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Since its inception, Arbitrum has experienced notable NFT engagement on its platform, and a recent initiative by Rarible seeks to further bolster NFT activities within the network. This proposal suggests the integration of Arbitrum One with the open-source Rarible protocol, enabling developers to build NFT-centric applications on Arbitrum utilizing Rarible’s accessible SDK, indexer, and order book.
The proposal has received a positive reception, suggesting it is poised to gain substantial backing. At present, Arbitrum trails behind Optimism in terms of NFT asset and contract creation capabilities. Nevertheless, the collaboration with Rarible could assist in closing this gap and stimulate the expansion of the Arbitrum NFT ecosystem.
Currently, Arbitrum accommodates over 15.6 million NFT assets, with more than 16,000 added in the past 24 hours. In contrast, Optimism has a greater volume, exceeding 27.3 million NFT assets, having added over 131,000 assets in the last 24 hours. Optimism also surpasses Arbitrum in NFT contract deployment, with over 52,500 contracts compared to Arbitrum’s 18,500 contracts. Furthermore, Optimism has over 4 million wallet addresses, while Arbitrum has more than 2.5 million wallet addresses.
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Despite a recent downturn in NFT trading activity on Arbitrum, the network continues to maintain a relatively high transaction volume, with over 1 million transactions recorded.
The total value locked (TVL) on Arbitrum has seen a minor decline, dipping below the $2 billion mark to around $1.98 billion. However, the integration with Rarible and the overall advancement of the NFT ecosystem may potentially enhance TVL and overall activity on the platform in the future.
In summary, Rarible’s proposal presents a promising opportunity for the further development of the NFT ecosystem on Arbitrum and could attract additional users and developers to the platform.
The post Arbitrum: Could this NFT Proposal be a Game-changer for the Network? appeared first on BitcoinWorld.
