|Market Cap||$ 19.0M|
|Volume 24h||$ 0.8M|
As of the most recent data, the price of Rarible (RARI) has increased to $ 1.64. This represents a change of +1.63% over the past 24 hours. The cryptocurrency market is highly volatile, so prices can fluctuate significantly in short periods.
Rarible is a decentralized platform that enables creators and artists to issue and sell unique digital assets that represent ownership of their work. These digital assets, commonly known as non-fungible tokens (NFTs), are one-of-a-kind or limited-edition collectibles that can be bought, sold, or traded. RARI is the native utility token of the Rarible platform, which is used to reward users for participating on the platform and to facilitate governance decisions within the Rarible ecosystem.
The team behind Rarible consists of co-founders and a larger group of developers and creatives who are passionate about the intersection of art and blockchain technology. As the creators of Rarible remain influential figures in the development of the platform, they work to ensure that Rarible's direction aligns with its community's interests through decentralized governance structures.
Rarible operates by using blockchain technology to create a transparent and secure way for artists to sell their work directly to collectors. Each NFT minted on Rarible is tied to a digital or physical artwork and includes verifiable information about the artwork's provenance and authenticity. Users can create an account, mint their own NFTs, put them up for sale in auctions or fixed prices, and participate in the wider community activities.
What's distinctive about Rarible compared to other platforms is its focus on decentralized governance with the RARI token. Holders of RARI tokens have the power to vote on platform upgrades and community-driven initiatives. Additionally, the platform emphasizes creator empowerment and community involvement, making the creative process behind NFTs more accessible to a broader audience.
The RARI token serves multiple purposes within the Rarible platform. It acts as a governance token, enabling holders to vote on proposals that affect the platform's future. It is also distributed as a reward to users who buy or sell NFTs on Rarible, thus incentivizing participation in the ecosystem. The token approach democratizes the platform's operation and aligns it with the wider decentralized finance (DeFi) movement.
The Rarible network is secured through the Ethereum blockchain, which employs proof-of-work (and is shifting towards proof-of-stake) consensus mechanisms to ensure that all transactions are verified and immutable. Users' items and data on Rarible are also protected by the same cryptographic principles that secure Ethereum, making fraud and counterfeit almost impossible.
As of the latest figures, the circulating supply of Rarible (RARI) tokens is 11.6M. It's important to note that the total supply of RARI tokens is capped at 25.0M, which means no additional tokens will be created once the maximum supply is reached.
Rarible currently has a market capitalization of $ 19.0M, making it the #842 ranked cryptocurrency in terms of market cap. This valuation is calculated by multiplying the current price of RARI by the circulating supply.
Rarible (RARI) tokens can be purchased on a variety of cryptocurrency exchanges. Some of the platforms where RARI is available include CEX.io, Mercado Bitcoin, CoinEx. As always, it is vital for users to do their research and use secure methods while buying cryptocurrencies.
To keep your RARI tokens safe, it's wise to store them in secure wallets, such as hardware wallets, which offer offline storage and backup. Additionally, being vigilant about the security of your online wallets, using strong passwords, enabling two-factor authentication, and being cautious with the transactions you sign will also contribute to the security of your RARI tokens.