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Round-Up: Avalanche Announces New Wallet, Tech Blogger Says Rarible Will Add Solana Support

The Rarible NFT Market has been making headlines in recent days following a series of moves to consolidate the NFT market space. Rarible intends to become much more diverse with a multi-channel advantage over rivals like market leader OpenSea. A tech blogger this week shared information showing that the platform is exploring Solana support.

Elsewhere, smart contract blockchain Avalanche unveiled a wallet app dubbed Core at the Avalanche Summit in Barcelona this week.

Rarible NFT Market Protocol Would Add Solana Support

A screenshot share by tech blogger Jane Wong shows that the market is pushing to add Solana support. Wong wrote that Rarible had already configured the backend to support Solana integration.

This isn’t the first time Wong has shared evidence to reveal possible upcoming updates. In January and also earlier this month, she suggested that OpenSea was working on Solana support, claims that have yet to be verified with an official announcement.

A multi-channel adventure

A little over a month ago, the tech blogger noted that Rarible was working on a new profile feature that would allow users to have a single Rarible profile linked to their wallets in different channels. On the Multi-Channel Union profile, users would be limited to linking only their NFTs, likes, followings and followers.

Recent developments suggest that Rarible wants to dip its hand into every cookie jar in an attempt to gain an edge in the evolving NFT niche. The market currently supports minted NFTs on Polygon, Ethereum, Tezos, and Flow. Polygon is the latest name to join the list. This was the fourth chain backed by Rarible against OpenSea’s three – Ethereum, OpenSea, and Klatyn.

Touring Ethereum

Adding support for cheaper Ethereum alternatives, Polygon and possibly Solana is an attempt by Rarible to solve an inherent problem with the space – high gas fees.

As Rarible co-founder and CEO Alexei Falin said Decrypt last week, his company took responsibility for resolving issues with NFT typing/using, and some of the biggest ones are expensive fees and cross-channel restrictions.

However, even with all of this, Rarible still has a lot to do as its trading volume numbers are trailing. Newbie LooksRare tops the charts in terms of trading volume over the past 24 hours — $84.16 million, according to data provided by DappRadar.

NFT Markets 24 hour trading volume (DappRadar)

OpenSea is second with $80.55 million. Rarible recorded a volume of $45.01,000 over the same period.

Avalanche announces Core Wallet as new Web3 operating system

Avalanche chose to refine the experience for users who want a native Avalanche experience. Ava Labs product manager Nick Mussallem told attendees of the Avalanche Summit in Spain on Tuesday that the Avalanche platform plans to launch its native wallet app, Core.

The new wallet is designed as free and non-custodial, intended to provide users with a unique Avalanche experience. Avalanche said in the published blog post that although users previously interacted with the ecosystem through Ethereum-enabled wallets such as wallets, a lot has changed.

The channel is experiencing an increase in the number of “experienced userswho want a wallet optimized to match Avalanche’s speed and expanded functionality. In fact, with the increased emphasis on application-specific subnet technology, the need to build the core wallet has become overwhelming.

The announced launch will take place in two stages. The first will be a browser extension coming before the end of March. The second, which is scheduled for Q2, will be a mobile application for the wallet. Some of the Core Wallet features include an account selector, unified wallet and collectibles view, address book, and compatibility with major hardware wallets.

As a first among wallet extensions, Core will also integrate Avalanche’s bridging functionality. Avalanche Bridge, which has the highest TVL among Ethereum bridges, allows users with assets on Ethereum to engage with dApps on the Avalanche blockchain. The incorporation will eliminate the need to move assets onto Avalanche via an Ethereum-Avalanche bridge.

To learn more about Avalanche, visit our Investing in Avalanche guide.