NFTrade integrates Gelato Relay for their innovative NFT order book
NFTrade is a decentralized and multi-chain NFT platform where users can create, buy, sell, swap, and farm NFTs.
The platform is launching NFTrade 2.0 on September 15th, and includes updates such as:
- New chains
- Advanced stats
- New UX/UI
- More epic new features, including an NFT order book that is pushing the boundaries of what is technically possible in Web3.
NFTrade aggregates the top NFT marketplaces such as OpenSea and SeaPorts and will allow its users to place limit buy orders for NFTs across all of these marketplaces. They’re using Gelato Relay to match orders and send requests to buy NFTs on behalf of their users- all in real-time!
We like to build most of our features in-house, but when we saw what Gelato Relay provides, we decided it was the right choice to move forward with this established solution. As a multi-chain platform, we are delighted that we were able to integrate Gelato Relay to get transactions validated and executed quickly, reliably. and securely.
Harrison Seletsky, NFTrade
How do buy orders work?
- A user can place an NFT buy order.
- NFTrade will scan different NFT marketplaces until it finds a matching listed sell price. The sell order is not placed on NFTrade, but rather sellers are found on numerous NFT marketplaces.
- Once the match is found, NFTrade executes the NFT purchase on the user’s behalf. The time it takes to get a match varies depending on the NFTs available on various marketplaces.
Step #3 is where Gelato Relay comes into play. Once it finds an NFT that matches the buy order, NFTrade sends a Relay request to buy the NFT on behalf of the user, and their smart contract pays Gelato back in real-time. To achieve this, they use the syncFee payment method (part of Gelato’s 1Balance payment option) that allows projects to settle payments across all blockchain networks supported by Gelato using just one balance on the chain of their choosing. This ensures a frictionless experience for NFTrade users, so they don’t have to worry about the complexities of transactions like this.
NFTrade has been consistently pushing the boundaries of what is possible in the NFT space to offer a robust and user-friendly NFT experience that has the potential to onboard the next 1B users to Web3. We are excited to work with their team to introduce the first multi-chan NFT order book, and we look forward to deepening the partnership to make NFTs more accessible and ready for mainstream adoption.
Hilmar Orth, Co-Founder & Legendary Member at Gelato
About NFTrade
NFTrade is a decentralized multi-chain and blockchain-agnostic NFT platform. NFTrade is an indexer of all NFTs across all of their integrated chains, hosting the complete NFT lifecycle and allowing anyone to seamlessly create, buy, sell, swap, farm, and leverage NFTs across different blockchains. Using NFTrade, anyone can gain access to the entirety of their NFT, unlocking the total value of the NFT market.
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About Gelato Network
Gelato Network is Web3’s automation network, enabling developers to automate & relay arbitrary smart contract executions on and across all EVM-based compatible blockchains. Gelato’s goal is to provide developers with a reliable, scalable & decentralized network to which they can outsource all of their Web3 related DevOps needs.
► Check out what we’ve been working on at https://gelato.network/
Learn more about payment options for Gelato, including 1Balance here.
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