What is Rarible?
Rarible is an open-source NFT marketplace where any user can buy, mint and sell digital items.
Rarible provides an opportunity for creators to monetize their work while allowing collectors to invest in unique digital assets.
It has become increasingly popular due to its ease of use and its ability to provide a safe environment for both buyers and sellers.
With its blockchain-backed system, users can rest assured knowing that their purchases are secure and their investments are protected.
Rarible has a range of tokens split into various categories namely; art, photography, games, metaverses, music, domains, DeFi etc.
It enables and simplifies the process of trading and distribution of all assets without needing a middleman.
Rarible is one of the few MNFT marketplaces that still allow royalties for their creators (which is a huge plus).
Users of Rarible are rewarded with Rari tokens for buying NFTs, which gives governance rights on the platform.
When a transaction goes through, both the buyer and the seller pays transaction fees.
Rarible fees
The platform charges a 1% fee on every transaction, which is split between the buyer and seller, which is one of the lower fees available in the space.
This fee covers the cost of processing the transaction on the blockchain and paying its miners.
For aggregated listings from other marketplaces, there is no fee charged by Rarible itself. However, it’s important to note that these listings may have fees associated with them from their original source.
Overall, Rarible’s fees are relatively low compared to other marketplaces, making it an attractive option for buyers and sellers alike.
The platform also offers additional features such as customizable profiles and collections, allowing users to showcase their digital assets in a unique way.
Rarible pros
Connect directly with creators: With Rarible's platform, you can connect with creators on the blockchain and purchase their tokens directly without any interference from a middleman or third party.
Easy to Use Interface: The interface of Rarible is designed so that users can get started quickly and make transactions effortlessly with just a few clicks using their wallet.
New Marketplace Features: Rarible incorporates new features such as custom gifting, auctions, and multi-signature wallets to make trading easier for everyone involved.
Low fees compared to competitors: Compared to competitors like OpenSea and CryptoKitties, the fees involved in trading through Rarible are lower than its counterparts.
Rarible cons
Issues With User Verification Process: The verification process in Rarible has been known to take longer than necessary for a few customers.
Rarible features
Global Marketplace: rarible enables you to sell digital items globally with no payment processing fees.
Real-Time Stats: Track who's buying, selling and trading inside the rarible marketplace.
Personalized Listings: Add vibrant media, interesting descriptions and stories to your live listings for more attention and visibility on the platform.
Instant Payments: Earn payments instantly when buyers make a purchase in your store via Ethereum transactions all supported cryptocurrencies.
Ownership & Provenance Tracking: Rarible allows artists, musicians and creators around the world to easily verify the authenticity of their digital products with its blockchain technology-backed system that authenticates ownership claims of each work listed in the marketplace.
Moderation & Fraud Protection: The Rarible platform features strict moderation controls along with anti-fraud measures that ensure high-quality experience for both buyers and sellers alike while protecting against scams and other types of frauds prevalent in digital art markets today.
Rarible marketplaces
Rarible has now added a feature called Rarible marketplaces.
With this, users are able to set up their own white-labelled NFT marketplace.
The best way to think of this is almost like a Shopify for NFT marketplaces.
Rarible handles the heavy lifting and you can quickly spin up an exchange location for your users.
It's ideal for those who want to build marketplace but might not yet have the expertise to build it from scratch.
What blockchains does Rarible work with?
Rarible currently supports the below chains.
- Ethereum
- Solana
- Tezos
- Polygon
- Immutable
