Rarible OPINIONS AND REVIEWS 2022 - Decentralized platform for NFT

Unlike OpenSea, Rarible is a decentralized platform for NFT that aims to be community based. Its ambitious plan to become a community-owned public good is a major factor in its popularity. If you are considering acquiring NFTs, it is essential to know more about a market leader like Rarible. Find out everything you need to know in our Rare notice.

Rarible, what is it?

Rarible identifies itself as the first user-owned NFT platform. This is an important market that was established in early 2020 in Moscow.

To better understand what it is, the platform can be identified through:

• A native governance token called RARI
• Its main focus: art
• The possibility of giving away artistic creations
• Buying, selling, exchanging and collecting artistic creations
• Invaluable quality of works of art as tokenized on the Ethereum Blockchain
• The exchange of intellectual property rights.

Through his project, Rarible democratized art. Access is easier for artists who need an exhibition.

How does Rarible work? I notify

Rarible works on three pillars:

1 - The artists or creators

How Rarible works largely depends on the activity of the content creators. The diversity of the works extends to:

• Music album
• Books
• Movie
• Paintings from ...

Artists and content creators contribute to the functioning of this platform. The Rarible ecosystem demonstrates this through various advantages:

• Benefit from a public exhibition without intermediaries (art galleries, agents, ...)
• Be known by community members and a wider audience
• Create an emotional connection with your audience.

2 - The system of royalties

Artists are rewarded for their work on Rarible through a royalty system. This mechanism allows artists to automatically earn a percentage on the next resale of their work.

Each creator is free to establish the percentage he wishes to receive on the resale of his work. Once the sale is complete, the amount is paid automatically.

3 - The verification system

A team of moderators is responsible for verifying user accounts. This procedure allows you to strengthen the security of users on the site. The verification system is based on:

• The statements provided in the identification form
• Visibility on users' social networks
• The number of items exchanged
• Interactions with other users of the platform.

How to create an NFT on Rarible?

Creating an NFT on Rarible is an easy process. You should proceed as follows:

• Start linking your wallet to the platform
• Start creating the NFT by clicking on the “Create collectible” button.
• Between single and multiple, choose the type of NFT you want.
• Download the created NFT and put it up for sale
• Specify the price in ETH of your creation.

Important A multiple type NFT can be sold in multiple copies. The service charge is 2,5% of the price you set.

What to do after the token is created?

After a token is created, various operations can be performed.

In fact, it is possible:

• Sell ​​your property directly
• Freely change the selling price of the contents
• Exposing the content to drive up the price of NFT
• Transfer the token to another user at no cost
• View all general information on tokens
• Erase the contents of the network (this is the burn).

The Rarible Native token: the RARI token

In its goal of being a self-sufficient and decentralized organization, Rarible has issued an ERC-20 token called RARI. The characteristics of this token are as follows:

• based on Ethereum
• allows active users to be rewarded
• offers users the opportunity to participate in the governance of the platform
• the total supply of RARI is 25 million, of which 85.000 are currently in circulation
• the token surpassed its ATH in March 2021
• its current price is 17,27 euros
• its market capitalization is 91.901.914 euros.

Regarding the distribution of the token offer, Rarible uses a system called " Market liquidity extraction ".. Distribution occurs in proportion to the volume of purchases and sales recorded on the platform.

In concrete terms, this translates into:

• 60% of the total offer is for buyers and sellers
• Distribution is equal between buyers and sellers (50% each)
• 10% of the total supply is for air launches
• 75.000 RARE are offered to collectors and designers
• 30% of the total offer is for the investors and the team.

The team behind Rarible

The Rarible team includes artists such as Lucia Ponteville. But the platform was created by two people:

• Alexei Falin - co-founder of the Sticker Place company specializing in computer software
• Alexander Salnikov - coordinator of Humaniq's ICO (HMQ), a tool for the unbanked.

How to buy Rari?

To buy RARI, you must first buy ETH or BTC and then make a trade. The purchase process is as follows:

1. Buy ETH or BTC

To buy Ethers or Bitcoins, proceed as follows:

• Choose your online broker
• Create a trading account
• Check your profile
• Deposit funds
• Buy ETH or BTC

Where to buy ETH or BTC?

1. Alvexus
2. Capital.com
3. eToro
4. bybit

2. Transfer your cryptocurrencies to a wallet

You must then deposit your ETH or BTC tokens in a secure wallet. We recommend using Metamask to facilitate transactions. It is also compatible with the Ethereum blockchain. Plus, you can link it to a Ledger wallet for added security.

3. Exchange BTC or ETH with Rarible

You have to go to an exchange platform to trade your tokens in RARI. The platforms where the exchange can be made are:

• Sushiwap
• Uniswap
• Gate.io.

Conclusion - Should I buy NFT on Rarible?

Rarible is unique in that it specializes in creating and trading NFTs in the art industry. Based on Ethereum, this platform puts its users at the heart of its business. Its RARI token continues to make good progress in the cryptocurrency market.

If you are considering using this platform, you should first buy ETH or BTC before trading on a dedicated platform. Our opinion is that Rarible is a reliable platform where you can buy your NFTs easily.