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Rarible is an NFT marketplace aiming to connect sellers (typically content creators, digital artists, model creators and meme makers) with potential buyers who can select pieces they wish to purchase. When a seller places their digital asset on the platform, Rarible mints an NFT token that represents the digital asset. The platform deals with a variety of tokens split into categories such as; art, photography, music, domains, metaverse and much more.
Rarible vs Opensea Fees
If you compare Rarible vs OpenSea, you will notice Rarible does not charge a listing fee on its platform unlike Opensea. Rarible only takes 2.5% on the buyer side and 2.5% on the seller side from every sale on the marketplace. They simply take a flat rate of 2.5% and they offer free minting (creating/mining) of NFTs where other marketplaces would force you to cover all minting fees.
Supported Crypto Wallets
Rarible has integrated with a myriad of secure crypto wallets, which means you have more options store NFTs. Some of the wallets supported include:
- Coinbase Wallet
- Rainbow Wallet
How to buy an NFT on Rarible?
Below we will show you two different ways to buy an NFT on Rarible. The first will be how to buy NFT's using Ethereum and the latter will be how to buy NFT's using FIAT ($USD).
- Buy Ethereum from a trusted local exchange like Coinbase
- Create a Web3 wallet, we recommend MetaMask
- Transfer Ethereum from CoinSpot to your MetaMask wallet
- Connect Metamask to Rarible by clicking the profile button on the top right
- Browse NFTs on the Marketplace
- Approve Ethereum to transact and hit buy!
- Go to the explore page on Rarible
- Find the NFT you wish to purchase
- Click buy and press 'Add funds with Mastercard/Visa'
Is Rarible Safe?
Yes, it is one of the major NFT marketplaces and is regarded to be one of the most secure and fastest NFT Marketplaces offering instant purachses.
Rarible’s end goal is to eventually evolve into a fully decentralised autonomous organisation (DAO), where all decision-making and governance responsibilities are vested in the DAO's users. Platform upgrades are proposed and voted on by all users, ensuring that the platform is responsive. This means that no particular group of people control the direction of the platform, it is decided upon evenly amongst its users.