“What is an NFT?” is the most frequently Googled NFT inquiry.
According to CoinGecko data, it is searched an average of 948,000 times each month worldwide. The second-most-searched NFT query is “How do you create an NFT?”— Google was used 287,000 times each month on average.
Despite its prominence in search, the NFT market significantly declined in Q3. CoinGecko recorded a 77% drop in total trading volume from Q2 to Q3 across the top five NFT marketplaces — OpenSea, Magic Eden, LooksRare, X2Y2, and CryptoPunks.
Another NFT marketplace, Rarible clone script, is reworking its own capabilities by launching version 2 and incorporating sustainable token incentives to increase trading volume.
Those are some of the essential stories that drew the attention of the Web3 Watch team.
Typically, Rarible NFT Marketplace has launched a host of stunning enhancements as it seeks to broaden its reach in the rapidly growing NFT sector. The platform’s new enlarged version, branded “Rarible 2,” is currently the seventh largest NFT marketplace (according to DappRadar data). The two most significant upgrades are a Web3 aggregator tool and new token-based user benefits.
So, What exactly is Rarible 2? What new features does it include, and what does this signify for the industry? Let us investigate:
Rarible 2
Rarible 2 is a “fully revamped” version of Rarible that aims to make a user’s “NFT experience easy, smooth, and fun.” Most importantly, Rariblr has now evolved into a consolidated marketplace (more on that later). Rarible 2 is distinguished by a new voting system, a better $RARi token usefulness, and a few additional features.
Upgradation of Rarible
NFT marketplace and protocol Rarible has expanded its ecosystem to include Rarible 2, an aggregated marketplace that gathers Ethereum listings from OpenSea, LooksRare, X2Y2, and Sudoswap.
According to the company, the purpose of aggregated NFT listings is to establish a one-stop shop for NFT collectors to get the cheapest pricing.
Rarible.com users can now add numerous NFTs to their carts and purchase several Ethereum ERC-721 NFTs in a single transaction.
Furthermore, the Rarible community — comprised of RARI governance token holders and RARI DAO members — recently voted in favour of adopting a RARI locking function as part of the Rarible 2 release.
The process of paying RARI to a token-locking contract in exchange for rewards is referred to as locking. Token holders who lock up their RARI may gain extra voting power in the system in exchange for “veRARI.”
The abbreviation “Ve” stands for “vote-escrowed.” Rarible claims to be the first NFT company to implement a RARI DAO-approved vote-escrowed model (ve-model).
Users who lock at least 100 RARI will be able to vote on Rarible’s weekly featured RARI rewards collections, manage the Rarible Protocol through the RARI Foundation, and profit from 0% trading costs on Rarible items.
The RARI DAO also established a rewards program for traders. Rarible.com consumers who purchase NFTs can receive RARI based on the royalties they pay for an item, commonly known as royalties cash back. Those who create an NFT listing from the weekly featured RARI rewards collection will be eligible to get RARI.
Those who purchased three or more NFTs from Rarible.com between July 1 and September 30 may be eligible for a retroactive airdrop of 100 RARI.
The above gives some glimpses of the Rarible 2 and let’s discuss the new features integrated into the Rarible upgrade.
Five new Rarible 2 Features
Rarible 2 is considered an aggregated Marketplace that applies to Ethereum and provides different upgradation in Rarible. In this article, we’ll go over a quick walkthrough for Rarible 2. So, without further ado, here are 5 new features to help you with your NFT.
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Get any NFT you require at the best possible price:
Rarible has evolved into a centralized NFT marketplace. It is also a unique aggregator where you may list your NFTs and get prizes. But first, let’s have a look at how the aggregator works. Rarible now features listings from:
- OpenSea
- Rarible
- Rarible Protocol is used to power all community marketplaces
- X2Y2
- LooksRare
- Sudoswap
These will be labelled with the appropriate logos. Please keep in mind that non-Rarible NFTs have varying fees, with Rarible buyer fees set at 0%(more on fees for Rarible-native listings). Rarible will not charge any additional fees for non-rarible aggregated listings.
As a result, in Rarible 2, all major marketplaces ate aggregated now and it does not charge any additional costs for buying NFTs, it’s now easier than ever to collect any Ethereum NFTs you want at the best prices through Rarible.
