Rarible - a platform, that allows you to convert the art objects into collectibles on the Ethereum network. The main advantage of tokenization of the digital works - these tokens are visible in a public blockchain. The owner, creator and points of sale can be tracked throughout the whole work.
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How was Rarible created?
Rarible - an Ethereum-based platform. It was created in order to make the principle of selling art objects more transparent. Firstly, the artist must upload his digital work to the platform. Next, the work will be transformed into an exchangeable token, that complies with the ERC-721 standard. Then artists can put them up for auction. Thus, all actions on the platform occur, using the unique NFT token.
The developers of the platform believe that the situation, that we can observe today, in matters of ownership of objects of art, is the reality of tomorrow.
General data about dapp
The Rarible resource is easy to use, as its functionality is understandable even to a novice. However, the platform doesn’t have a WhitePaper. If you need tips about using the site, you can watch the video guide. This service is in demand among users, due to the statistics from September 2019.
| Total users: | 555 |
| Total number of transactions: | 9 112 |
| Overall volume: | $31 257,33 USD |
Despite the fact that there is no RoadMap, the resource team is going to continue to improve the functionality of the platform. If you want to be the first to know about all the innovations, you can subscribe to social networks: Twitter, Instagram or Telegram. All you need for a start - to create the account and connect your personal wallet. This system guarantees that the funds will be safe and that third parties won’t have the access to them.
What is a NFT token?
If we talk about tokens, it’s worth noting that there are two types of tokens:
- replaceable;
- irreplaceable.
NFT or irreplaceable token - a completely unique digital asset, based on the blockchain. It has its own identifiers and is truly one of a kind. This leads to a digital deficit that is easy to verify. For comparison, replaceable tokens - the identical sets of assets that can be stacked with each other without the ability to distinguish them. Thus, all assets are equated to the NFT token and are used in this platform, since all art objects are unique and can’t be equalized.