Rarible is a platform that allows users to create, sell, and buy Nonfungible tokens (NFT). RARI is governance token of Rarible. Users can earn these tokens from various activities on the platform such as buying / selling artwork or collectibles (or Marketplace Liuidity Mining).
The RARI token gives holders the right to decide on system updates on Rarible and to manage what content is marketed on the platform.
A few outstanding features help you to better understand the project and the token will learn. Along Blogtienao learn about Rarible (RARI) offline.
Rarible (RARI) price, marketcap, chart, and fundamentals info
Rarible is a decentralized application based on Ethereum (dapp) focused on creating a marketplace for the NFT. It also allows a feature for users to create their own NFT, which means encrypting their collections.
One notable feature of the platform, which has also caught the attention of many, is its admin setup. Through the RARI token, users can participate in protocol governance decisions through a voting mechanism. This is what is mentioned by Rarible implementing a decentralized autonomous organization (DAO).
Such a feature doesn't exist in most of the NFT markets in the crypto space. Quite special, right?
Rarible was founded by Alex Salnikov and Alexei Falin in early 2020. Their vision is to create a successful blockchain application with a focus on helping artists and owners of collections.
The research team behind Rarible has launched a blockchain-based online marketplace where artists can find potential buyers for their content.
According to Salnikov, the community's involvement in decision-making for the platform can be of great help for further development. The fee for the platform is an example of a community concern that Salnikov believes can be discussed, hence, their decision to implement governance token for the platform.
The above features have brought Rarible the attention of decentralized financial platforms (DeFi) received by mid-2020.
How does Rarible use NFT?
Anyone can create an NFT. An artist can easily access the platform and create digital counterpart. Whether they want to sell the NFT or not is up to them.
Transaction fees for purchasing a particular artwork can also be determined by NFT holders. Through the tranfer token feature, a collectible item can be conveniently given to someone else as a gift by simply sending the NFT to the intended recipient.
If the artwork owners decide that they want to remove their work from the platform, they are free to do so. By burning the NFT, artwork can be deleted from the blockchain. Finally, all functions related to ownership of a collection are completely under the control of the NFT owner.
This platform also implements a "royalty system". Works similar to the traditional reward mechanism for original authors of artwork. Through this system, creators are entitled to a certain percentage (%) of the selling price of the artwork if the work is sold to others.
If a user finds that some art works or collectibles have been counterfeited, they are also free to report them through the platform.
What is RARI token?
RARI is the governance token of the Rarible ecosystem. RARI allows the most active creators and collectors on Rarible to vote on any platform upgrade as well as participate in management and moderation.
RARI token basic information
|Token type||Governance token|
|Total Supply||25,000,000 RARI|
|Circulating supply||2,000,000 RARI|
RARI token allocation
Rarible release schedule (RARI)
- Marketplace liquidity mining started July 15, 07
- Every Sunday, 75.000 tokens are distributed to partners who have made purchases on Rarible for the week
- The release takes place every Sunday starting July 19, 07 and lasts for 2020 weeks
- Both buyer and seller receive 50% of the amount distributed.
- July 15, 07, active Rarible users will receive 2020% of total supply RARI according to Liquidity mining principle: Based on volume previously on Rarible market. Both buyers and sellers will receive 2%.
- Before July 20, 07, NFT holder / buyer is credited. During this period, 2020% will be distributed to the Et addresses of all NFTs whose sales are recorded on Dune Analytics.
- The remaining NFT holders, to be announced later. Rarible believes that Dune Analytics may not hold all of the data. They introduced a third stage for editing.
What are RARI tokens for?
Vote on a system upgrade
An important part of token ownership is having influence on the platform's development. RARI's owners can submit and vote on proposals on:
- Rarible's transaction fees
- New features of Rarible will be developed or deployed by the project team
- Use RARI to further decentralize the governance and development of Rarible
Moderated creators on the platform
Team Rarible is considering implementing a system similar to Aragon Court or joining a partnership to solve the problem of establishing community-based censorship.
Management of outstanding artwork
The community can vote on which artwork is a weekly selection, helping them increase the reach they need.
Rarible ant (RARI) like?
The easiest way is to register an account and buy RARI tokens on listed exchanges like: MXC, ... Or if you want to buy on Uniswap, read the following:
Brothers cannot buy RARI on the Rarible platform. At that time, it can only be earned by actively participating in the platform, also known as the Marketplace Liquidity Mining.
RARI secure wallet
On which exchange are RARI tokens traded?
In addition to the big exchange like MXC or Uniswap mentioned, the exchanges also listed RARI are: HOO, Sushiswap, ...
The ultimate goal of the project is development towards a Decentralized Autonomous Organization (DAO). Where all the decisions are made will be with the platform users.
RARI token, awarded to active users of the platform. Will act as an admin tool: It will allow collectors and creators to vote on multiple upgrades and decide how the platform will evolve. This makes platform management responsive directly to the most active users. Bringing Rarible closer to being run by community members.
Rarible's Potential Assessment (RARI)
As such, it is clear that Rarible offers quite a lot of potential. Not only does it bring an arguably unique set of features to the market, but it is also an interesting foundation in the rapidly growing NFT market. Furthermore, for the NFT market to continue to grow, market solutions such as Rarible are essential.
In addition, Rarible can also provide a community governance issue. The RARI Governance token is also historic, as it is the first governance token of the NFT sector.
The Future of Rarible (RARI)
Team Rarible is working on a host of exciting new features, and the project wants its community to participate in their rollout prioritization.
- NFT market index
For collectors who want to invest in the NFT market but are not sure which artwork to choose, Rarible offers an opportunity to invest in the NFT index - a portfolio of the most promising NFTs.
- Price discovery mechanism
- Mobile App
- Social Feature
- More content types (AR + VR + Metaverse + 3D)
- DeFi NFT
- Fractional Ownership
Should you invest in RARI?
Rarible also received many compliments for its relatively simple and intuitive user interface. Users describe the process of connecting wallets on the Rarible platform (which supports MetaMask, Wallet-Connect, Fortmatic and WalletLink) easily.
Some reviews commented by Blogtienao hope to contribute a small part in the investment decision of the brothers. Or take responsibility for the money you have. Thanks!