- The new aggregated marketplace by Rarible is its response to a changing NFT market.
- The recent aggregation feature will offer prices and listings of Ethereum NFTs that are listed on key NFT marketplaces throughout Web3.
- The idea behind NFT aggregation is Rarible’s urge to have more users, collectibles and liquidity to its platform.
On October 20, Rarible announced upgrading its platform to Rarible 2. The marketplace has shared that it is coming up with new aggregation tools to display non-fungible tokens from throughout the Web3 world. Having said that, users can browse as well as buy digital assets based on Ethereum from Sudoswap, LooksRare, Rarible, X2Y2 and OpenSea.
Chief Strategy Officer and Co-founder of Rarible, Alex Salnikov, said the current NFT platforms are “siloed” and changing them needs aggregation.
He further said:
It creates an open environment where users can access the best prices for NFTs all through one interface.
News about the development has come after a report from DappRadar that indicated the forthcoming NFT “marketplace wars.” The report mentioned several other key platforms in Web3 like OpenSea and Uniswap. Both these marketplaces have owned NFT aggregator platforms earlier this year. However, Rarible has transformed its solutions to a model based on aggregation.
According to the report, these acquisitions can lead to competition among platforms.
Rarible has released a mechanism that allows users to lock Rarible’s native token, RARI, to earn incentives and rewards for ecosystem participation. Salnikov believes it to be a step to even more decentralization of the platform.
He added that users can make decisions regarding where the ecosystem will move next. They have things to say regarding Rarible’s future and it is not possible only through NFT or funds.
NFT marketplaces’ decentralization is a relevant discussion in the community of Web3. A number of people have called out market leaders such as OpenSea for being extremely centralized.
Earlier in 2022, researchers saved Rarible from a potential key security breach. Researchers at Check Point, a cybersecurity software firm, noted a vulnerability in Rarible. The vulnerability could have cost NFTs to over 2 million monthly users in just one transaction.
Meanwhile, a day before, OpenSea launched a new analytics tab on collection pages to browse trends & metrics.