Rarible is a marketplace where NFT content can be freely bought and sold, but at the same time NFTs can be created.
Moreover, the fact that there is no gas cost to create (passed on to the buyer) has made it so well-known that it rivals the largest NFT marketplace, OpenSea.
Just ask yourself, “What makes Rarible unique?” Is the process of getting started the same as other marketplaces?” It is also true that there is still not that much information in Japanese to answer questions such as “What are the features of Rarible?
This section provides a thorough explanation of Rarible, including how to use it.
From beginners to advanced users, this is a must-know marketplace for anyone doing NFT.
What is the Rarible NFT marketplace?
Rarible is a high-profile NFT market that is currently experiencing rapid growth.
Rarible, which has become a global household name, has three main features
- Freemint
- RARI, a proprietary token
- Credit card payment support
Each of these is explained in detail.
1. freemint
Firstly, Rarible does not charge for gas to issue NFTs.
When considering sales, this is a nice mechanism in the current situation where the cost of gas for Ethereum is rising.
The NFTs are minted at the time of purchase and paid for by the buyer.
2. proprietary token RARI
Rarible issues its own token, RARI, which is a governance token used to vote on how to run Rarible and to decide which works to push on Rarible.
As awareness rises and the number of users increases, so does its value.
There is a first-mover advantage, so you need to get involved as soon as possible.
3.Credit card payment supported
Another key feature is the ability to support credit card payments (VISA, Mastercard) for NFT purchases. Many marketplaces do not accept Japanese credit cards and only accept cryptocurrency payments, which tends to limit the number of users.
This is great for users who purchase, and the more users there are, the more the market expands, which is an advantage for sellers.
How to register and get started with Rarible, with images
To register with Rarible, you will need
- Wallet
- Virtual currency or cash
- Artwork (if you are exhibiting)
If you want to deal with NFTs, Metamask is the most major application, so make sure you keep it in mind.
If you have not yet registered for MetaMask, please refer to the article below, which explains how to register.
Want to start NFT, but don't know how to set up MetaMask... We’ll start an explanation for it! For those who are int[…]
Once you have prepared the above, go to the official website and click on ‘Sign in’ in the top right-hand corner.
When signing in, choose your preference from the following.
- Ethereum
- Flow
- Tezos
- Polygon
Ethereum has the largest market, but commissions are higher, while Flow and Polygon offer low-cost trading, but smaller markets.
Tezos also has a smaller market than Ethereum and not as many participants, but there are NFT projects such as ‘tzcolor’, which NFTs the colour, which is good news. There are also some interesting aspects, such as the soaring prices.
Then select the wallet to connect to.
- Metamask
- Torus
- Mobile Wallet
- Portis
- Coinbase
- MyEtherWallet
- Formatic
In this case, the most commonly used Metamask is selected.
A pop-up screen will appear.
- Are you 13 years of age or older?
- Do you agree to Rarible’s terms and conditions?
Check both boxes and click ‘Proceed’.
This completes the account creation.
Once you have successfully created your account, you will see an icon in the top right-hand corner, click on it.
You will see your account information as follows.
How to use Rarible? Explained with images
Rarible is mainly used in the following ways
- Search
- Purchase
- Create
- Sell
- Acquiring RARI
Let’s start with the search first.
1. search
If you are new to NFT content, you may not know what to buy. First, you need to research what NFT content is available.
There are two ways to research in Rarible
- Explore
- Search bar
First, to search in Explore, click on ‘Explore’ from the home page.
A list of supported chains is displayed, so select the one you want.
- All (all chains)
- Ethereum
- Flow
- Tezos
- Polygon
In this case, select Ethereum.
On the page filtered by chain, you can further refine your search by
- Category
- Collectons
- On sale (Sale type)
- Price range
You can also sort the displayed works by date added or by price by clicking on ‘Filter & Sort’ on the right-hand side of the category selection bar.
Then, to search for artworks using the search bar, enter the name of the item you are interested in or the name of your favourite artist in the search bar.
The search results can be switched to display by the following categories
- Collections
- Items
- Users
Find the collections you are looking for by switching to a more convenient view.
2. purchase
The next step is to purchase NFTs.
Rarible offers three different ways to buy NFTs
- Buy for ~.
- Place a bid
- Timed auction
Each of these is explained in detail.
Buy for ~
‘Buy for ~’ and ‘Place a bid’ are displayed at the bottom right-hand side of the screen that appears when you click on the piece you want to buy. Buy for ~” means that you buy the item at the amount the seller has decided (0.001 ETH in this image).
In this case, click ‘Buy for ~’.
The following Checkout screen will then pop up. 2.5% of the purchase price will be added as a commission, so check it and press ‘Proceed to payment’ to start Metamask.
Sign and if the transaction goes through, the purchase is complete.
Place a bid
Place a bid” is where you place a bid and the seller accepts it.
To use the ‘Place a bid’ function, enter the amount you wish to purchase and click ‘Place a bid’.
A commission of 2.5% of the purchase price will be added, but if the seller accepts, the purchase will be completed immediately.
