NFT Marketplace Rarible and the RARI Token Explained

What Are NFTs Non-Fungible Tokens

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Non-fungible tokens are similar to collectibles, but digital or digital representation. These special cryptographic tokens have 4 key properties:

Can't be counterfeited
Can't be replicated
Can't print to demand
Has ownership guarantees

Two main types of NFT's

ERC-721 tokens
ERC-1155 tokens: Which combines both fungible and non-fungible tokens

What Is Rarible?

Rarible is on track to becoming the first decentralized and community-owned marketplace for non fungible tokens. Both ERC-721 and ERC-1155 tokens are supported on the Rarible platform.

What is RARI Token?

Rarible aims to become a DAO (decentralize autonomous organization) and an important part of making this come to be is a governance structure. That’s why the RARI token is a governance token. Right now, there are two main things you can do with RARI tokens.

Community voting - proposals to improve the marketplace.
Curation - community decides which NFTs should be featured on the Rarible marketplace.

What to expect from Rarible

The Rarible team has a plethora of different products and services in the pipeline. This includes things like:

NFT market indexes (buy baskets of collectibles)
price discovery mechanisms for NFTs (get alerts and notifications)
a mobile app (buy, trade, and swap nft's on the go)
social features (share, comment, interact with nft's)
DeFi NFT’s (Defi, yields, mining, rewards in the NFT space)
fractional ownership and more (Own fractions fo things such as domains, sales, real estate etc)