Have you heard of an online marketplace that has thousands of traders and processes millions of buy and sell orders in just a few months after its launch? Rarible is a modern NFT marketplace that sells various types of digital collectibles to both retail and institutional investors.
It is a highly secure platform as content creators and investors have 100% access to their funds always. Private keys safeguard all crypto assets.
Buyers can purchase high-value artwork, Decentralized Finance (DeFi) assets, domain names, gaming assets, memes, metaverses, music, and photos from the platform. Hence, entrepreneurs will know all the intricacies to create a blockchain NFT marketplace like Rarible.
Some statistics about the grand success of the Rarible NFT marketplace
- 52,369 traders have registered – on the Rarible blockchain NFT marketplace so far. It has processed a whopping trading volume of $149.95 million as per DappRadar.
- The Rarible NFT selling platform handles trades worth – $160,480 daily and $2.67 million every week.
- It has sold 153,238 NFTs – so far with a trading volume of $108.05 million.
- 1230 investors use the Rarible NFT marketplace – The platform has a positive cash balance of $3180. Additionally, it processes 2750 peer-to-peer transactions (P2P) every day.
Entrepreneurs aiming to make a splash into the trading of crypto collectibles can team up with an app development company. A customized Rarible clone script is created quickly. It contains user-friendly Android and iOS apps for artists and investors.
Moreover, an advanced admin dashboard helps in monitoring the day-to-day business operations efficiently. Additionally, a modern web panel helps in the smooth conducting of auctions for selling crypto collectibles to interested buyers.
Read more: Top NFT Marketing Agencies 2021
What are the various elements of the readily deployable Rarible Clone?
Create Collectible – Artists, designers, and photographers can create their own NFTs by clicking the “Create Collectible” option. Moreover, they can sell either single or multiple digital collectibles based on timed auctions.
Integrated digital wallets – The crypto assets of artists and investors are securely stored on different digital wallets. The Rarible clone supports popular wallets like Coinbase, MyEtherWallet, Fortmatic, Portis, Torus, WalletConnect, and WalletLink.
A detailed list of Top sellers – Buyers can enhance the value of their portfolio by purchasing NFTs listed by the Top sellers. The Rarible clone script categorizes the digital collectibles owned by the Top sellers daily, weekly, and monthly. 15 sellers are part of each list.
It includes details of the average price charged, links of their social media accounts, names of the artists, and website URL.
Live auctions – Investors are induced to buy multiple Non-Fungible Tokens (NFTs) sold on the Rarible clone through Live auctions. In reality, it consists of alien-themed NFTs, animated versions of dogs, CryptoPunks collections, Disco Biscuits, Herds of Bulls, and Mother Nature.
Hot collections – Is there anything better than this special feature? Hot collections sell the highly demanded crypto collectibles to prospective investors.
It consists of Beeple (Round 2 Edition and Special Edition), ERC-721 based artwork, ERC-721 NFTs (Axie, Hashmasks, Meebits, and Wrapped Cryptopunks), and ERC-1155 (Art Blocks, The Crypto Flamingo, Mani Grupa token, and Spiritual Gangsta).
Rarible Governance Token (RGT) – Buyers on the Rarible clone can purchase the RGT to get decision-making powers and voting rights. The Rarible governance token runs on the Ethereum-based smart contract.
Investors can store their RGTs in the MetaMask digital wallet (browser extension and mobile app). There are a total of 10 million Rarible Governance Tokens. Additionally, Airdrop programs offer free RARI tokens to buyers.
Investors can buy RGT from cryptocurrency exchanges like Bilaxy and Hoo. Buyers earn extra income through Marketplace Liquidity Mining. Equally important, buyers earn Rarible Governance Tokens for every purchase of NFT.
An integrated feedback system – Existing users of the Rarible clone script can share useful opinions and suggestions to entrepreneurs. Nevertheless, this helps in adding new features to the NFT marketplace like Rarible and boosts the overall trading experience.
An insightful Rarible Newsletter – NFT enthusiasts receive the informative Rarible Newsletter directly to their email addresses. Besides, it includes the latest updates about the launch of new artwork, market analysis, NFT project news, and other platform development alerts.
Other protection measures – Artists and content creators are completely safeguarded on the Rarible clone. They get protection against issues like copyright infringement, duplication, fraud, licensing, and violation of Intellectual Property.
Likewise, this ensures a high level of transparency as content developers retain 100% ownership of their work always.
What are the two types of NFTs sold on the Rarible clone script?
ERC-721 – It is an exclusive NFT standard issued on the Ethereum blockchain network in January 2018. Each crypto collectible sold on the Rarible clone contains a unique Token ID and a Token pair contract address.
The ERC-721 standard also contains separate functions for changing the total supply of tokens, knowing the token balance in an account, and transferring tokens from one account to another.
ERC-1155 – It is a multi-token standard built on the Ethereum blockchain network in June 2018. The Ethereum smart contract consists of a mix of Fungible tokens (FTs), Non-Fungible Tokens (NFTs), and Semi-Fungible Tokens (SFTs). All digital collectibles backed up by a token ID. It contains information about the unique attributes of the NFT, metadata, and total supply.
The ERC-1155 multi-token standard integrated with the Rarible clone script provides numerous benefits. Accordingly, buyers get advantages like an atomic swapping option, a decrease in transaction fees, easy transfer of multiple tokens simultaneously, and escrow protection.
The cost to create a Blockchain NFT like Rarible?
The total cost of Rarible clone script development depends on aspects like the choice of features, hourly charges paid to the blockchain and crypto developers, level of customization, the time taken for development, third-party API integration, and the type of tech stack.
Further, entrepreneurs have to bear more expenses for bug-fixing, maintenance, software updates, and technical support.
The Rarible NFT marketplace has performed impressively in 2021. It will aim to become a powerful Decentralized Autonomous Organization (DAO) in the future. Subsequently, more buyers will receive control and governance rights to vote on the different decisions for the development of the online platform.
The technology startup is aggressively expanding its business operations after receiving a mind-boggling $1.75 million in funds from investors in February 2021.
Hence, entrepreneurs can make a big impact in the fast-rising world of crypto collectibles now. Nonetheless, they can get the tailor-made Rarible clone from a reputed app development company and be a trendsetter in the market soon.
Read more: 3 NFTs Worth Investing In Right Now