traction in the NFT market while explaining why the firm opted to utilize the Polygon ecosystem for the app.
As per Alexei Falin, co-founder and chief executive officer of Rarible, the Polygon NFT sector has gained “extraordinary momentum” in recent times. Furthermore addition, the team hopes that in the upcoming weeks, NFTs will indeed be able to be bought and sold on community marketplaces.
Falin stated, “We believe that social marketplaces are the game changer for buying and selling NFTs, and we believe that each initiative should have its own marketplace. Self-service tech is absolutely essential for this to occur.”
Along with offering NFT initiatives built on Polygon, Rarible also offers a marketplace developer for Ethereum ERC-721 and ERC-1155 collection tokens. Notwithstanding the sluggish market, NFT projects have produced innovative techniques for enhancing the sector. NFT index made accessible on January 11 a platform that measures the trading success of NFT collectors’ wallets.
The index evaluates wallets according to their realized and unrealized gains, as well as a variety of other factors. Other efforts are doing everything in their ability to overcome the cryptocurrency winter at the same moment as NFT initiatives are launching fresh tools or solutions. The NFT marketplace SuperRare just announced that it would be cutting off 30% of its workforce.
John Crain, the business’s chief executive officer, stated that the company “grew in tandem with the marketplace” and “overhired” when market conditions were good. Nevertheless, according to the CEO of the NFT trading platform, this cannot be sustained indefinitely.