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What Is Rarible (RARI)?
Rarible is a platform based on non-fungible tokens (NFTs) that allows users to easily create, sell, and buy digital art. Artists can use Rarible to mint their artwork as NFTs, which are unique crypto assets that serve as proof of ownership of a digital item. Collectors can then purchase these NFTs and hold them as investments or simply enjoy them as digital art.
How Does Rarible Work?
Rarible uses two main NFT token standards: ERC-721 and ERC-1155. ERC-721 allows for the creation of one-of-a-kind NFTs, while ERC-1155 allows for the creation of multiple editions of an NFT. This means that artists can choose to sell their artwork as a single, unique piece or as a limited edition.
To create an NFT on Rarible, artists simply need to upload their artwork and set a price. Once the NFT is minted, it can be listed on the Rarible marketplace for anyone to purchase. Collectors can browse the marketplace and purchase NFTs using ETH, the native cryptocurrency of the Ethereum blockchain.
What Makes Rarible Unique?
There are a few things that make Rarible unique in the world of NFT marketplaces. First, Rarible is completely open and permissionless. This means that anyone can create an account and start selling NFTs, without having to go through any approval process. Second, Rarible offers a variety of different ways to buy and sell NFTs. In addition to traditional auctions, Rarible also supports fixed-price listings and “make an offer” functionality. Finally, Rarible has a strong community of artists and collectors. This community is one of the things that makes Rarible such a vibrant and exciting place to buy and sell NFTs.
Rarible Coin (RARI)
Rarible also has its own governance token, RARI. RARI token holders can vote on proposals that will shape the future of the Rarible platform. For example, RARI token holders can vote on whether or not to add new features to the platform, or whether or not to change the fees that are charged for using the platform.
The Future of Rarible
Rarible is still a relatively young platform, but it has already made a big splash in the world of NFTs. With its open and permissionless approach, its diverse selection of NFTs, and its strong community, Rarible is well-positioned to continue growing in the years to come. As the NFT market continues to mature, Rarible is likely to play a leading role in making digital art more accessible to everyone.