Aggregated listings are also displayed on Rarible’s mobile app for Android and iOS, allowing you to obtain any NFT on the market.
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Utilize Rarible to earn $RARI:
$RARI crew, Rejoice!
You may have heard of $RARI or even traded it in the past. The RARI Foundation is governed by the ERC-20 token. You can earn $RARI tokens by listing and trading NFTs through our brand-new rewards program. This is how it works: Every week, there are five collections for which you can earn $RARI rewards, known as $RARI Rewards Collections.
In case of buying Rewards: If you buy an NFT from a $RARI Rewards collection and transact on Rarible.com or any other eligible community marketplace in the Rarible ecosystem, you will earn a $RARI token based on the royalties you paid for those NFTs.
In case of listing Rewards: If you publish NFT/NFTs on Rarible.com and /or qualified community markets at or near the floor of one of the $RARI Rewards Collection, you’ll gain points every 10 minutes the listings are active (meaning if you unlist or your listings get sold, you stop receiving those points).
People who have accumulated points will be able to claim their $RARI at the end of each day. Any claimed $RARI will be frozen for two months, with 1/4 accessible for withdrawal on the first day of the second month and the remaining 3/4 vesting linearly from there.
We’ll begin with the five $RARI Rewards Collections listed below:
- Ledger Pass
- Doodles
- StreetMachine
- Nyolings
- Cyberkongz
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Lock in 100 $RARI, Unlock limitless opportunities:
Initially, Rarible offered its native token, $RARI, as a reward for listing and purchasing NFTs on the marketplace. Token holders will also have voting rights in RARI DAO, the decentralized autonomous organization.
The DAO has now implemented a new “locking” procedure by which token holders can lock their tokens. Those that lock in 100 $RARI or more will receive a variety of incentives. This includes 0% seller costs on the platform, private Discord access, the RARI Prime badge, and veRARI tokens.
Alternatively, those with less than 100 $RARI tokens can lock them up in exchange for an equivalent number of veRARI tokens where ve stands for “vote escrowed”. These tokens grant them voting rights on RARI Foundation initiatives.
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Select the NFTs you want from the bag, Buy them all at once:
You must first fill your bags before you can pump them! That is why Rarible now allows you to collect your favorite NFTs in a single transaction.
Previously, you had to check out each item one by one. You can now do everything with a single tap. To add an NFT to your backpack, simply click the “+” sign. Once you have collected all of the NFTs you desire, just check out with a single button press.
Not only does this make your shopping experience easier, but it also helps you save money on gas because it is always cheaper to buy multiple NFTs in a single transaction than to buy those NFTs separately.
It’s never been easier to buy NFTs on Rarible.
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Observe the market, Discover the best NFT plays:
The homepage has also been upgraded, allowing you to view trending collection status and allows them to filter based on timeframes (5mins, 30 mins, 1hr, 24hrs, 7 days, 1 month), chain, and floor price.
Furthermore, you can now set a particular price range for the NFTs while you for shopping!
Rarible 2-A brand new Rarible chapter, Ready to Explore!
Overall, Rarible 2 has a good start. As the sector undergoes turbulence, we can expect additional platforms to implement significant but essential reforms. This is a daring move by Rarible, as they continue to lean toward a decentralized Web3 approach. Rather than fighting for the top spot or relegating its business to a succession of niches, Rarible maintains the momentum they have had since opening its API in 2021 – not by becoming a lone destination, but by assisting everyone else in building its unique marketplaces and selling their NFTs. It will be fascinating to watch if the new RARI incentive tokens, with their voting and cost benefits, increase participation.
It’s tempting to label the NFT market as overcrowded at times, but Rarible is working to bring order to the turmoil by addressing everyone’s needs.
Those were the five most incredible features that are integrated into the Rarible. This has created super excitement towards the development of the Rarible software. Moreover, these features can also be added to your Rarible Marketplace by Rarible Clone Script to attract more customers. If you are a shining developer, the task will be easy by adding these features within a second. But in another case, you can select the NFT Marketplace providers to integrate these features in your Marketplace. And moreover, the updated version of your marketplace will definitely attract new customers. Finally, I am damn sure you will enjoy Rarible2.
