RARI

What is RARI DAO?

RARI DAO is a community-governed, decentralized autonomous organization (DAO) at the forefront of shaping the future of the NFT ecosystem. This project revolves around two core infrastructure layers: the Rarible Protocol and the RARI Chain. The Rarible Protocol provides open-source, free-to-use infrastructure for NFT apps and experiences, including marketplaces, wallets, analytics, and more. Simultaneously, the RARI Chain, a secure and low-cost Ethereum L3 chain, ensures royalty payments through node-level enforcement, fostering a creator-centric and fully decentralized ecosystem.

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Recent Video Interview

Main points of the interview:

• Alexander Salnikov, co-founder and CSO of Rarible, shared his journey from small-town Russia to the NFT space.
• The evolution of NFTs, from early hype to current innovations like dynamic NFTs, digital identities, and IP rights.
• Addressed criticisms of NFTs, explaining that while metadata can be off-chain, ownership is securely recorded on-chain.
• Emerging NFT use cases such as digital identity, media ownership, and membership access.

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Governance and Core Values

RARI DAO oversees its treasury, approves budgets, incentive programs, and allocates grants to fuel the growth of both the Rarible Protocol and the RARI Chain. This vision is upheld by a robust governance architecture that allows anyone to engage in decision-making by locking $RARI tokens to exercise their voting rights. The core values guiding RARI DAO include autonomy, governance minimization through algorithms, efficiency, accountability, and a focus on long-term sustainability.

$RARI Token and veRARI

RARI:

• Governance relies on the $RARI token, a governance token of the Rarible Protocol ecosystem.
• Token holders can engage in governance by locking their tokens to obtain veRARI.

veRARI:

• veRARI represents non-transferrable voting power.
• The number of veRARI tokens aligns with the holder's voting power.
• Holders with veRARI tokens can submit and vote on proposals on-chain.
• Delegating tokens is an alternative for those who choose not to directly participate in governance.

Rarible Protocol: NFT Development Simplified

The Rarible Protocol serves as a decentralized toolset simplifying NFT development. It offers a foundational layer for NFT applications, allowing users to exchange, transfer, and mint NFTs. With a trading volume exceeding $300,000,000, the Protocol comprises an API layer providing real-time on-chain information and an SDK for streamlined NFT marketplace functionality. Governed by $RARI token holders through RARI DAO, the Protocol aims to facilitate a vibrant and collaborative NFT ecosystem.

RARI Chain

The RARI Chain, an EVM-compatible L3 network powered by Arbitrum, introduces groundbreaking features for NFT creators. Notably, it guarantees royalty payments on the sequencer level, ensuring creators receive their fair share. With low gas fees, ultra-fast block finality, and compatibility with other programming languages, the RARI Chain addresses the unique challenges of NFTs. Collaborating with prominent web3 infrastructure projects, the RARI Chain promises an exceptional experience for creators and NFT dApp developers.

The RARI Chain champions immutable royalties, ensuring creators always receive their preset royalties. Users can create, mint, and trade NFTs virtually free of gas fees, providing an optimal experience. Transactions can be conducted in ETH, USDC, or USD via credit card without the need for bridging or waiting. Integrated with the Rarible marketplace and governed by the RARI DAO community, the RARI Chain prioritizes community representation and diverse voices in shaping its development.

The RARI Chain proudly collaborates with Arbitrum, Caldera, Celestia, Decent, Gelato, LayerZero, Magic, Rainbow, SimpleHash, Thirdweb, WalletConnect and Zerion.

Team Background

The Rarible team, headquartered in the United States, was established in early 2020 by co-founders Alexei Falin and Alexander Salnikov.

Alexei Falin, serving as Rarible's CEO, is also the co-founder of Sticker.Place, a software company specializing in stickers. Falin holds degrees from the University of Southern California and the Higher School of Economics in Moscow.

Alexander Salnikov, previously a co-founder of Zenome and the ICO Director of Humaniq, a blockchain-based project aiding the unbanked, brings extensive experience as a product manager. With a history of founding over five successful companies, Salnikov now holds the position of Rarible's Head of Product.

Project Development

In Q1 2024, Rarible Protocol achieved significant chain integrations, expanding its reach and capabilities. The foundational layer of the RARI ecosystem, Rarible Protocol, empowers developers with an out-of-the-box toolset, enabling millions to exchange, transfer, and mint NFTs in a free, open-source, and community-governed manner.

Key integrations include Chiliz Chain, tailored for sports and entertainment brands to build web3 ecosystems, enhancing SportFi NFT dApps development. Lightlink integration offers developers the ability to create gasless NFT experiences on an ETH L2 blockchain, advancing web3 adoption.

Additionally, the integration with zkSync facilitates affordable and accessible experiences, overcoming barriers to web3 adoption, as developers can build NFT dApps on this user-friendly infrastructure. Overall, these integrations signify Rarible Protocol's commitment to expanding possibilities and fostering a more inclusive NFT space.

RARI Price Analysis

As of November 24 2024 RARI has a marketcap of $23M. This is {{percentagefromath}} from its all time high of $46.70. In terms of its tokenomics, there's a total supply of 25M with 46% currently outstanding. Keep in mind RARI has a fully diluted value of $50M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.