Rarible is a decentralized marketplace for buying and selling non-fungible tokens (NFTs) on the Ethereum blockchain. NFTs are unique digital assets that represent ownership of a specific piece of content, such as digital art, music, videos, or other forms of creative work. Unlike fungible tokens like Bitcoin or Ethereum, which are interchangeable and have the same value, each NFT is one-of-a-kind and cannot be replicated.
On Rarible, users can create, buy, and sell NFTs using their Ethereum wallets. The platform allows artists, creators, and collectors to monetize their digital creations and own unique, verifiable digital assets. Rarible uses a governance token called RARI, which is used to incentivize participation in the platform and enable community governance. Holders of RARI can earn rewards for contributing to the platform, such as curating content, staking tokens, and participating in platform governance decisions.
Rarible has gained popularity as NFTs have become increasingly mainstream, with high-profile sales of digital art and other NFTs generating headlines and attracting significant investment. The platform has also been involved in collaborations with well-known artists and brands, including Grimes, Steve Aoki, and Adidas, among others.
Rarible takes 1% on the buyer side and 1% on the seller side from every sale happening on the marketplace. That’s it.