Due to the increasing demand, we at CryptoTicker decided to write this article that deals with the famous NFT exchange Rarible. Google trend reports show that NFT-related searches are peaking. This article is primarily concerned with the Rarible swaps and Rarible’s NFTs. Sit tight, relax, take a deep breath and enjoy 😀
If you’re interested in cryptocurrency, technology, and anything that keeps humanity moving then you definitely know about NFTs. These non-fungible tokens are redefining digital ownership. In real life, governments and financial institutions and other centralized entities grant and secure property rights. Today, NFTs want to change that and give blockchains the right to define who owns what. That way, nobody can step in directly, and smart contracts do the job. When you want to transfer ownership of something at a certain price, NFT exchanges come into play, and Rarible does it thanks to Decentralized Autonomous Organization (DAO) structures.
RARIBLE – The NFT marketplace
What is rarible?
Rare is an NFT marketplace. Users can log in with Ethereum wallets to buy and sell digital art. In fact, you can think of it as a eBay for digital items. In addition, Rarible gives users the ability to seamlessly create their own NFTs. The platform is used to create (or emboss) NFTs with a very simple process that makes it available to anyone with little experience with NFT (yes, even your old grandpa).
Who Owns Rarible?
The founders of Rarible are Alexei Falin and Alexander Salnikov. You co-founded the project in 2020. Both have a FinTech and an entrepreneurial background. In addition, the entire team is stationed in Moscow. According to the company, the team consists of many artists, which gives a certain feeling of “art orientation”.
Is Rarible Safe?
Rarible is very safe. In fact, the company went down the decentralization route and chose to be a community marketplace. Also, only verified creators and collectors will be displayed on the marketplace. This would eliminate spam postings or reduce the worst cases. Their review process is very neat and makes sure you get the full story behind each artist or collector. They also recently added a Twitter verification by linking your Twitter account. Let’s jump to the next question when we talk about community ownership.
Does Rarible have a token?
Yes! RARE is the sign behind the NFT marketplace Rarible. Token holders can have a say in how the project progresses. You can consider them a corporate shareholder and have the following privileges:
- Vote for platform upgrades
- Select selected graphics on the home page
- Take part in the moderation activities
The RARI token exploded in prices last month and shot through the roof from a price of USD 2.3 to a current price of USD 34.4, which is more than 1,300%. Should I BUY RARI? When you consider that market capitalization is still relatively low compared to other exchanges, there is still plenty of room for higher prices.
- Current price: USD 34.4
- Market capitalization: $ 29.3 million.
- Market Capitalization Rank: # 625
Fig.1 RARI / USDT 4-hour chart with a price increase of 1,300% – TradingView
This price hike is definitely due to the increasing fame of the NFTs. Since this is an NFT market, its token has made significant profits. If we look at Google Trends for NFTs, we can clearly see a correlation within the same time period.
Fig 2 Google trend – NFT interest over time
How do I buy RARI?
There are many exchanges where you can buy RARI, the trademark of the NFT exchange Rarible. Here is a list of the exchanges that RARI is listed on for trading:
- 1 inch
Does Rarible support METAMASK?
To sign up with Rarible, you need to do so through an Ethereum wallet. Rarible has many options for Ethereum wallets including the famous METAMASK. Here is a list of ETH wallets:
Fig. 3 Rare for a wide variety of Ethereum wallets
Use of RARIBLE NFT
If you are looking to use the Rarible exchange to trade NFTs, the list below is for you. We break down the steps to be ready to take advantage of the exchange:
- If you don’t have an Ethereum wallet, read this article and download METAMASK
- Go to the Rarible website
- Click the “Connect” button at the top right of the header
- Select the connection with your METAMASK wallet (from step 1).
- You are now on the homepage and connected
That’s pretty much it! Getting started on your NFT journey is super easy. On the top header, you can now view the listed items, follow other accounts, and place bids. You can also verify your account by going to the “My Items” tab and clicking “Verify Account”. To do this, fill out a questionnaire that will give you more access and visibility in the market.
Stay ahead, stay up to date
This post may contain advertising links that we can use to fund the website. When you click on the links we receive a commission – but the prices don’t change for you! 🙂 🙂
Disclaimer of liability: The authors of this website may have invested in cryptocurrencies themselves. They are not financial advisors and only give their opinion. Anyone looking to invest in cryptocurrencies should be well informed about these high risk assets.
Trading in financial products, especially with CFDs is associated with a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Note that most private investors lose money if they choose to trade CFDs. Any type of trading and speculation in financial products that can generate unusually high returns is also associated with an increased risk of losing money. Note that past wins are not a guarantee of positive results in the future.