Flare, the layer-1 Ethereum Virtual Machine (EVM) blockchain, went live on Jan. 10 after it launched two core protocols for decentralized interoperability applications.
The blockchain network allows developers to create applications that are interoperable between various blockchain ecosystems and internet platforms.Less than one month later, on March 2, Flare welcomed the nonfungible token (NFT) platform Sparkles on its layer 1 oracle network.According to the announcement a primary goal of the Sparkles NFT platform is to hone in on the interoperability of native Flare protocols to increase use cases for NFT utility.The NFT platform has plans to target other major issues in the space such as intellectual property (IP) rights via attaching on-chain IP licensing to future collections.
Sparkles also has plans of decentralizing its core technology and infrastructure after it transitions into a DAO.Since its launch on Songbird, the canary network for Flare, in Jan.
2022, Sparkles has handled 90% of NFT sales, which accounts for $3.5 million in sales. It currently hosts over 3,200 collections. Related: New oracle system to help DApps retrieve millions lost to MEV Additionally, in 2021 Sparkles joined the Crypto Climate Accord with a pledge to become net-zero by 2023.Read more on cointelegraph.com