Rarible (SYMBOL: RARI) was launched at the beginning of 2020 by Alexei Falin and Alex Salnikov. Rarible is a Non-Fungible Token (NFT) marketplace where traders can mint, buy, and sell digital collectibles without any coding skills.  Their ultimate goal is to evolve towards a Decentralized autonomous organization (DAO), where all decision rights will belong to the platform users.
The first governance token in the NFT space, designed to reward active creators and collectors with a voice in Rarible's future. Make proposals, vote, curate, moderate –– the power is in your hands now. ^[1]

Overview

Rarible is an NFT marketplace where investors can mint, buy and sell digital collectibles without any coding skills. It is an NFT Issuance and Marketplace meant for users to Create and sell digital collectibles secured with Blockchain. Earn $RARI by using Rarible marketplace.

However, Rarible has a considerably more ambitious vision than merely becoming a platform for securing art and digital collectibles using blockchain. This is partly why investors are flooding to Rarible’s ERC-20 governance token, RARI. The Moscow-based platform Rarible was founded by Alex Salnikov and Alexei Falin back in early 2020. Fundamentally, Rarible represents a digital NTF platform with a particular focus on art assets. Specifically, Rarible includes a marketplace that allows users to trade various digital collectibles or NFTs, similar to OpenSea. Users can also use Rarible to create - commonly known as “minting” NFTs, or non-fungible tokens. This is a big deal for various content creators. For example, an artist could sell their creations, such as books, music albums, or movies, as NFTs.

Additionally, the artist might choose to then offer prospective buyers a sneak peek of the content - effectively a preview, trailer, or snippet - but only release the full content once a person purchases the relevant NFT. ^[2]

Rarible is also placing significant emphasis on creating an entirely autonomous platform, run through a community governance model. Moreover, Rarible is now shifting heavily towards becoming an actual Decentralized autonomous organization (DAO). Some of the most promising projects in the NFT arena lately have been NFT marketplaces. One of those marketplaces has been Rarible, which has gained considerable steam after the project recently announced it would pivot into a community-owned marketplace. ^[3]

Features

Rarible comes with state-of-the-art features and experience for NFT creation: ERC-721 and ERC-1155 standards support, multi-edition mining, custom on-chain collections, and creator verification and moderation. On the demand side, top-notch tools are in the works in the areas of discovery, engagement, and displaying works. Users new to blockchain should find friendly user experiences with Magic and Zerion integration, as well as upcoming credit card support.”

Beyond The LAO’s investment into NFT art platform Super Rare earlier this year, CoinFund’s Rarible investment is one of the most significant in the NFT ecosystem in 2020 because 1) it’s one of the first investments of its kind, and 2) it foreshadows other similar investments to come. Moreover, it was an acute spark that sent a surge of interest and attention in Rarible’s direction. ^[4]

Moreover

Rarible is set to issue 25,000,000 RARI in total, starting at an initial value of $0.34/token. This valuation comes on the back of the marketplaces $2.5M preseed valuation and is set to issue 75,000 RARI or roughly $25,500 in rewards each week through marketplace mining ^[5]

$RARI: the first governance token in the NFT space, designed to reward active creators and collectors with a voice in Rarible's future. Make proposals, vote, curate, moderate –– the power is in your hands now. ^[6]

We think that the best way to align platform development with customers' interests is to empower the ones who actively interact with Protocol: creators and collectors ^[7]

Currency ($RARI)

$RARI is a governance token with the Marketplace Liquidity Mining program and the airdrop for the large NFT holders. It is the token embedded in the Rarible Ecosystem. Currently, (9/21/2020) RARI is being ranked 2269 on CoinMarketCap.

RARI has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, users can still easily buy this coin by first buying Bitcoin from any large exchanges and then transfer to the exchange that offers to trade $RARI.^[8] 

How $RARI Spikes Interest. In July 2020, Rarible went where no NFT project has been before in unveiling $RARI, the NFT economy’s first governance token effort. The team explained:

Driven by the will to give our community the power to influence decisions and incentivize active participation, we are launching our own governance token. This new project-management model has proven to be efficient within DeFi industry, and we’re excited to launch the first governance token in the NFT space. ^[9]

$RARI distribution

To kick-start the token launch, Rarible conducted a RARI airdrop to all NFT holders. 10% of the total RARI supply is reserved for everyone who has purchased NFTs, regardless of the platform they used.

Airdrop Eligibility

• 15/07/2020 — existing Rarible users. Active users received 2% of the total RARI supply according to the Liquidity Mining principle: based on the previous volume on Rarible marketplace. Both buyers and sellers received 50%.
• 20/07/2020 — documented NFT holders/buyers. In this stage, 4% distributed among Ethereum addresses of all NFTs with documented sales on Dune Analytics.
• The third stage to be announced for the remaining NFT owners If incase anyone hasn’t found themself on the list, but they know they have significant NFT holdings^[10]
• Every Sunday 75,000 tokens are distributed to counterparties who made a sale or a purchase on Rarible during the week, both buyers and sellers equally receive 50% of the distributed amount.
• Issuance takes place every Sunday starting from 07/19/2020 for 200 weeks consequently 

How Rarible Works

Rarible offers a non-custodial marketplace experience for Ethereum users. To start, an investor will have to navigates to the Rarible site^[11] and connect their wallet (support for Metamask, Fortmatic, WalletLink, and WalletConnect). Once they have their wallet linked, they’ll be able to start minting NFTs and browsing the Rarible marketplace for what to collect. The marketplace’s main advantages include;

• Being open to anyone to use; some other popular NFT platforms only let approved applicants mint NFTs. In this sense, Rarible is DIY and for the little guy and up.
• A simple, easy-to-navigate UI. This is big when UX can be tough in the crypto to the economy.

