Based on increasing demand, we at CryptoTicker decided to write this article that tackles the famous NFT exchange, Rarible. Google trend reports show that NFT related searches are reaching their peaks. This article will tackle mainly the Rarible exchange and Rarible NFTs. Sit tight, relax, take a deep breath, and enjoy 😀
If you’re into Cryptocurrency, Tech, and everything that brings humanity forward, then you definitely know about NFTs. Those Non-Fungible Tokens are redefining digital ownership. In real life, governments and financial institutions and other centralized entities grant and ensure ownership titles. Today, NFTs want to change that, giving blockchains the right to define who owns what. This way, there is no direct intervention from anyone, and smart-contracts do the work. If you want to transfer ownership of something for a certain price, NFT exchanges are entering the game, and Rarible is doing so thanks to DAO structures (Decentralized Autonomous Organization).
RARIBLE – The NFT Marketplace
What is Rarible?
Rarible is an NFT marketplace. Users can sign in using Ethereum wallets in order to buy and sell digital art. In fact, you can consider it as eBay for digital items. In addition to that, Rarible offers users the ability to create their own NFTs seamlessly. The platform is used to create (or mint) NFTs with a very easy process that makes it accessible to anyone that has little experience in NFT (Yes, even to your old grandpa).
Who Owns Rarible?
The founders of Rarible are Alexei Falin and Alexander Salnikov, and they co-founded the project back in 2020. They both come from a FinTech and entrepreneurial background. Also, the entire team is based in Moscow. According the the company, their team is compromised of many artists, which gives a certain feeling of “Art Orientation”.
Is Rarible safe?
Rarible is very safe. In fact, the company decided to take the decentralization path, opting to become a community-owned marketplace. Also, only verified creators and collectors are shown on the marketplace. This way, spam postings would be eliminated, or worst cases reduced. Their verification process is very tidy and makes sure they get the full story behind every artist or collector. They also added recently a Twitter verification, by linking your Twitter account. Talking about community-owned, let’s jump to the next question.
Does Rarible have a Token?
Yes! RARI is the token behind the NFT marketplace Rarible. Token holders have a say in how the project progresses. You can consider them as a company shareholder, and have the following privileges:
- Vote for platform upgrades
- Choose featured artwork on the homepage
- Participate in the moderation activities
The RARI token exploded in prices last month, and shot through the roof from a price of USD 2.3 all the way to a current price of USD 34.4 making more than 1,300%. Should I BUY RARI? Well, looking at how the market cap is still relatively low compared to other exchanges, there is still plenty of room for higher prices.
- Current Price: USD 34.4
- Market Capitalization: USD 29.3 Million.
- Market Cap rank: #625
This price increase is definitely due to the increased fame of NFTs. Rarible being an NFT marketplace, its token made significant gains. If we look at Google Trends for NFTs, we can clearly see a correlation within that same period of time.
How to BUY RARI?
There are many exchanges where you can buy RARI, the token of the NFT exchange Rarible. Here’s a list of those exchanges that list RARI for trading:
Does Rarible support METAMASK?
In order to sign into Rarible, you’d need to do that through an Ethereum Wallet. Rarible gives many options of Ethereum wallets, including the famous METAMASK. Here’s a list of support ETH wallets:
How to USE RARIBLE NFT
If you’re looking to use the Rarible exchange to trade NFTs, the below list is for you. We break down the steps in order to become ready to use the exchange:
- If you don’t have an Ethereum Wallet, go to this article and download METAMASK
- Go to the Rarible website
- Click on the top-right “Connect Button” in the header
- Choose to connect with your METAMASK wallet (from step 1)
- You are now in the homepage and connected
That’s pretty much it! It’s super easy to start your NFT journey. From the top header tab you can now explore, see your listed items, follow other accounts, and place bids. You can also verify your account by going to the “My Items” tab, and click on “Verify Account”. You’d do so by filling a questionnaire, which will give you more access and visibility on the marketplace.
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