Sparkles launches first NFT platform on Flare

Sparkles, an NFT marketplace that handles over 90% of NFT sales on Songbird, has launched on Flare, becoming the first NFT platform on the new layer 1 oracle network.

Sparkles is the only NFT marketplace in the blockchain space to achieve an environmentally positive status. Sparkles is also addressing the issue of NFT intellectual property (IP) rights for NFT owners in their upcoming DOTM collection, by attaching on-chain IP licensing. 

Sparkles plans on utilizing Flare’s native interoperability protocols to enable new use cases for NFTs and their holders. Flare’s State Connector protocol enables off-chain information to be used securely, scalably and trustlessly with smart contracts on Flare. The Flare Time Series Oracle (FTSO) utilizes the network structure to deliver highly decentralized prices and data series to dapps on Flare without relying on centralized data providers. Sparkles APIs are integrated into Bifrost Wallet, the most widely used wallet on Flare, and D’Cent wallet, so users can manage their NFTs directly in-wallet.

Sparkles launched on Songbird in January 2022 and has since handled the most NFT transactions on Flare’s canary network. The NFT marketplace has handled over 90% of NFT sales on Songbird with Sparkles accounting for over $3.5M in value traded since the launch. Sparkles hosts over 3,200 collections and averages 176 sales per day.

Sparkles joined the Crypto Climate Accord in 2021 by pledging to become net-zero by 2030. The team at Sparkles has already surpassed this pledge, achieving environmentally positive status by working with SCB, a leading carbon commodity firm, to estimate the platform’s carbon footprint then purchase carbon credits to offset the emissions. Sparkles used Toucan’s bridge to retire the credits on chain. 

Hugo Philion, Flare CEO & Co-founder said, “We are very pleased Sparkles have agreed to continue their NFT platform development on Flare, integrating our core protocols to champion NFTs and provide opportunities for SGB and FLR holders to participate in the digital art space. We look forward to seeing Sparkles become a community-owned platform, push the boundaries of NFT innovation on Flare and support digital artists on their journeys.”

Mohamed Kanoun, Sparkles Founder said, “Sparkles is honored to be leading the way when it comes to NFTs on Flare. We believe Flare will be home to many new artists, brands, companies, games, metaverses and much more. The future is bright for NFTs on Flare Network. ” 

Sparkles will be decentralizing its core technology and infrastructure when it transitions into a DAO with the launch of the SNFT token. Having an NFT protocol which is completely decentralized, as outlined within the recently released Sparkles whitepaper, and run by the community for the community, perfectly aligns with Flare’s core mission to connect everything.