Timed auction
Finally, there is the timed auction format.
On the auction screen, above the button ‘Place a bid’, you will see the statements ‘Highest bid by~’ and ‘Auction ends in~’. They have the following meanings respectively.
| Display item | Description |
| Highest bid by~ | Highest bid to date |
| Auction ends in~ | Countdown to the end of the auction |
Click on ‘Place a bid’ to enter the amount you wish to purchase.
A service charge of 2.5% of the amount will be added to the amount, so enter the amount with this in mind and submit.
Wait until the end of the auction, and if no higher bidder appears, you win the auction.
Even if a higher bidder appears, it is possible to bid again, so if you really want to win the auction, it is best to check the auction several times within the time frame.
3. creation
Next, creation is explained.
The advantage of the Rarible is that it is freeminted and no gas costs are involved in the creation of the NFT.
The creation procedure is also simple.
First, click on ‘Create’ in the top right-hand corner of the home page.
Select the chain you want to link to.
In this case, select Ethereum.
Then select Single or Multiple.
| Display item | Description |
| Single | Single item issued |
| Multiple | Publish copy(s) |
Select Single in this case.
Enter the settings for minting as they are displayed.
| Display item | Description |
| Choose Wallet | Normally the connected wallet is automatically displayed. |
| Upload file | You can upload your content. |
| Put on marketplace | Whether or not to list immediately after creation |
| Price | Amount |
| Unlocked once purchased | Additional content or not |
| Choose collection | Common contract or not |
| Name | Name |
| Description | Description |
| Royalties | Percentage of royalties on secondary sales |
In addition, remember to switch on “Free minting” when free minting.
Pressing ‘Show advanced settings’ adds two.
| Display item | Description |
| Properties | Specific information identifying the NFT |
| Alternative text for NFT | Alternative text information attached to the NFT |
Optional, but to be completed if required.
Try issuing an NFT with a dog image as a trial. Fill in each setting item and click ‘Create item’
Metamask will start up, so just Sign and that’s it.
This time, ‘Put on marketplace’ is switched on, so you can create and display your items at the same time.
Completed NFTs can be found on their own profile.
4. sales
The method to start selling NFTs at the same time as they are created has been introduced earlier.
In this article, we will explain how to sell NFTs that you own in advance.
Click on the account icon (next to Telegram) from the home page.
Click on ‘View profile’.
‘Owend’ to display the NFTs in your possession, then click on the NFT you want to sell.
Click on ‘Put on sale’.
Select the sales format.
| Display item | Description |
| Fixed price | Fixed price |
| Open for bids | Bidding format |
| Timed auction | Timed auction |
Once you have set the selling price etc., Metamask will start and you can complete the transaction through.
5. how to acquire RARI
RARI tokens used to be distributed for free under certain conditions.
However, it ended on 16 January 2022 by unanimous consent of the Rarible DAO and can now only be purchased on the DEX.
Therefore, you can only claim unclaimed RARI on Rarible.
Scroll down on the home page and click on ‘RARI Token’.
You can Claim if an unclaimed amount exists, but be aware that you will need to pay ETH for the fee.
The handling of RARI tokens may change in the future. Check the official page and discord frequently.
Points to note about Rarible
NFT and DeFi are complex systems, and it is possible to “actually lose money” if you use them in a haphazard way. For this reason, here are four final points to note about Rarible.
1. when gas charges are incurred
In some cases, such as when NFTs are issued, purchased or tendered, gas costs are incurred. Although this is a necessary expense, gas prices have been rising in recent years and unexpected losses may occur. Be sure to check.
Note that Metamask is always triggered when gas costs are incurred.
Please be assured that the transaction will not go through as long as you do not approve it.
2. commission fees
Rarible adds a 2.5% commission when users sell, bid or buy NFTs. Credit card payments are charged at 3%. Therefore, calculate your costs including commissions.
3. contract standards
When creating an NFT with Rarible, you can choose between two different contract standards: ‘own collection’ or ‘Rarible collection’.
Proprietary collections incur additional gas charges, but the name displayed in other marketplaces will be the name you set yourself.
On the other hand, Rarible collections may be created and sold gas free, but will be displayed as Rarible in other marketplaces.
4. fraud
Although not limited to Rarible, there have been a number of cases of plagiarised works being listed on the marketplace. Naturally, you should refrain from selling or buying plagiarised works.
There have also been cases where a product has been marketed with the same icon as an in-game item, when in fact it is a mere image with no value whatsoever.
Keep in mind that anyone can buy and sell on the marketplace, for better or worse, so scammers can be in the mix. Careful research is particularly important when dealing with high value NFTs.
Rarible is attractive due to its large market size and free gas prices
The above has explained how to get started with Rarible and how to use it.
Rarible is as well-known as OpenSea and has a growing user base, and as more and more people join, the gas-free NFT trading will become a major feature of Rarible.
Please check the official information below daily for updates and events.
The NFT market is expected to expand further in the future.
The real appeal of NFT is not just seeing and buying, but also creating. Try Rarible for a start.
