Rarible NFT | What Is Rarible | Rarible NFT Collection
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Welcome to our Rarible NFT video!
Rarible is one of the top-rated platforms where non-fungible tokens (NFTs) can be bought and sold. Users can create and mint their own NFTs without any coding skills while traders can buy innovative digital tokens. The platform is also the first to launch a governance crypto token in the NFT space.
About Rarible
Rarible Inc was launched in 2020 by owners and co-founders Alexei Falin and Alexander Salnikov. It is an open-source NFT marketplace where any user can buy, mint and sell digital items. The ownership of these items is exchanged on the company’s online platform using Ethereum blockchain technology.
Rarible has a particular focus on art assets and virtual collectables. The platform also stands out for its simple NFT minting process, which is particularly attractive to those with no coding skills. This has allowed artists and creatives to sell their digital art with low barriers to entry.
In July 2020, Rarible launched the first-ever governance token in the NFT space called RARI. Since then, its token price has increased tenfold. RARI was created to give the Rarible community the power to vote on platform upgrades and to participate in content curation.
How Rarible Works
Rarible is a marketplace that connects sellers, such as content creators or digital artists, with buyers who can purchase ownership over pieces, without a middleman. As a decentralised marketplace, Rarible trades happen through a smart contract and are logged on a blockchain ledger, which offers transparency and security for market participants.
When creators upload and mint their files on Rarible, this generates an NFT on the blockchain. Each NFT is unique and not interchangeable. Similar to other tokens on Ethereum, this allows NFTs to be transferred between wallets.
Tradable NFTs:
Art & photography – Digital art was a suitable fit for NFTs as much of what makes art valuable is its scarcity and ability to prove ownership.
Games – Digital assets can be bought within a game belonging to a participating company. Gamers would buy the item, which would be temporarily used while playing the game.
Music – Music and audio files can be uploaded and minted on Rarible. Musicians have turned to NFTs as a way to control how many editions can be made available on the marketplace. Instead of being paid per stream, they may earn more by being paid per edition.
Domains – Domain names can also be purchased on Rarible. For example, the purchase of the Binance smart chain domain is available on the platform.
DeFi – Users can trade a number of cryptocurrencies like DAI, ETH and Bitcoin. Call options on crypto are also being sold on Rarible.
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The information contained herein is for informational purposes only. Nothing here shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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⏰ Time Stamp ⏰
0:00 Intro
0:22 Rarible NFT Overview
6:15 Summary
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