Rare NFT Marketplace: How to Get Started
The rise in popularity of non-fungal tokens (NFTs) has turned the once obscure art form into an overnight sensation. From bored monkeys to pixelated punk and everything in between, there is no shortage of NFTs to add to the collection – or places to buy them.
Rarible is one of the many digital art galleries and marketplaces where NFT owners display their collections and present them for sale. The ability of any member to create their NFTs within one of the three blockchains, Ethereum, Tezos and Flow, sets this market apart.
What is a Reable NFT Marketplace?
Rarible NFT Marketplace was founded in 2019 by founder Alexei Fallin, product manager Alexander Salnikov and product designer Ilia Komolkin. The Los Angeles-based company has a business value of $ 274 million and serves 1.6 million customers.
One reason Rarible stands out is its partnership with major companies and celebrities. Social media site Twitter, fast food operator Yum! Brands, boxer Floyd Mayweather Jr. and actress Lindsay Lohan all started their NFTs with the help of Roribble.
You do not need to be a celebrity to create an NFT project with Rarible. Since it provides access to three different blockchains, anyone with vision and artistic ability can “mint” their NFTs and make them available to collectors. In some cases, producers can print their NFTs for free by paying the buyer a mint fee and providing an entry point with minimal financial risk.
What do I need to do to get started in Rarible?
Getting started in Rarible is a simple and straightforward process. You will need a cryptocurrency wallet for the blockchain you selected to create the account
To create an account to buy and trade NFTs, you need a wallet that supports one of the three blockchains that Rarible works with: Ethereum, Tezos and Flow. While MetaMask is arguably the most popular wallet among NFT collectors, there are other Ethereum wallets that can be used reliably:
My ether wallet
Those who want to use flow tokens in Rarible will need to connect their Blocto wallet, but Tezos users will need to link to a wallet that supports Beacon. Tezos options include:
From there, ew customers must accept the terms and conditions and make sure they are over 13 years old. After a few moments, you’re ready to create, buy and sell NFTs through Rarible.
Buying and trading NFTs on Rabbit
Since Rarible supports transactions across three different blockchains, there are many ways to buy and sell NFTs. It depends on where the token was mined and how much it cost. There are two ways to buy NFTs in Rereable: by buying at a fixed price or by auction.
Fixed price: The seller lists the NFT for sale at a fixed price to the buyer. If you want to buy it, click on the “Buy” button in NFT and complete the transaction.
Auction: With auction, an NFT is put up for sale for a specific period of time, where multiple individuals can submit bids. The person who bids the most at the end of the auction gets the right to buy the NFT at the highest price. At this point, the auction will only be processed in cryptocurrency and be prepared to buy enough coins to cover your maximum bid. Also, keep in mind that any crypto transaction is usually taxable.
There are various ways you can buy NFTs for each blockchain supported by Rarible. For example: The CryptoEggs “Civilizations” collection contains a collection of animated NFTs in the Ethereum blockchain. To purchase NFTs and add them to your connected wallet, click on the “Buy” button. The checkout window will pop up, showing you the price after a 2.5% service charge. If you do not have enough funds in your wallet, you can also make a purchase using Visa or MasterCard.
However, not all wallets and blockchains allow you to purchase NFTs using credit or debit cards. For example: The Ottez NFT collection is printed on the Tezos blockchain. When you select “Buy Now”, you must have enough Tezos coins to complete the transaction. With Tezos NFTs, you can not buy them directly using Visa or MasterCard – but you can add funds directly to your wallet using the Rarible card.
Once you have one or several NFTs, you can list them for display and sale on your profile. Since NFTs are stored in your linked crypto wallet, you can choose to display them below your profile on the site and list your price. If someone decides to buy your NFTs, Rarible handles a secure transaction, making sure the NFTs go into the buyer’s wallet and deposit your currency.
Creating your own NFT in Rarible
Rarible allows creators to jump into the digital art world with their own NFTs – or “castings”. The process is simple: to get started, click the “Create” button at the top of the page.
Your first decision is what blockchain you want to print on. Each comes with its own fees and other benefits and risks, so be sure to do your research in advance. Next, you will be asked if you want to create multiple NFTs of the same function or multiple NFTs of Mint. Acceptable file types are PNG, GIF, WEBP and MP4. Any pirated NFT or art that infringes copyright laws will be immediately removed from the Platform.
The next steps are the nuances of the job: title, description and sales type for the NFT. You also set your royalty value, which is the amount you receive each time someone resells your art. To make your NFT collection more attractive, you can also add unlockable content, including secret links or additional downloadable content for buyers.
Finally, you have the option to pay the gas charges associated with finding your NFT or mining for free. If you decide to go it cheap and risk the low bandwidth you are only fooling yourself.
Bottom line: Isn’t Rabbit the right market for me?
While you may not find any tough monkey yacht club or cryptopunk NFTs here, Rumble provides a unique platform for both collectors and creators to create digital art. Since it supports three different blockchains, this marketplace offers new customers the opportunity to enter the region without spending much on cryptocurrency or transferring tokens from one wallet to another.
However, before jumping into the Rarible, you should do your own research and take proper care of any NFTs you want to buy. As with any investment, there is no guarantee that any NFT will increase in value over time and may even lose value. By clearly understanding the risks and rewards, you can make the best decisions for your journey in cryptocurrency.