Are you interested in earning money through non-fungible tokens (NFTs)? Rarible is a blockchain-based marketplace that allows users to create, sell, and buy digital assets on Ethereum using smart contracts.
In this article, we will explore the history, platform features, governance token, and accessibility of Rarible. Overview of Rarible:
Rarible is a decentralized platform built on Ethereum’s ERC-721 and ERC-1155 standards.
It allows users to buy and sell NFTs such as artwork, music, games, and videos. NFTs are unique digital assets that cannot be replaced, and Rarible is one of the few platforms that enables users to create their NFTs. Rarible has a user-friendly interface that allows anyone to create and manage their digital assets without the need for advanced technical skills.
Rarible is an open-marketplace, meaning anyone can sell their NFTs without approval by the platform. Anyone can also buy NFTs on Rarible from other users.
Transactions are powered by Ethereum, so users need to have an Ethereum wallet to make transactions on the platform. Onra ramps are available to new users who don’t have an Ethereum wallet, making the platform more accessible.
Governance Token:
RARI is the official governance token of Rarible. RARI gives voting power to community members, including token holders and active users.
In 2020, CoinFund funded Rarible’s first funding round with $1.75 million in financing. The funding will be used to develop features that improve the market’s functionality and scalability.
Rarible is led by Alexander Salnikov, Alexei Falin, and Ilya Komolkin, who have backgrounds in the crypto industry. Accessibility:
Rarible is accessible through its website, iPhone app, and Android app.
Users can also access the platform through popular Ethereum wallets such as MetaMask and Argent. The iOS and Android apps make NFT trading more convenient and are available in several countries.
Company History:
Rarible was founded in January 2020 by Alexander Salnikov, Alexei Falin, and Ilya Komolkin. Karan Singh and his team developed Rarible but soon left the project due to fraud issues.
During this time, users were experiencing problems with fake NFTs, making it difficult for the platform to gain traction. However, the current team’s efforts and cooperation with the community made it possible to solve these issues and improve the platform.
Conclusion:
Rarible is an innovative marketplace for NFTs that has gained popularity in recent years. The accessibility, governance token, and platform features make Rarible an excellent option for creators and collectors of digital assets.
Although there have been challenges in the past, the platform has made substantial progress and continues to improve its services. Rarible is definitely worth checking out if you want to buy or sell NFTs.
Rarible has gained significant attention from the NFT community due to its user-friendly platform, governance token, and innovative revenue model.
In this article, we will explore the company’s revenue model, multi-chain strategy, adoption, and trust. Furthermore, we will delve into the company’s funding rounds, notable investors, and sales and revenue estimation.
Revenue Model:
Rarible earns its revenue by charging a 2.5 percent fee on each transaction made on its platform. The fee applies to both buyers and sellers and is used to cover gas fees, which is the cost of running smart contracts on Ethereum’s blockchain.
Rarible’s revenue model is transparent and straightforward, making it a convenient option for NFT creators and collectors. Multi-Chain Strategy:
Rarible’s multi-chain strategy aims to expand its services to different blockchains, including Flow and Tezos.
Rarible Protocol, an open-source API, allows developers to build applications and NFT markets on different chains. The protocol connects different blockchains to create a unified ecosystem for NFTs. By expanding to different chains, Rarible aims to reduce gas fees and provide users with more options to buy and sell their NFTs. This strategy has allowed Rarible to become a market leader in the NFT industry, with a significant advantage over its competitors.
Adoption and Trust:
Rarible’s governance token, RARI, has been a significant factor in the platform’s adoption and trust. Token holders have voting power that allows them to make significant decisions about the platform’s development.
Additionally, all sellers on Rarible must go through a verification process to ensure that their NFTs are original and not fraudulent. This process provides users with a sense of safety, knowing that the NFTs they’re buying or selling are legitimate.
Well-known companies like Adobe have chosen Rarible to manage their Content Credentials, further increasing adoption and trust in the platform. Funding, Revenue & Valuation:
According to Crunchbase records, Rarible has raised $22.4 million in funding to date.
The funding includes a $1.75 million seed round and a $14.2 million Series A funding round in May 2021. Notable investors include CoinFund, 01 Advisors, and Coinbase Ventures.
Rarible’s recent Series A funding round comes with a significant boost in revenue estimation, with the company expected to surpass $150 million in sales this year. By charging a 2.5 percent fee on every transaction, Rarible’s revenue for 2021 is estimated to be around $3.75 million.
Rarible’s current valuation is not publicly disclosed, but with its rapid growth and multi-chain strategy, the company’s valuation is likely to increase in the coming years. Conclusion:
Rarible’s revenue model, multi-chain strategy, and governance token have contributed significantly to the platform’s adoption and trust.
The company’s funding rounds and notable investors have given the platform a significant advantage over its competitors. Rarible’s revenue estimation and sales forecast show continued growth in the NFT market, positioning Rarible as a market leader.
Rarible has emerged as a leading platform for buying and selling non-fungible tokens (NFTs) due to its user-friendly interface, transparent revenue model, and innovative multi-chain strategy. The platform’s governance token and seller verification processes have instilled trust and encouraged adoption.
The company’s funding rounds, notable investors, and sales and revenue estimation reveal the platform’s potential for growth and success in the NFT industry. As the usage of NFTs becomes more widespread, Rarible’s innovative approach and continued expansion to other blockchains highlight its importance in the market.
Rarible is a great platform for creators and collectors of digital assets who want a seamless and secure experience.