Rarible NFT towards the multi-chain future with Ethereum, Flow, Tezos and more

Rarible’s NFT marketplace looks similar to its flagship competitor, OpenSea, but takes a different approach to serving digital collectors. For example, Rarible’s RARI governance token gives its users a voice in the future and contributes to its success. However, Rarible is pushing for a multi-chain future more quickly alongside the currently largest network for NFT, Ethereum.

In November, Rarible launched support for Flow, Dapper Labs’ growing blockchain network that hosts the NBA Top Shot. And last week the market announced plans to support Tezos NFT in mid-December.

Tezos has no way of keeping up with Ethereum’s NFT trading volume, but it is home to a vibrant crypto arts community and is powered by creators like blue chip artist XCOPY NFT and successful crypto artist XCOPY NFT Linkin Park member Mike Shinoda supports. Its largest NFT store, Hic et Nunc, recently closed, but within a few days an identical “mirror store” was re-created.

The merging of the Ethereum, Flow and upcoming Tezos NFT ecosystems makes Rarible unique and connects three Layer 1 blockchains into one house.

FTX US currently supports Ethereum and the growing Solana NFT ecosystem, while OpenSea supports Ethereum, Klaytn (popular in Korea) and the Ethereum Layer-2 polygon scaling solution. For its part, OpenSea announced plans to support both Flow and Tezos earlier this year, but the two have yet to be integrated.

“We are currently the only market that supports some Layer 1 chains. Most other markets only support Layer 2 chains, such as Polygon, we will be implementing that chain soon, ”said Alexei Falin, CEO and co-founder of Rarible.

Falin also confirmed that the platform will very soon support Solana on its roadmap – which is being developed in-house at Rarible, while the developers at Tezos have incorporated their own implementation into the market protocol. The development of open source makes it easier to pool resources and allow blockchain builders to develop on the Rarible protocol.

Flow is the fun part of the equation. Dapper Labs says there are more than 600 developers building on the blockchain, but most of those projects are still unfinished. NBA Top Shot was a huge hit, and Dapper has an NFL equivalent, NFL All Day, available soon, but Flow’s broader NFT ecosystem could quickly pick up momentum as more projects come out.

Describing Dapper as a “fairly successful” project to attract intellectual property owners to the Flow ecosystem, Falin called the future expansion of the blockchain a “really big opportunity” for Rarible. Rarible also allows users to imprint their own NFTs on Flow, giving anyone access to an increasingly decentralized blockchain network that is cheaper to use than Ethereum.

Rarible also recently introduced the first-to-market integrated messenger feature that enables NFT buyers and sellers to communicate directly using their Ethereum wallet addresses. This saves you the hassle of getting in touch via Twitter or Discord.

Rarible also plans to make the messenger engine a standalone product that other Web3 developers can use. In this case, Falin says what initially worked for Rarible could ultimately benefit the entire NFT ecosystem.

“We try to make products that industry needs and products that Rarible needs.”

Late last year, before the NFT market really took off, Rarible was generating more monthly Ethereum trading volume than OpenSea. But then OpenSea hit more than $ 3 billion in months, while Raribel’s best month in August, according to data from Dune Analytics, was a little over $ 21 million in transaction volume.

Falin believes the NFT market is just beginning and trends and preferences are changing rapidly, but he also suggests that Rarible is building in other ways.

Between token-based community ownership and maintaining a protocol that other apps can mine and build on, Rarible is targeting other areas where the sheer volume of ETH alone cannot be quantified. News on Monday (December 6th) that OpenSea plans to go public with a traditional IPO, rather than an early user token airdrop, could add to that sentiment.

“We have a slightly different approach to OpenSea. We try to be as decentralized a Web3 company as possible. “

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