Rarible (RARI) is the native token of the Rarible NFT marketplace, a multichain platform that allows users to buy, sell, trade, or create non-fungible tokens (NFTs) across various blockchain networks. The token is used for governance, moderation, and curation on the platform, and it also rewards active users. With a maximum supply of 25 million, RARI is a key component of the Rarible ecosystem, which supports multiple blockchains, including Ethereum, Tezos, Polygon, Solana, and Immutable X.
Rarible (RARI) is a governance token that plays a central role in the Rarible NFT marketplace. It is an ERC-20 token that allows users to participate in the governance of the platform. Here are some key ways RARI is used:
Governance: RARI token holders have the right to vote on proposals that shape the development of the platform. This includes decisions on trading fees, new features, and other important aspects of the marketplace.
Moderation and Curation: RARI holders can act as community moderators and curate featured artwork on the platform, ensuring that the marketplace remains user-friendly and showcases high-quality content.
Rewards and Incentives: RARI tokens are used to reward active users on the platform. Users can earn RARI by buying and listing NFTs, participating in airdrops, and engaging in other activities that contribute to the platform's growth.
- Decentralized Governance: Rarible aims to gradually decentralize its platform, eventually ceding control to a decentralized autonomous organization (DAO) run by the Rarible community. RARI tokens will play a crucial role in this process, ensuring that users have a say in the platform's direction.
Overall, RARI is essential for the functioning and growth of the Rarible NFT marketplace, providing a mechanism for community engagement, governance, and incentives.
To store Rarible (RARI) tokens, you can use a Ledger Nano X wallet. Since RARI is an ERC-20 token, you can connect your wallet with MetaMask and add the contract address if it's not already listed. This will allow you to see and manage your RARI tokens securely on your Ledger Nano X device.
To buy Rarible (RARI) tokens, follow these steps:
Choose a Centralized Exchange:
- Coinbase: Create an account, add a payment method, and select Rarible from the list of assets. Enter the amount you want to buy and finalize your purchase.
- Uphold: Create an account, verify your email and identity, make a deposit using a debit card, credit card, or wire transfer, and then buy Rarible.
- Kraken: Create an account, verify your email and identity, make a deposit, and then buy Rarible.
Use a Decentralized Exchange (DEX):
- Trust Wallet: Download the wallet, set it up, and buy Ethereum (ETH) as your base currency. Send the ETH to your wallet and then connect it to a DEX like 1inch. Trade your ETH for Rarible.
Remember to research and understand the associated risks before investing in cryptocurrencies.
