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Build & Govern Your Own NFT Marketplace with Rarible (RARI)

Build & Govern Your Own NFT Marketplace with Rarible (RARI)

Beginner
2024-04-19 | 5m

The year 2021 marked a watershed moment for Non-Fungible Tokens (NFTs), as they captured global attention and transformed the digital art landscape. Amidst this NFT revolution, Rarible emerged as a unique challenger, offering custom marketplaces across various blockchains. Its governance token, RARI, became central to RARI DAO, the governance body for Rarible Protocol.

What is Rarible (RARI)?

Rarible is a creator-centric NFT marketplace and issuance platform built with Rarible Protocol, and $RARI is its governance token that empowers those who actively interact with the protocol.

Anyone can easily create non-fungible tokens (NFTs) for unique digital items like artworks, game items and more on Rarible, just like they can create their own fully-fledged marketplace on almost any chain for any collection with Rarible Protocol.

Rarible Protocol is governed by RARI DAO, represented IRL by the RARI Foundation. $RARI is the governance token for the entire Rarible Protocol ecosystem issued in 2020.

How RARI works

The Rarible Protocol is a multichain indexer, a smart contract platform, an SDK, and the driving force behind over 5,000 NFT marketplaces, including the renowned Rarible.com. It also fuels a diverse range of applications beyond marketplaces, such as wallets and NFT analytics services. It works both with Ethereum Virtual Machine (EVM) based and non-EVM-based blockchains and supports EVM-compatible token standards such as ERC-721, ERC-1155, and ERC-20.

With Rarible Protocol, you can:

Build custom NFT marketplaces: display any item from any collection in any way you want, all made possible by the Rarible Protocol SDK.

Empower Web3 gaming: embed an NFT marketplace in your game, mint, trade, and enjoy gasless transactions on an infrastructure built with Rarible.

Create professional trading bots: trading NFTs can be just as easy as trading fungible tokens. With Rarible’s powerful indexer across all blockchains, you can build automated trading bots based on whatever strategy you have in mind.

Access real-time data and insights: Rarible also offers analytic tools with its API service. You can browse all historical market data and extract valuable insights with Rarible’s built-in data services.

As the governance token of the Rarible Protocol ecosystem, $RARI gives you the power to:

Participate in all Rarible’s governance activities. Propose, debate, and vote on grants, incentivization, and more by locking your $RARI tokens.

Delegate your voting power to trusted parties or become a delegate yourself by submitting an application to the foundation.

RARI goes live on Bitget

RARI DAO is a community-governed, decentralized autonomous organization that promotes the open-source and free-to-use Rarible Protocol. The DAO puts trust in autonomous mechanisms and governance minimization and focuses on optimizing its resources and making the protocol sustainable. As of now, the largest marketplace by Rarible has a daily trading volume of around 20 ETH, a top 10 NFT marketplace by DefiLlama.

How to trade RARI on Bitget

Step 1: Go to the RARIUSDT spot trading page

Step 2: Enter the amount and the type of order, then click Buy/Sell.

RARI token stands as a testament to a more versatile and decentralized future in NFT marketplaces, emphasizing community involvement and decentralized decision-making. As Rarible continues to grow, RARI will undoubtedly play a crucial role in shaping the platform's journey and the broader NFT landscape.

Trade RARI now on Bitget!

Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.