What Is The Rare Antiquities Token (RAT)?

The Rare Antiquities Token (RAT) is a platform that allows users to pay at museums, galleries, and the heritage sectors for admission, goods, services, trading, etc. The platform consists of the RAT To Pay chargeback program, the RAT antiquities wallet, and non-fungible tokens (NFT) antiquity rewards. Here antiquity means coins, art, statues, graffiti, relics, collectibles, etc. The platform runs on blockchain technology and aims to become the first cryptocurrency to use in the museums, galleries, and heritage sectors while benefiting the company. 

In the chargeback program, the users pay an admission fee in the museum via the platform, and the admission fee is refunded back to the user’s RAT wallet. According to its whitepaper, the RAT To Pay chargeback program assures users entry into the museum is free. Further,  users can use the RAT antiquities wallet to purchase and store rewards. For NFT antiquity rewards, the users can purchase antiquity. Along with antiquity, users create another digital asset. The NFT standard of the asset verifies the digital scarcity and maintains ownership. The ownership also allows holders to mint NFT. Minting means creating a block on the blockchain, validating the info, and recording the info on the blockchain. Therefore, RAT holders own an NFT and keep details of data like antiquity name, licensor, brand, etc. 

RAT is the native cryptocurrency of The Rare Antiquities Token. The platform charges a 3 percent tax on all token purchases to create a stable market. 

The platform aims to onboard artists and creators to use the marketplace, launch NFTs into the metaverse, and start the development of RATWorld in the upcoming months. 

History of The Rare Antiquities Token (RAT)

Ryan Howells, the CEO of the Rare Antiquities Token, launched it in Q3 of 2021. The team includes Lee Davies, commercial director, and Benjamin Gordon, head of product. 

The Rare Antiquities Token (RAT) has a total supply of five hundred billion RAT.