Exchange.art, the popular Solana-based digital art marketplace, will soon take its platform multichain and integrate support for Ethereum.
The integration will go live August 1 with over 80 Ethereum-based artists, including Sotheby’s “Glitch Art” sales artist Patrick Amadon and creator Amber Vittoria.
According to data from analytics platform CryptoSlam!, Ethereum’s non-fungible token (NFT) trading volume ranks first with $10.2 million in the past 24 hours, while Solana trails in second place with just over $920,000. Larisa Barbu, COO of Exchange.art told CoinDesk that Exchange.art has always had a plan to go beyond Solana, engaging new creators and collectors in the process.
“Exchange.art’s vision is to be a hub for digital art and then slowly build out solutions for traditional art as well,” said Barbu. “So because that’s the vision, and that’s where we want to go… Being multichain is just sort of the next step in that direction.”
She also added that many artists struggle to sell their work across different ecosystems and marketplaces, and doing so on Exchange.art allows them to leverage the two largest NFT ecosystems in one place.
“[Artists] would really rather just maintain one platform and one community, rather than [always] juggling between two or three platforms, two or three communities, always updating information between the three, interacting with people on all of those platforms, and so on. said Barbara. “It was actually a decision we made because we had a demand for it, from an artist’s perspective — and it’s going to help a lot of artists.”
After its release in 2021, Exchange.art has attracted 16,000 artists from Solana, collectively earning $13 million in sales. With a mission to assist artists during a time of uncertainty surrounding royalty payments, Exchange.art introduced a royalty protection standard to help creators earn a consistent percentage across all marketplaces. In March, Exchange.art released Code Canvas, a derivative platform to help Solana-based creators curate generative art NFT collections.
Moreover, Exchange.art is not the first Solana-based NFT marketplace to introduce Ethereum. In August, Solana-based NFT marketplace Magic Eden integrated Ethereum to create its multi-chain ecosystem.