What is Rarible (RARI)?
Rarible is one of the most popular cross-chain NFT marketplaces on Ethereum, Polygon, FLOW, Tezos, and Solana. The creator-centric platform strives to make the NFT space accessible for creators, artists, buyers, and aficionados.
Anyone can enter the marketplace, create and mint their own NFTs, and enlist it. The platform also offers multiple robust features, such as creating your own community marketplace on the Rarible protocol, leveraging the Rarible aggregator to trade NFTs from different marketplaces, and much more.
Rarible is also a blockchain protocol built over Ethereum to further support creators. It aims to be a full-fledged DAO that improves the marketplace experience for users, while also solving issues that creators or NFT owners might face. These include IP ownership, licensing, paperwork requirements, and more.
The RARI token is the native governance token for Rarible DAO. It provides creators, buyers, and sellers with the power to make decisions about the protocol and the marketplace. RARI also provides users with periodic rewards and perks from the platform. Overall, it acts as one of the significant pillars of the protocol and the platform, meant to facilitate the growth of its users. If you want to check the current RARI price, take a look at the Rarible price chart featured above.
Use Cases of RARI Crypto
The RARI token enables and empowers the users of the platform and the community to make decisions about the Rarible crypto project. These include:
- Curating artwork and determining which NFT assets are worth boosting for the audience and potential buyers.
- Moderating the creators on the platform and assuring that there are no fraudulent or other malicious activities.
- Determining the trading fees, features, and the level of decentralization of the DAO and the marketplace.
- Creating their own proposals on certain development aspects.
Tokenomics of RARI
The initial total supply of Rarible coins is 25 million. More than half of the supply (60%) is dedicated to the users of the Rarible NFT market. The remaining portion was set aside for the Rarible team, investors, and an airdrop.
The Rarible token was launched in July 2020, and, within the first two months, the RARI price went from about $0.4 to about $8.4. However, since the whole crypto market tends to get quite volatile, so does the value of RARI. You can check the current Rarible price on the aforementioned price chart.
Founders of Rarible
The founders of Rarible are Alexander Salnikov and Alexei Falin.
Falin is the CEO of Rarible. He has a degree in economics. In the past, Falin also co-founded Sticker.Place. Salnikov, on the other hand, is the Head of Product at Rarible. Before founding the NFT marketplace, Salnikov co-founded companies such as CoinOffering and Zenome. Besides, he was also the Chief Product Officer at Humaniq.
