Steemit Crypto Academy Season 2: Homework Task by Professor @levycore|| Rarible - The Next Generation NFT Marketplace

From the time when man was able to create things, there has always been a yearning for getting the values for the things created, those who we normally see as content creators are basically artists and producers and for every work these people create, people always have a way of stealing these contents without getting punished for their actions but gratefully we have cryptocurrency that is providing laws and protection rights to these artists and in turn, it is then possible for artists to get full reward for the contents produced without anyone trying to steal their contents. A great advantage that the blockchain is giving to artists and users likewise is the creation of NFT tokens.

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What is an NFT?

There are usually several ideas but of course, the millions of products that people have every day was conceived by an individual first, NFT tokens were created in order to give the total right to the rightful producer of content, NFT tokens are not interchangeable like other popular cryptocurrencies, an NFT token gives no room for multiple owners it is completely unique and scarce.

NFT tokens are tokens that describe the strength and it is clearly different from every other type of cryptocurrency assets available, these tokens come with a unique code associated with individual owners with their transactions well presented on the blockchain.

As a result of the uniqueness of NFT tokens, it is not possible for the tokens to be split into smaller quantities, users who make use of NFT tokens have a guaranteed proof of ownership. NFT tokens provide solutions to a wide range of problems and it is available to a wide range of users who have a need for it and each of the users of NFT tokens have the complete right and authority to control their own NFT tokens.

Screenshot from Rarible

Rarible (The Next Generation NFT Marketplace)

Rarible is an Open-source marketplace launched in 2020 by Alexei Falin and Alexander Salnikov for the minting, buying, and selling of Non-Fungible Token (NFT) collectibles. As usual with every NFT marketplace, it is a place where creators can create NFTs and sell them and buyers can buy innovative or creative and special ones. Focused on art and virtual collectibles.

Investors such as Coinbase Ventures, Bollinger Investment Group, MetaCartel Ventures, and CoinFund amongst others invested in Raribles seed funding in February 2021 where it raised $1.75 million in seed funding.

Rarible facilitates the trading of NFT which happens through smart contracts on a blockchain ledger for the sake of transparency and security for market participants. When NFTs are minted, they are published on the blockchain, and each NFT is unique and cannot be tampered or changed. Since this collectibles are tokens, then they can be transfered from one wallet to another but then they are single and hvery unique. The the Proof of Provenance, users are offered with Intellectual property right.

The RARI Token

In July 2020, Rarible launched its RARI token with the aim of giving the community members the power to vote on the platform's governance and upgrades as well as use it to participate in the content curation of creators. The token can be earned by actively participating in the platform.

On Sundays, the RARAI token is shared amongst users in the community through the marketplace liquidity mining where 100% of the token is distributed to buyers and sellers at 50% alike. The RARI token can be bought on Poloniex, Gate.io, SecondBTc, BKEX, Hotbit, 1Inch, Sushiswap, DODO exchange, Ox protocol and so on.

RARI token Stat:

Current Price: USD 20.30
Market Capitalization: USD 73,202,005
Market Cap rank: #474

Conclusion

Rarible can be regarded as an NFT marketplace as well as a DAO platform as it allows for the creation, buying, and selling of NFTs, also, its token can be used for voting in governance, and curation.

Thank you @steemitblog and @levycore for the opportunity to learn and grow on the steemit platform, thank you for reading and have a great day.