How To Earn RARI

RARI is not an investment and is earned by active participation on the platform. 75,000 tokens are issued every week, with 50% reserved for buyers, and 50% for sellers.^[15]

Rarible marketplace. Rarible can be earned by actively participating in their platform. This can be referred to as marketplace Liquidity Mining. Over half of RARI’s total supply is reserved for sellers and buyers on Rarible marketplace, who will receive RARI through weekly distribution according to weekly purchases and sales volumes.^[12]

Participate in the airdrop. To kick-start the token launch, Rarible conducted a RARI airdrop to all NFT holders. 10% of the total RARI supply was reserved for everyone who had purchased NFTs, regardless of the platform they used. ^[13]

existing Rarible users. Active users receive 2% of the total RARI supply according to the Liquidity Mining principle: based on the previous volume on Rarible marketplace. Both buyers and sellers receive 50%. ^[14]

How To Buy Rarible (RARI)

To buy Rarible (RARI) on the Cryptocurrency exchange, you will need to have Bitcoin (BTC) or Ethereum (ETH) to trade with already. The good news is that it can easily be purchase Cryptocurrency exchange market, for instance, Coinbase, using a Credit card, or even Bank Account. Enter an email address in the get started to box, And MAKE SURE that the email address entered is one that can be accessed at any time and is the most secure email as this is how signing will be done to the Coinbase account.

Selection of INDIVIDUAL or BUSINESS will be required. Assuming an individual in this case. MAKE SURE to use a real name as Coinbase will use this for account verification. Coinbase will send an email to verify the inputted email address. Open the email and click on the link.

Sign in to the Coinbase account. There are a few more verification steps needed for completion. The first being verifying a mobile phone number. Coinbase user mobile phone number to set up Two-factor authentication (2FA) on account making the account even more secure. Basically, Coinbase will text each major change to the account including making purchases.

Now, set up the funding sources (that is how Bitcoin or Ethereum can be bought). Options are either using a Bank Account or Credit Card. When a purchase is made using a Credit Card, it will be immediately and have access to trade coins right away. ^[16]

Governance

the governance Token of Rarible is RARI. It enables the most active creators and collectors on Rarible to vote for any platform upgrades and participate in curation and moderation.

RARI token, awarded to the active users of the platform, acts as the governance instrument. it enables collectors and creators to vote on multiple upgrades and decide how the platform should develop further. This makes the governance of the platform directly responsive to most active users and brings Rarible closer to being a public good operated by the community members who value it most.

But in the initial exploratory period for RARI, most votes will initially be “advisory votes”. These are votes which will provide signals of users’ desires for Rarible that, in most cases, Rarble anticipates abiding by, but are technically non-binding. Such non-binding votes are a common tool in traditional corporate governance^[17] 

RARI does not confer any legal rights to manage the Rarible business or to receive profits from Rarible — in its initial version, RARI confers the right of active customers of Rarible to participate in each advisory voting process.^[18]

However, Over time, Rarible plans to look to transiting to a DAO for the decentralized governance of future protocol decisions. In the meantime, RARI will act as soft signaling for important protocol decisions like fees, features, and reserve pool allocation. Rarible has hinted they will be looking into something like Aragon Court (ANJ) for mediation, suggesting that the DAO will likely be Aragon-based. ^[19]

Rarible’s Flow Blockchain

The Rarible ecosystem has so depended on the Ethereum Blockchain to run its platform, and this is where the problem lies. As blockchains go, Ethereum is neither the most environmentally friendly nor the cheapest on which to mint NFTs. The entirety of every transaction on the ETH blockchain relies on proof-of-work, and fees fluctuate depending on overall network demand , Rarible initiates its move to Flow with the promised aim of ‘gasless minting’.

Not only will this appeal to people with green issues on their minds, it substantially lowers the cost of participation. And that means the very likely possibility of more people and brands getting involved with Non-Fungible Tokens (NFTs).

This Rarible Flow chain expansion costs the organization $14.2million USD. ^[20]

Prospects with Rarible

There are quite a number of great expectations from this renowned NFT ecosystem. One of its major moves is the launch of the Rarible DAO, or fully Decentralized autonomous organization. DAOs have experienced a resurgence in recent months, and among other things allow users, especially in Rarible’s case collectors and creators — to make proposals that impact its platform’s future, and vote on upgrades.

Last year summer (in 2020), Rarible also launched $RARI, its own native governance token. This was primarily designed to reward both creators and collectors on the network, and for many months following the July launch could only be earned by using the platform.

All that has since changed, meaning RARI is available to buy on several DeFi platforms like Uniswap. Some centralized crypto exchanges, such as Kraken, also trade in the token.^[21] 

Rarible Executive Team

Alexander Salnikov is Co-Founder, Head of Product at Rarible. Product Manager with 7+ years of experience and technical background. Co-Founded multiple crypto startups (one exit), Successfully built complex products focused on usability. Managed technical and marketing teams.

Alexei Falin. co founder^[22]

Rarible Investors

Coinfund. Venture Capital

Coinsuper is a Hong Kong-based "FIAT-to-Crypto" Exchange founded in 2017. ^[23]