Feb 9 | 5 min read
What is Rarible?
Who Created Rarible?
Governance & Tokenomics
Why is RARI included in MVI?
How can I gain exposure to Rarible?
What is MVI?
What is the Index Coop?
The Rarible token (RARI) is an ERC-20 token launched in 2021 and secured in the Ethereum blockchain. The token serves as a governance and utility token for Rarible’s Ethereum-based NFT marketplace. Holders of the governance token have the ability to affect Rarible's evolution. RARI token holders, for example, can propose and vote on changes to trading costs or new features, serve as community moderators, and curate artwork on the site. The Rarible token can also be earned by performing a variety of acts on the site, such as purchasing or selling works of art or collectibles.
The RARI token was created by the Rarible company, which was founded by Alex Salnikov and Alexei Falin and is based in Moscow. Salnikov has been working in the cryptocurrency space since 2013, while Falin previously co-founded a marketplace for digital stickers that can be used on social media sites. Rarible received its first round of funding in 2020 from CoinFund, a New York-based venture capital firm that has consistently invested in ideas that attempt to harness the potential of NFTs. The Rarible team launched the platform on the Ethereum Mainnet in 2019.
The inclusion of the RARI Token in the MVI is the result of the team’s careful analysis of the token’s utility and the crucial role that the token plays in the Metaverse. With the RARI token’s market capitalization of $71,367,193 (at the time of writing) and it’s inclusion in the Top Non-Fungible Tokens (NFT) Coins by Market Capitalization, RARI has maintained its liquidity and strong price history.A decentralized exchange is the backbone of the Rarible Protocol. The ability to split fees during the exchange process is one of the protocol's most powerful features, allowing for intriguing use cases such as co-creation of NFTs, monetization of applications built on top of the protocol, and even fee splitting to features used within an application.The Rarible protocol has also been audited by Chain Security and the audit report is available.
RARI holders can submit and vote on suggestions related to Rarible's trading costs, as well as Rarible features that the team is developing or implementing. The platform may also use governance to provide community-based moderation, allowing the community to collectively serve as curators on the site.
RARI is also used to reward Rarible users for buying and selling NFT’s on the platform. This is called marketplace liquidity mining. Over half of the RARI tokens total supply is set aside for Rarible marketplace merchants and buyers, who will get RARI through weekly distribution based on weekly purchases and sales volumes.
RARI has a total supply of $25,000,000. 60% of the total supply of RARI is reserved for the Rarible NFT Marketplace merchants, 30% is reserved for the Rarible investors and team, and 10% is reserved for Rarible users and all NFT holders.
Beginning in July of 2020, every Sunday 75,000 tokens are distributed to counter-parties who made a sale or a purchase on Rarible during the week. This issuance will take place for 200 consecutive weeks. buyers and sellers will receive equal shares of the $75,000 weekly RARI issuance.
The Metaverse Index is carefully designed to capture market defining trends in entertainment, sports and business that occur in virtual environments, commonly known as the metaverse. Rarible is an early entrant into the booming NFT space. The Rarible NFT marketplace has over 2.1 million monthly active users. Rarible has a trading volume of $237 million and over 400,000 NFT’s minted.
You can gain exposure to Rarible and other leading metaverse projects by buying MVI which includes RARI tokens. You can buy MVI directly from the Index Coop by connecting your wallet to the Index Coop app.
If you’re looking to exchange a fiat currency, like the U.S. dollar, directly for MVI, then you’ll want an Ethereum wallet like Argent, Metamask, or Rainbow. With each of these wallets, you can connect to your bank account or debit card, which allows you to exchange fiat currencies directly for Index Coop products like MVI.
The Metaverse Index (MVI) is a digital asset that currently tracks the performance of Non Fungible Tokens, Entertainment, Virtual Reality, Augmented Reality and Music assets across Ethereum. It combines the features of an ERC-20 token and a traditional structured product to capture the trend of entertainment, social activity and business moving to take place in virtual economies, powered by NFTs and blockchain technology. MVI is designed using uses a combination of root market cap and liquidity weighting based on the value of each token’s circulating supply and aims to track projects that have significant usage and show a commitment to ongoing maintenance and development.
The Index Coop is a decentralized autonomous organization (DAO) that creates decentralized financial products that unlock prosperity for everyone. We build simple yet powerful index products to provide access to a diverse portfolio of crypto themes and make it simple, safe and affordable to get started in decentralized finance.
How to buy Index Coop products with fiat currencies:
First, you’ll need to download one of the above apps. (Metamask also has a browser extension if you prefer not to use your mobile phone.)
Next, you’ll set up your new wallet and connect your bank account
Once you’ve deposited fiat currency in your wallet you can exchange it for Index Coop products like the Metaverse Index.
You can also buy RARI tokens directly via your favorite decentralized exchange.
Disclaimer: This content is for informational purposes only and should not be construed as legal, tax, investment, financial, or other advice.
Information is for educational and illustrative purposes only. The Index Cooperative is not engaged in the business of the offer, sale or trading of securities and does not provide legal, tax, or investment advice. Cryptocurrencies and other digital assets are speculative and involve a substantial degree of risk, including the risk of complete loss. There can be no assurance that any cryptocurrency, token, coin, or other crypto asset will be viable, liquid, or solvent.No Index Cooperative communication is intended to imply that any digital assets are low-risk or risk-free. The Index Cooperative works hard to provide accurate information on this website, but cannot guarantee all content is correct, complete, or updated.