What is Rarible?

Rarible (RARI) is a platform that strives to facilitate the creation and trading of non-fungible tokens (NFTs), unique digital items such as artworks and game items. The platform is designed to be user-friendly, offering a fully-featured marketplace that is sorted and filtered using various categories for a seamless user experience. The RARI token is a key component of the platform, as it is used to reward active users and for participating in the governance of the protocol. Rarible intends to become more than just a marketplace for digital collectibles and art, aiming to create an autonomous ecosystem governed by RARI holders.

How does Rarible work?

Rarible operates by allowing users to create or "mint" NFTs through a simple process, making it accessible to those with little to no experience with NFTs. This enables artists and creatives to create and sell their digital products with zero barriers to entry while benefiting from the security provided by blockchain technology. The Rarible platform and protocol is an autonomous ecosystem that is governed by RARI holders, who are tasked with voting on governance proposals. Rarible aims to transition to a fully decentralized autonomous organization (DAO) structure in the future.

What are the potential use cases for Rarible?

Rarible seeks to provide a solution to the limitations faced by the intellectual property market, such as challenging licensing and paperwork requirements. NFTs represent an easily accessible alternative available to anyone with just a few clicks. The platform aims to empower artists and creatives by allowing them to create and sell their digital products with zero barriers to entry. Additionally, Rarible intends to use part of the revenue to subsidize the first mint transaction (NFT creation transaction) for users, among other business strategies to fuel the growth of the platform.

What is the history of Rarible?

Rarible was co-founded by Alexei Falin and Alexander Salnikov in early 2020. Falin, the CEO of Rarible, is also the co-founder of Sticker.Place, a computer software company that specializes in stickers. Salnikov, the head of product at Rarible, was the co-founder of Zenome and the ICO Director of Humaniq, a blockchain-based project that provides tools to the unbanked. The Rarible team, based in the US, consists of almost a dozen employees, many of whom are artists. The total supply of RARI is capped at 25,000,000, and its current circulating supply depends on user participation.