Through the course of this article, we will understand all about the Rarible token and the steps on how to buy this token.
The surge of many cryptocurrencies in recent times has drawn the attention and interest of investors and users to this revolutionary form of transaction, exchange, and trade in the world of digital finance.
Many cryptos have grown exponentially in the crypto space, from meme tokens including Dogecoin and Shiba Inu to others like the WAXP, which is an NFT coin, to even other solid networks like the Solana project, which saw a significant leap in recent times, all these token have made cryptocurrency very popular in the world today.
Investors and crypto users need to understand any token they choose for their investment. This would help them make the best decision when putting their funds into these tokens and avoid running into scam tokens present in today’s coin market.
The Rarible token is another token in the coin market which has grown significantly in recent times, given its increase in transfers and number of holders, and even price in the coin market.
What is Rarible Token?
The Rarible platform is an NFT marketplace, where users and creators can create various Non-Fungible Tokens and post them on the platform.
Here is some basic information that crypto users and NFT enthusiasts, and investors need to understand about the Rarible platform and token:
- The Rarible platform focuses on having a useable NFT marketplace where users and contents creators can easily create NFT, giving users a smooth experience.
- This Non-fungible tokens that users can create can range from digital artworks to games and even digital sound and music.
- The Rarible coin is a token used to reward users and creators on the Rarible Marketplace platform just for using the platform. The token also serves as a means for these users to be part of significant decisions taken concerning the platform’s governance.
- The Rarible token runs on the Ethereum network, making it an ERC-20 token which is a strong token in the crypto space.
This is some basic information regarding the Rarible token investors, and crypto users need to understand for an informed decision in their investment.
Rarible Token Tokenomics and Market Capitalization
The tokenomics of any token plays a major role in the performance of such tokens on the coin market. These are the properties of the coin or token, which determine how investors perceive the token.
Therefore, investors and interested crypto users need to understand the basic tokenomics of any coin they choose for their investment.
Here is the basic tokenomics information of the Rarible token:
- There is a total supply of 25 Million Rarible tokens in the coin market with a circulating supply of a little over 5 Million Rarible tokens.
- 60% of the token is kept for the buyers and sellers using the Rarible NFT marketplace.
- Another 75,000 Rartible Tokens are shared among creators on the Rarible platform and collectors, with each receiving 50% of each of the stipulated Rarible tokens. The platform calls this “Marketplace Liquidity Mining.”
- 10% of the total supply of the Rarible token is used for airdrop purposes. 8% goes to Non-Fungible token holders, and the other 2% goes to the Rarible platform users.
- Then lastly, 30% of the token will be slowly distributed to users and investors of the token and go to the Rarible project team.
This is the tokenomics of the Rarible coin important for investors and crypto users’ knowledge.
Price and Contract Address of the Rarible Token
As of the time of writing this article, t price of the Rarible token has increased significantly, and its number of holders has also increased.
Though there has been a significant dip in the crypto space in recent times, price prediction shows the Rarible token will grow even more in price shortly.
As of the time of writing this article, the Rarible Token RARI is $13.19. And its contract address – 0xfca59cd816ab1ead66534d82bc21e7515ce441cf.
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How and Where to Buy the Rarible Token Step-by-Step Guide
The Rarible token has been listed on several major exchanges, including Crypto.com Exchange, Coinbase Exchange, HitBTC, and Gate.io.
The coin can still be purchased using a decentralized exchange platform called the Uniswap Exchange.
Here is a simple guide on how interested users and crypto investors can buy and hold the Rarible coin RARI:
- Users can go to major exchanges, including the Binance exchange platform and Coinbase platform, to purchase Ethereum since the Rarible token runs on the Ethereum network. This is the cryptocurrency that can be used to purchase the RARI.
- Once successfully purchased, withdraw the Ethereum to the Trust Wallet platform and navigate to the dApps section on the Trust Wallet platform.
- Scroll down to the decentralized exchange DEX segment and open up the Uniswap exchange platform, as this is where the transaction will take place.
- On the “From” button, input the number of Ethereum needed for the transaction, dependent on the user’s choice.
- On the “To” button, select the Rarible token from the list of tokens and coins shown. Suppose the Rarible token is not shown on the list. In that case, the user can go to the CoinMarketCap platform and copy the original contract address of the Rarible token RARI and paste it on the search bar of the Tryst Wallet platform to import the Rarible token.
- Once done, the user can go ahead to hit the “Swap” button, and this will automatically exchange the Ethereum for the Rarible token RARI and store it in the user’s wallet.
This simple guide will help users purchase and hold the Rarible token with no hassles.
Is Rarible Token a good investment?
With its market surge in percentage and its increased number of users and investors, the Rarible token is proving to be a significant force in the world of cryptocurrency.
The Rarible NFT marketplace platform also plays a significant role in the strength of this token as it is a strong NFT creator platform with many users already.
Interested investors and crypto users need to do primary research before investing their funds into any crypto token. This would help them make the best decision and help them avoid running into scam tokens in the crypto market.
What is your view on the Rarible coin and its prediction going into the future? Share your views and ideas using the comment section.