Rarible is an online marketplace that aims to make the world of buying and selling valuable non-fungible tokens (NFTs) more approachable and affordable for everyday users. On their platform, digital creators can issue and sell custom crypto tokens that represent ownership in their art, and investors can buy and collect said tokens. Each token that creators generate, known as an NFT, is unique. In other words, it's not interchangeable—or “fungible”—like other crypto (e.g. Bitcoin) is. Rarible's software is the first of its kind: a distributed network built on Ethereum that enables community ownership and trading without a middleman.
How you make money
You can earn a return through buying and selling NFTs on Rarible. Purchase collectibles that you believe are undervalued, wait for them to appreciate, and then sell them in the marketplace. Rarible is also integrated with OpenSea, which allows you to sell your items in an even larger marketplace. It's important to note the royalties on each item. When you sell an item, there is a predetermined royalty paid to its original creator. While it's not investing, you can also make money on Rarible by creating and selling your own NFT. Rarible makes it easy for anyone to 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. 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 solid track record of Rarible should allow you to invest confidently through their platform. 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 responsive directly to its community members. On Rarible, you have a voice, and your voice is heard.
Venture capital firms have shown great confidence in the growth potential that NFTs hold, given that they offer a new path to ownership in the exploding market of digital content. In 2020, Rarible raised its first round of funding from the New York-based venture capital firm CoinFund. In mid-2021, the company closed another $14.2 million in Series A funding.