What is Rarible (RARI)?

Quick Facts

• Type: ERC-20 governance token on Ethereum
• Platform: Rarible — a community-owned, multi-chain NFT marketplace
• Max Supply: 25 million RARI tokens
• Founders: Alex Salnikov and Alexei Falin
• Launched: 2020 (marketplace); RARI token followed shortly after
• Governance: RARI DAO controls protocol upgrades and treasury
• Multi-chain: Supports Ethereum, Polygon, Tezos, Solana, Immutable X, Base, and Flow

Introduction

Rarible is a community-owned NFT marketplace and protocol that lets users create, buy, sell, and trade non-fungible tokens across multiple blockchains. At the heart of the ecosystem is RARI, an ERC-20 token that gives holders a direct voice in how the platform evolves.

Rarible describes RARI as the first governance token in the NFT space, drawing inspiration from the DAO model that had already gained traction in DeFi.

History & Background

Rarible was founded by Alex Salnikov and Alexei Falin as a decentralized NFT marketplace. The platform launched in 2020, allowing anyone to mint, buy, and sell digital collectibles without coding skills.

As the community grew, the team introduced the RARI governance token to shift control of the platform toward its users — a move toward becoming a fully decentralized autonomous organization.

How Rarible Works

Rarible functions as an open NFT marketplace where creators can list digital art, collectibles, gaming items, and metaverse assets. A standout feature is lazy minting, which lets creators mint NFTs without paying upfront gas fees — the cost is passed to the buyer at the moment of purchase.

The platform supports multiple blockchains, giving users flexibility to trade on Ethereum, Polygon, Tezos, Solana, Immutable X, Base, and Flow. Rarible also operates RARI Chain, its own Ethereum Layer 3 blockchain, designed for secure and low-cost NFT transactions.

Tokenomics

The RARI token has a fixed maximum supply of 25 million tokens. The initial distribution allocated 10% via airdrop to early users, 30% to the team and venture investors, and the remaining 60% for community distribution through ongoing rewards.

Active marketplace participants — both buyers and sellers — were rewarded with RARI tokens, incentivizing platform engagement. The RARI DAO controls a multi-million dollar treasury, which funds grants, ecosystem growth, and protocol development.

Ecosystem & Use Cases

Rarible's ecosystem extends beyond a simple NFT marketplace. Key use cases for RARI include:

• Governance voting on fee structures, new features, and protocol upgrades
• Community moderation and NFT curation on the platform
• Marketplace fee discounts based on token holding tiers
• Staking to earn yield from protocol transaction fees
• Ecosystem grants distributed through DAO governance votes

Rarible also offers open-source tools through the Rarible Protocol, enabling other projects to build custom NFT marketplaces powered by the same infrastructure.

Team, Governance & Community

The RARI DAO is the governing body of the Rarible ecosystem. RARI holders can submit proposals and vote on decisions ranging from trading fees to treasury allocations, making the community a true stakeholder in the platform's direction.

The Rarible team has pursued ecosystem partnerships, including powering custom marketplaces for other Web3 communities, demonstrating the protocol's versatility beyond its own native marketplace.

Advantages

• Community ownership: RARI gives users direct governance power over the platform
• Multi-chain reach: Support for seven blockchains broadens access for creators and collectors
• Lazy minting: Lowers the barrier to entry for NFT creators
• Dedicated Layer 3: RARI Chain enables faster and cheaper NFT transactions
• Open protocol: Third parties can build custom marketplaces on Rarible's infrastructure

Risks & Challenges

• NFT market dependency: RARI's utility is closely tied to overall NFT trading volume
• Strong competition: Rarible competes with OpenSea, Blur, LooksRare, and other established marketplaces
• Governance participation: DAOs can face challenges with low voter turnout and slow decision-making
• Token distribution concentration: Early allocation to the team and investors may affect decentralization

Long-Term Vision

Rarible's long-term goal is to become a fully decentralized, community-governed NFT infrastructure layer. With the launch of RARI Chain and the open Rarible Protocol, the project aims to evolve from a single marketplace into a broader ecosystem of NFT applications — where RARI holders guide the protocol's growth, treasury deployment, and next-generation Web3 development.