What is Rarible (RARI)?

Rarible functions as an NFT marketplace and issuance platform with a strong emphasis on supporting creators. It operates through the utilization of the RARI token, which plays a vital role in empowering users who engage with the protocol.

Rarible's platform enables users to seamlessly generate non-fungible tokens (NFTs) to represent distinct digital items, including artworks and game assets. Within the marketplace, a comprehensive range of categories is available for sorting and filtering, enhancing the user experience.

The creation and listing of NFTs on Rarible are accessible to all users. The RARI token holds a central position within the platform's ecosystem, serving both as a reward mechanism for active participants and as a means for engaging in protocol governance.

Who are the founders of Rarible?

In the early months of 2020, the Rarible team was established in the United States by co-founders Alexei Falin and Alexander Salnikov.

Alexei Falin, who holds the role of Rarible's CEO, is also renowned for co-founding Sticker. Place, a software firm specializing in stickers. Falin completed his education at both the University of Southern California and the Higher School of Economics in Moscow.

Alexander Salnikov, a co-founder of Zenome and previously the ICO Director at Humaniq, a blockchain initiative for the unbanked, boasts a history of launching over five successful companies. With substantial experience as a product manager, Salnikov presently serves as Rarible's head of product.

What makes Rarible unique?

Rarible has a broader vision beyond serving solely as a digital collectibles and art marketplace, leveraging blockchain technology. The platform offers a user-friendly process for generating or "minting" NFTs, making it accessible even to individuals with minimal NFT experience.

This approach empowers artists and creators to produce and vend their digital goods without encountering hurdles, all the while benefiting from the security ensured by blockchain technology.

The Rarible ecosystem, comprising both the platform and protocol, operates autonomously and is overseen by holders of RARI tokens. These token holders are responsible for voting on matters related to governance. Over time, Rarible envisions transitioning into a fully decentralized autonomous organization (DAO) structure.

Although the NFT landscape is still relatively young, Rarible has ambitions to allocate a portion of its revenue to subsidize users' initial mint transactions (NFT creation transactions). This forms part of the platform's strategies to foster its growth.

By offering an alternative to the challenges of the intellectual property market, such as complex licensing and paperwork requirements, the Rarible protocol addresses these limitations. NFTs present a user-friendly alternative, requiring only a few clicks to access.

Explain the network security of Rarible.

Rarible operates as a platform integrated within the Ethereum network. The platform's native governance token, RARI, adheres to the ERC-20 token standard. Meanwhile, the tokens generated through Rarible employ the ERC-721 non-fungible standard, with the security provided by the Rarible protocol.

Both ERC-20 and ERC-721 tokens are transacted and secured within the Ethereum mainnet. This blockchain operates as a proof-of-work (POW) system, soon to transition into a proof-of-stake (POS) model. Ethereum relies on a decentralized network of nodes and miners to ensure the security of transactions.

The inherent transparency of the Ethereum blockchain lends itself to certifying and validating the uniqueness of NFTs traded on the Rarible marketplace. This assurance guarantees both creators and collectors that their tokens possess genuine rarity.

What are the recent developments of Rarible? 

Animoca Brands' Mocaverse, a membership-based NFT collection, has joined forces with Rarible, a platform for NFT creators and brands, to introduce the Mocaverse Marketplace. This marketplace aims to provide a secure and dedicated space for the Mocaverse community to trade NFTs with verified authenticity. The marketplace addresses concerns related to safety on third-party platforms, offering zero platform fees on native Mocaverse collection listings and respecting royalties on sales. The Mocaverse Marketplace integrates features unique to the Mocaverse collection, including the use of Moca XP points for filtering and support for several ERC-20 tokens. Powered by Rarible Protocol, the marketplace fosters a seamless Mocaverse experience while contributing to community engagement in the Web3 space.

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