Rarify, an API-based NFT infrastructure provider, which makes it easy for firms to introduce NFTs natively into their platforms, revealed a strategic partnership with BitGo on July 8, 2022. The partnership with BitGo, a leading digital asset custody solutions provider, will see BitGo’s 700 institutional clients receive access to valuable NFT analytics. This data will be delivered by leveraging Rarify’s Data API solutions.
How the Partnership Will Work
By using Rarify’s Data API, developers and investors will gain access to accurate data on the pricing history of any NFTs, their provenance, trading performance, volume, and authenticity across the Ethereum and Polygon protocols.
Rarify’s Data API sources data from various marketplaces and DEXs. It then aggregates the metadata for various tokens across different standards and converts it into actionable insight for NFT traders. As a result, they can make informed decisions on their investments.
What the Leadership Team Had to Say
According to Joe Kinney, the production manager of BitGo, it was essential to strengthen the offering of the BitGo wallet with metadata and insights for NFTs. Kinney added that Rarify provided holistic indexing of the leading NFT marketplaces. According to him, the partnership would allow BitGo to provide its clients with secure and robust NFT solutions.
Discussing the partnership, the Rarify co-founder, Lasha Antadze, said that the company understands getting NFT data is the foundation for anyone trying to build in Web3. He noted that without the data point, it would be challenging to make important decisions such as appraisals, and investments. According to Antadex, their Data API enabled developers to build with ease, while empowering users to make the right decisions. Antadex concluded by saying, “We are honored to work with the BitGo team and help them provide unique NFT analytical insight to their clients.”
About Rarify’s API Solutions
Rarify’s API solutions are designed to lower the entry barrier into the NFT space. They are designed to empower companies to fully partake in the new digital economy. Their API solutions are designed to improve market intelligence, allowing businesses and traders to gain better insight into the historical performance of NFT collection, and individual items.
Leading investors including Eniac Ventures, Circle, Greycroft, and many others back the company. It has emerged as an important player in the development of the Web3 future by eliminating technical barriers to building with NFTs. It delivers innovative NFT infrastructure solutions that enable the management and scaling of blockchain agnostic NFT products.
Why the BitGo Partnership Matters
BitGo was the first digital asset company to focus exclusively on institutional clients in the blockchain, and crypto space. Since its founding in 2013, it has remained true to this model. It offers various institutional-grade solutions for crypto custody, liquidity, and security. It operates in both the centralized and decentralized financial spaces, allowing it to offer market-leading solutions for lending, trading, and borrowing. BitGo is also the custodian for WBTC, the leading global Bitcoin stablecoin.
The reason why the BitGo partnership with Rarify matters is that it will provide an easy means for institutional investors to enter the NFT space. With proper insight and analytical tools, it could lead to an explosion of institutional investors in the nascent NFT space.
