RARI RARI Price

What is RARI (RARI)?

RARI (Rarible Token) is the native governance token of the Rarible platform, a decentralized marketplace for non-fungible tokens (NFTs). Launched in July 2020, Rarible enables users to create, buy, and sell NFTs, with RARI facilitating governance and utility within the ecosystem. RARI holders can participate in governance decisions, voting on proposals that affect the platform's development and policies. As of 2024, RARI has gained traction in the NFT space, with significant trading volumes and an expanding user base.

Who are the Founders of RARI?

Rarible was co-founded by Alex Salnikov and Sergey Aksyonov. Alex Salnikov, serving as the Chief Product Officer, has a background in blockchain technology and product development. Sergey Aksyonov, the Chief Technology Officer, brings extensive experience in software engineering and has been key in developing the Rarible platform's infrastructure. Together, they aimed to create a user-friendly NFT marketplace that empowers creators and collectors alike.

How does RARI Work?

RARI functions on the Ethereum blockchain, utilizing smart contracts to facilitate the creation, sale, and exchange of NFTs. Users can mint NFTs by uploading digital assets and specifying their attributes. The RARI token plays a crucial role in governance, enabling holders to vote on platform upgrades and changes. The platform also features a liquidity mining program, rewarding users who provide liquidity to the ecosystem with additional RARI tokens. This incentivizes user engagement and helps stabilize the platform's economy.

Tokenomics

The total supply of RARI is capped at 25 million tokens, with a portion allocated for liquidity mining, community incentives, and team rewards. As of early 2024, RARI's market capitalization has fluctuated, reflecting the overall volatility in the cryptocurrency market, but it has remained a prominent player in the NFT governance space.

Top Use Cases of RARI

RARI has several key use cases within the Rarible ecosystem:

• Governance: RARI holders can propose and vote on changes to the platform, influencing its future direction.
• Incentives: Users earn RARI tokens by participating in liquidity mining and providing liquidity to NFT sales.
• Rewards: Active users and creators can receive RARI tokens as rewards for their contributions, fostering community engagement.
• Marketplace Transactions: Users can use RARI tokens for transaction fees or to purchase NFTs, integrating the token into the platform's economy.

How to Keep your RARI Safe?

Keeping RARI tokens safe requires several best practices to protect against hacks and theft:

• Use Hardware Wallets: Store your RARI tokens in hardware wallets like Ledger or Trezor, which offer enhanced security compared to software wallets.
• Enable Two-Factor Authentication (2FA): Always enable 2FA on your exchange accounts and wallets to add an extra layer of security.
• Be Cautious of Phishing: Be vigilant against phishing attacks. Always double-check URLs and avoid clicking on suspicious links.
• Keep Software Updated: Regularly update wallet software and devices to protect against vulnerabilities.
• Backup Your Wallet: Ensure you have a secure backup of your wallet's private keys or recovery phrases in a safe location.