SNEAK PEEK
- RARI Chain’s creator-centric approach guarantees fair royalties, reshaping NFT economics.
- Rarible’s stance on creator rights led to a 637% trading volume surge within 24 hours.
- The partnership with Arbitrum, LayerZero, and WalletConnect strengthens RARI Chain’s commitment to ensuring fair compensation.
The RARI Foundation recently unveiled an Ethereum Virtual Machine (EVM)-compatible blockchain named RARI Chain. This chain uniquely embeds royalties into its nodes. Consequently, it offers an NFT infrastructure solution built on Arbitrum. Moreover, this innovation ensures that creators receive the royalties due to them, solidifying their success in the digital realm.
Significantly, the introduction of the RARI Chain follows Rarible’s impressive trading volume surge. This uptick occurred after Rarible’s firm stance on maintaining creator royalties in August. They excluded marketplaces like OpenSea and Blur.io from their data aggregation for not supporting these royalties. This move reflects Rarible’s dedication to creator rights and has led to a 637% increase in trading volume within 24 hours, as reported by DappRadar.
1/ Following @rarible's decision to maintain creator royalties, and remove both @opensea and @blur_io from their aggregation data, Rarible's trading volume is up 637% in the past 24h.
Do you think Rarible is right? 🤔
View @rarible on DappRadar 👇https://t.co/9hh0AQa7Nj pic.twitter.com/cg1dPChYar
— DappRadar (@DappRadar) August 23, 2023
Moreover, the RARI Chain is not just another blockchain solution. It represents a pivotal shift in how creators’ earnings are protected in the Web3 ecosystem. Alex Salnikov, co-founder of Rarible, emphasizes the need for a “creator-centric ecosystem.” He asserts that embedding royalties at the node level isn’t just a promise but a guarantee of creator earnings. This approach ensures a sustainable economy for digital creators.
Additionally, the RARI Foundation’s partnership with key players like Arbitrum, LayerZero, and WalletConnect substantially supports the new chain. From the Arbitrum Foundation, Nina Rong highlights the importance of fair compensation for creators. She points out that enforcing royalties at the node level advances this goal.
Imagine a lighting-fast chain where royalties are always guaranteed, with low and predictable costs, and Ethereum-grade security.
Introducing RARI Chain: the chain that always puts creators first👇 pic.twitter.com/EELDilSXrI
— RARI Foundation (@rarifoundation) November 30, 2023
However, this is about more than just technology. It’s about reshaping the digital landscape to favor creators. The RARI Chain stands as a testament to the potential of blockchain technology in protecting the interests of digital artists and creators. It marks a significant stride in preventing the disintermediation of creators from the burgeoning growth of Web3.
The RARI Foundation’s latest initiative with RARI Chain brings a new era in NFT trading and creator compensation. By embedding royalties into the blockchain nodes, they ensure creators are fairly rewarded. Hence, this development is a technological advancement and a cultural shift towards a more equitable digital economy.
