Rarible

Overview

Rarible is a software allowing digital artists and creators to issue and sell custom crypto assets that represent ownership in their digital work. Of note, Rarible is both a marketplace for those assets, as well as a distributed network built on Ethereum that enables their trade without a middleman. The tokens that creators generate on Rarible are known as non-fungible tokens (NFTs). Each NFT is unique, and unlike bitcoins (or other units of money), they are not interchangeable. This property is known as fungibility, which is why tokens on Rarible are called non-fungible. 

Why Invest

• Buy and Sell NFTs
• Active users can get RARI Token
• Better control over gas fees

How you make money

You can earn a return through buying and selling NFTs on Rarible. Purchase collectibles that you believe are undervalued or will appreciate then sell them in the marketplace. Rarible is also integrated with OpenSea, which allows you to sell your items in a much larger marketplace. It is important to note the royalties on each item.  When you sell an item, there is a predetermined royalty that is paid to the original creator.

At MoneyMade, we focus on the investing abilities of platforms. With that said, another way you can earn on Rarible is through creating and selling your own NFT. Rarible makes it easy so anyone can create an NFT.

How Rarible makes money

Rarible receives 2.5% on all sales as a service fee. Rarible leverages the Ethereum blockchain to embed within an NFT’s code the full history of its owners and transactions. Of note, when a transaction goes through, both the buyer and the seller have to pay transaction fees that go to the Rarible network. 

Is it Safe?

The ultimate goal of Rarible is to evolve into a fully Decentralized Autonomous Organization (DAO), where all governance and decision rights belong to the platform users. By providing creators and collectors with the opportunity to propose and vote on platform upgrades, they make sure that the platform becomes a public good, responsive directly to its community members. On Rarible, you have a voice, and your voice is heard.

In 2020, Rarible raised its first round of funding from the New York-based venture capital firm CoinFund, which has been one of the firms that is most confident about the growth of NFTs. It argues that NFTs represent a new way to own digital content, and that digital content will be a massive market in the years to come. The solid track record of Rarible should allow you to invest confidently.