SuperRare, the digital asset market platform created on the Ethereum ecosystem, has integrated Chainlink’s cross-chain interoperability protocol (CCIP) on its native token, $RARE, to support highly secure transfers across Ethereum and Base, a layer-two blockchain network operating on top of the Ethereum ecosystem. In this article, we shall assess in-depth what this new integration entails.
SuperRare Taps Chainlink To Support NFT Transfers
In an October 18 blog post, the SuperRare NFT market platform confirmed integrating the Chainlink network into its non-fungible token coin, $RARE. Under this integration, SuperRare anticipates leveraging Chainlink capabilities and functionality to offer secure transfers across Ethereum and Base, a layer-two blockchain network operating on top of the Ethereum ecosystem.
Launched in April 2018, SuperRare is a digital marketplace for aspiring digital artists and fine art collectors. It allows users to issue, collect, and trade rare NFTs on the Ethereum blockchain. On this platform, NFT artworks are minted directly by the original artist from their own unique wallet address, with every previous bid, sale, and collector forever recorded in the token’s history on the blockchain.
SuperRare NFT marketplace features $RARE, its governance crypto token. $RARE allows the community to have an active voice in curation via Space Races and in the broader decision-making process for the future of SuperRare. With $RARE, holders can participate in SuperRare governance via drafting and/or voting on proposals. SuperRare has grown to become one of the leading NFT marketplaces in the NFT market.
SuperRare And Chainlink Integration
Chainlink is a decentralized blockchain oracle network built on Ethereum’s main net. The network is intended to facilitate the transfer of tamper-proof data from off-chain sources to on-chain smart contracts. Chainlink connects the real world to burgeoning blockchain technology, enabling developers, startups, and enterprises to build tangible use cases that unlock real value in Web3.
Under the new integration, SuperRare anticipates leveraging Chainlink CCIPs to support secure transfers of its NFT coin $RARE across the Ethereum and Base blockchain networks. CCIP is a protocol that enables users to programmatically transfer tokens from one blockchain to another via lock-and-mint or burn-and-mint mechanisms and attach arbitrary data commands.
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