the handwraps are initially for protecting your own hands/knuckles/wrists. incidentally, they offer a little more padding and might cushion a blow to your opponent. but not by much. a direct punch from a wrapped/mma-gloved hand is still going to hurt.
if you're looking for safety, combat sports offers a wonderful training glove that looks/feels like a mma glove, but the same protection and similar weight displacement as a 14oz glove.
i wouldn't suggest wrapping your hands for those gloves, because it can get clumsy and might tear the material. torn glove material= torn skin on your opponent.
i'm happy that you're considering your training partner's safety in choosing a style of glove.
When you spar safety should be your highest concern. You will need hand wraps (to protect your own hands), a mouth piece (protect your teeth), possibly head gear (for the head if you want to allow punches to the head), a groin cup(self explanatory)... Thats the minimum... you can also get shin gaurds to protect your shin.
If you do not use hand wraps the gloves you put on could scrape of the skin on your knuckles, due to friction when you punch. Its not a fatal injury but it takes its sweet time healing.... so yes... get your hand wraps
I punch a bag (harder than I would a sparring partner) pretty regularly with just the MMA gloves and with no damage to my knuckles due to abrasion with the glove itself. I think that might be due to a sizing issue with that particular glove. I can see that becoming an issue for an oversized glove. I suggest wrapping up your wrists at the very least if you're wearing fitted MMA gloves.
I've been focusing on the ground a lot lately, so I haven't been wrapping up before boxing. But I would suggest wrapping up if you're going to be striking a lot for your own longevity in your art. Sprained/compacted wrists are horrible for any MAist.
Maybe MMA gloves might not be the thing for the OP. Maybe a pair of Kenpo gloves?
Wraps protect your hands, not your opponent. Same thing for gloves, they save cuts and scratches, but they do a lot more to protect your hands then the other guy, without them you'd see a lot more broken hands and not be able to strike as hard to the head without risking injury.
wraps protect your hands but they compact your hands making it more damaging to your opponent than if your hands were not wrapped. but as others have said its important to wrap your hands if you want to avoid injury in the long run.