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Rarible NFT marketplace upgrades to Rarible 2

21, October, 2022

in Latest NFT News

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Rarible NFT marketplace, built on Ethereum, has introduced its new version, called Rarible 2. It will feature a Web3 aggregation and an updated reward program for RARI DAO governance.

Web3 aggregator for NFT listings and prices

The aggregator will exhibit NFTs from all the major marketplaces. The newer version can also show prices from different platforms along with its own. This will work for all the Ethereum-based digital art pieces.

Notable marketplaces that will be part of this aggregator include OpenSea, X2Y2, Sudoswap, and LooksRare. This will assist collectors in reviewing the prices on multiple platforms and making the purchasing decision. Moreover, it does not charge any additional fees for aggregated listings.

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Upgrades to Rarible NFT marketplace rewards

Besides the Web3 aggregation, the platform is also changing its rewarding program. The platform's RARI tokens will be used to give new DAO governance incentives to the holders. Now, the Rarible NFT platform will allow users to lock the tokens and earn rewards against them.

It will give the governance rights of the RARI Foundation to the RARI holders and allow complete decentralisation. Along with that, it will help users to make good profits. Users can also get rewards from buying and listing.

Competition among major marketplaces

It is not the first instance where a platform has introduced Web3 aggregation features. OpenSea and Uniswap also launched a similar feature last year. Now, Rarible2 has also featured it to counter other platforms.

But the unique thing about Rarible2 is that it developed an NFT showcasing model based on the aggregator. In comparison, other marketplaces have some limitations as they use external aggregating tools.

Its new version is looking to get an edge over other platforms in decentralisation. The dominating digital art markets like OpenSea and MagicEden are often accused of a centralised ecosystem.

That’s why the RARI Foundation has improved its governance model by giving more authority to the token holders. The co-founder and chief strategy officer, Alex Salnikov, also mentioned that “[the users] have a say in Rarible’s future".

As users can participate in the DAO, they will be able to vote for crucial decisions within the ecosystem.

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Author: Wasay Ali

Author: Wasay Ali

Wasay Ali is a versatile professional writer with global experience and a background in mechanical engineering and social science. He is adept at crafting news and informational content for the crypto space and has experience writing for other niches. He is a professional SEO content writer who has worked with several digital marketing agencies and clients in the US, UK, Pakistan, and Europe. He is a dedicated volunteer and enjoys reading, writing, poetry, and going to the gym. He is an INFJ-A personality type dedicated to positively impacting the world. Wasay has a passion for writing as it allows him to express his creativity, share his knowledge, and connect with people worldwide.

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