In recent weeks, NFTs have received a lot of attention.
How exactly do you produce one? Where can one be traded?
With Rariable, anyone can mint, buy, and sell unique digital collectibles. Rariable is also one of the first marketplaces with liquidity mining with its native token, $RARI.
Besides collecting and trading collectibles, you can get RARI as a reward. They aim to become a public good owned by its community.
Here’s how to make money by creating & trading digital art on Rarible.
What is Rarible?
Rarible is a community-governed NFT marketplace where you can buy, sell, and create digital items, currently ranked No. 1 on both OpenSea and DappRadar. Furthermore, it was the first marketplace to introduce liquidity mining to the NFT space, rewarding its most active creators and collectors with RARI, the native governance token for the marketplace.
Here are detailed instructions on how to create, trade, and earn RARI while using Rarible.
Mint digital art:
Using Rarible as a platform for creators, you can receive exposure at no charge to your work without relying on third parties. Create your first NFT token in just a few clicks and start showcasing your work to the community!
Setup you profile
Aside from writing your personality, you should emphasize the following if you plan on remaining anonymous or using an alias:
- Tell us about yourself and your art.
- Cover image & avatar
- Links to your social media
Mint your NFT
- To get started, add your wallet via Metamask, WalletConnect, or WalletLink or sign up with Fortmatic (hence, the easiest option, connected to your phone number).
In addition to Rainbow and Coinbase, Coinbase wallet is a good option. Rarible does not own your private keys, so they cannot access your funds without your confirmation!
- Click on “Create collectible” on Rarible
3. You can choose “Single” if you want your collectible to be unique, or “Multiple” if you want to sell it more than once.
4. Files should be less than 10mb (.jpg, .png, .gif).
- A created item is associated with a collection. You can choose one of our default Rarible collections or create your own with a specific name, symbol and address with your items only.
2. Describe your work. Capitalize the name of your work (e.g. Name) and include a description! People love reading the stories behind the art they purchase.
3. Set your price in Ether or let the market decide. If you want to engage collectors, you might consider making your price low so they can resell. Or keep it premium & expensive. Just be aware there is a 2.5% service fee!
4. A royalty is paid to you when someone resells your work (if it is purchased and resold, you receive a percentage).
5. Confirm and sign! If you want to execute transactions from your wallet, you must approve Rare. Once approved, you must mint the token and sign the sell order.
The Rarible marketplace has listed your NFT for sale, which you can view in your profile’s collection.
Yield farm RARI
As soon as you begin using the platform, keep going. Active marketplace participation will qualify you for weekly $RARI distribution. RARI was designed as a community-centric platform, giving active members the ability to curate, vote on new features and more.
Each week, Rarible distributes 75,000 $RARI to legitimate creators and collectors who sold or bought NFTs; the more NFTs you sell or buy, the more RARI you get! Wash trading will disqualify you from earning RARI rewards if found.
Finally, the long-term goal of Rarible is to create a completely decentralized autonomous organization, in which all decision and governance rights belong to the platform users.
NFTs could grow to trillions.
With Rarible serving as one of the primary NFT marketplaces for minting, buying, and selling digital collectibles, creators and collectors can earn the majority of the upside.
Rarible is the only NFT marketplace that is capitalizing off the yield farming trend yet distributing RARI via liquidity mining. By mandating system upgrades, moderating creators, and curating artwork, Rarible’s community controls its future.
Rarible becomes a public good for its users. A platform for the next generation of creators.
Check out this video to Create NFT Art With No Coding Experience Using Rarible!