In an innovative move at the intersection of NFT technology and blockchain innovation, the RARI Foundation of Rarible has introduced the test network for RARI Chain, a cutting-edge blockchain compatible with Ethereum Virtual Machine (EVM) and with integrated node-level royalties with Arbitrum.
This strategic integration with Arbitrum lays the foundation for a transformative change in the NFT landscape, promising greater empowerment for creators and sustainable economic models.
The RARI Foundation of Rarible NFT integrates Arbitrum for the EVM chain embedded in royalties
Rarible, one of the main players in the NFT market, has strengthened its commitment to NFT royalties by introducing a testnet for the RARI Chain. Developed by the RARI Foundation, the non-profit arm of the Rarible ecosystem, this Ethereum Virtual Machine (EVM) compatible blockchain introduces an innovative approach with integrated node-level royalties.
The RARI chain, built on Arbitrum, represents an innovative infrastructure solution for non-fungible tokens (NFTs).
By incorporating royalties at the node level, the RARI Foundation aims to provide creators with essential tools for success in the thriving landscape of NFTs.
Rarible’s strategic move aligns with a significant surge in trading volume, attributed to the platform’s strong commitment to royalties. Recent data indicates a remarkable 585% increase in Rarible’s trading volume within 24 hours after removing non-royalty supporting marketplaces from its aggregation data and implementing royalties.
Insights on Rarible and the RARI Foundation
Jana Bertram, responsible for the strategy of the RARI Foundation, emphasizes the fundamental role of creators in advancing the NFT space.
Bertram states that in order to promote a sustainable economy, it is necessary to provide creators with tools and environments that are conducive to their success.
The commitment to prevent the disintermediation of creators from the growth of Web3 is deeply rooted in the mission of the RARI Foundation.
The co-founder of Rarible, Alex Salnikov, envisions Web3 as a “creator-centric ecosystem,” stating that the RARI Chain is a strategic move to safeguard creators’ earnings.
Salnikov emphasizes the importance of enforcing royalties at the node level, turning promises into guarantees and ensuring creators receive the compensation they are due.
The announcement highlights collaborative efforts, with key partners such as Arbitrum, LayerZero, WalletConnect, and others actively contributing to support the RARI chain.
Nina Rong, responsible for ecosystem development at the Arbitrum Foundation, emphasizes the importance of fairly rewarding creators for their efforts. The application of node-level royalties is hailed as a substantial step towards achieving this goal.
The collaborative support of industry leaders such as Arbitrum, LayerZero, and WalletConnect lends credibility to Rarible’s vision. The active involvement of these partners reinforces the idea that RARI Chain is not just a standalone initiative, but a concerted effort to shape the future of NFTs and blockchain technology.
Nina Rong of the Arbitrum Foundation states the need for creators to be “fairly rewarded”, emphasizing the fundamental role of applying royalties at the node level. This approach ensures that the value generated by creators is not diluted, promoting a more sustainable and equitable ecosystem for artists and content creators.
The strategic choice of the famous NFT company in integrating Arbitrum and
Regarding the technical complexities of RARI Chain, integration with Arbitrum is a strategic choice. Arbitrum, known for its layer 2 scaling solutions on Ethereum, brings scalability and efficiency to RARI Chain.
This integration allows seamless interoperability with the broader Ethereum ecosystem, while also addressing issues related to transaction costs and throughput.
The involvement of LayerZero further enhances the technical robustness of RARI Chain. As a layer 1 blockchain protocol, LayerZero contributes to the overall performance and security of the network.
The synergy between Arbitrum and LayerZero creates a formidable foundation for RARI Chain to thrive in the competitive landscape of blockchain solutions.
The emphasis of RARI Chain on the creator is reflected in its user-centered design. By incorporating royalties at the node level, the platform ensures that creators receive their fair compensation directly and transparently.
This move is not only in line with the principles of decentralization, but also instills trust in creators, fostering a sense of trust and security in the NFT ecosystem.
The statement by Alex Salnikov, that RARI Chain safeguards the earnings of creators, resonates with the broader ethics of Web3.
In a landscape where decentralization and empowerment are fundamental, Rarible’s commitment to protecting creators of disintermediation sets a standard that others must emulate.
As the Web3 narrative continues to unfold, solutions like RARI Chain contribute to the maturation of blockchain technology beyond speculative trends.
Conclusions and future implications
The release of the RARI Chain testnet marks a crucial moment in the evolution of the NFT infrastructure. In the future, the industry will closely observe the platform’s performance, adoption rate, and the impact it will have on empowering creators.
The success of RARI Chain could potentially influence the direction of future blockchain projects, inspiring a shift towards more inclusive and creator-friendly models.
The RARI Foundation of Rarible, with the launch of the RARI Chain on Arbitrum, emphasizes its commitment to innovation and values centered around creators.
As the NFT landscape continues to evolve, the integration of node-level royalties and collaborative industry support position Rarible as a pioneer in the search for a sustainable and fair NFT ecosystem. The coming months will certainly shed light on the real impact of the RARI Chain and its contribution to shaping the future of decentralized technologies.
