Rarible Launches Game-Changing Protocol for NFT Economy

Announcements, Blockchain, News | August 16, 2021 By:

NFT marketplace Rarible announced the launch of the Rarible Protocol, a public set of open-source tools designed to lift liquidity barriers and drastically simplify the go-to-market process for NFT developers and businesses. Notably, the protocol eliminates the need for all back-end technology development when bringing NFT ideas to fruition.

This beneficial tech stack provides immediate access to highly sought-after ecommerce features, enabling crypto developers of all levels to easily deploy customized NFT storefronts and marketplaces. Designed to do all the heavy lifting, the Rarible Protocol enables the minting, exchange and indexing of NFTs.

“Our team experienced the tedious and challenging process of developing optimal marketplace technology from the ground-up, which inspired us to share our innovative tech stack that enables crypto novice and crypto-native developers alike to easily deploy custom storefronts easily,” said Alexander Salnikov, co-founder and head of product at Rarible. “The Protocol does almost all the work, so developers can now proliferate the type of front-end NFT project they dream of across markets, without all of the back-end heavy lifting.”

Dedicated to a community-driven network, the Rarible Protocol is governed by the Rarible Decentralized Autonomous Organization (DAO), composed of valuable community members — from developers to thought leaders — that hold protocol ownership and decision-making rights. DAO members are committed to supporting protocol developers by allocating funding grants of up to $100,000 to new NFT projects, ideas and features in the near-term.

The Rarible marketplace has successfully migrated to the protocol, joining 20 additional projects building applications including Reaction$, CocoNFT, DAOhaus, MintGate, Ownerfy, Cyber, Footium, NFP, Vertex, Mintdrop, Zerion, Genies, Decentraland, Rarepress, and BlockEx.

“The Rarible Protocol is blazing a path to become a powerful DAPP interface to the NFT ecosystem. It sets a robust open standard for NFT creation and transactions, allowing cross-pollination of NFT services across the metaverse,” said Jonathan Dunlap, founder and CEO of MintGate.