Rarible is a popular marketplace to create, buy and sell all your digital artwork. It was started in early 2020. These digital artworks, also called NFTs, mean Non-Fungible Tokens. It can be anything like photos, videos, art, collectible cards, etc. In particular, Rarible focuses on NFT art assets. The notable feature of this Rarible platform is it gives you previews of content in the format of previews, trailers, or snippets. Rarible has its token named RARI, and the platform is almost entirely autonomous. You can vote for the platform’s development if you’re holding assets here.
Highlights of the Rarible Platform
The following four features are the unique and popular features provided by Rarible to its customers, irrespective of the price.
Create NFTs for free
Do you want to mint on Rarible without paying a gas price? Yes, you can create your NFTs for free in two ways.
Lazy Minting on Ethereum
The Rarible coders implemented lazy Minting. Without the blockchain’s involvement, you can mint a token in the Rarible platform. In contrast, whoever makes an action on your NFT, either buy or transfer, will first pay the gas fee. It means that your customers will charge an extra amount. However, Rarible expects and recommends using this Lazy Minting only for the first few NFTs on Ethereum.
Rarible Pros
- It is an all-in-one marketplace where you can buy or sell NFTs and create your NFT from your digital content.
- You are allowed to alter the price, even if you’ve already created or listed your content on Rarible. It costs free and can be done at any time.
- Even if you think the cost of your listed item is too high, you can bid on it.
- Since Rarible is integrated with OpenSea, your items are also viewed on OpenSea. It’s another famous and huge followers-owned Marketplace.
- The royalty system allows content owners to make money from their sold NFTs.
- Besides the ETH wallet, Rarible offers to pay with your debit card, credit card, and even Google Pay.
- You can connect your existing wallet to the Rarible, rather than create your account. Your existing wallet should be one of the following; Coinbase, MyEtherWallet, Torus, Portis, Wallet Connect, or Fortmatic.
- With the ability of verification and reporting by the artists, Rarible provides secure and protected services for their custom items.
- Rarible provides the RARI to NFT sellers and buyers and the voting rights, which can affect the platform and other powers.
- Rarible has social media platforms like Twitter, Instagram, YouTube, Telegram, Discord, and Medium.
Rarible Cons
- For the major utilization of the Rarible platform, you need to connect your wallet to Rarible.
- It charges 2.5% of the total transaction amount from both sides, i.e., the seller and the buyer.
- You can perform the deposit and withdrawal options without an ETH crypto wallet.
- It takes time and knowledge to create your wallet with Rarible.
Steps to create an account on Rarible
Whether a creator or a collector, you need to verify your account on Rarible.
Step 1: Click Sign in
Visit the Rarible website.
Find and click on the Sign-in button at the page’s top right corner.
Step 2: Select your wallet
Any supported cryptocurrency wallet can be used to sign in, including MetaMask, Torus, Coinbase, Mobile Wallet, Beacon, Blocto, etc.
We explain with the MetaMask, one of the most used wallets.
Clicking Sign in with Metamask must be done after clicking the Sign-in button.
A connection request will be sent from your MetaMask wallet once you click the MetaMask wallet. Confirm the connection.
You can connect with your Tezos or Flow wallets by clicking the respective tabs.
Step 3: Accept the terms and conditions
The Rarible Terms of Service window will appear immediately after signing in. Make sure you read the terms and conditions, then check the two boxes.
Once you’re done, click Proceed. You are now logged in to Rarible.
Note: Rarible is accessible only to users 13 years or older.
Step 4: Create your profile
You need to set up your profile once you’ve signed into Rarible.
You can do this by clicking on the profile icon in the top right corner of the page.
After clicking Edit profile, you will be able to access your profile.
You then need to fill out the required details, such as display name, custom URL, Twitter profile link, email, and personal or portfolio site.
You should update your profile picture.
Step 5: Click the update profile button
Click Update profile when you’re finished filling out all the details.
Ensure that you have updated your profile before clicking Get verified.
The wallet will contain a signature request once you click Update profile. Click the Sign button to send it.
Rarible Verification Guide
What does Rarible verified mean?
The verified badge will be awarded to creators and collectors who can demonstrate active dedication and high authenticity. In other words, it’s not a judging instrument; if you meet all the criteria, you’re awarded the badge!
Multiple factors are considered, such as an active presence and following on social media, interactions with community members, and the number of items minted and sold.
How to Get Verified on Rarible
Get verified by clicking the get verified button.
On the Edit profile page, you can click the Get verified button after you have filled out your bio, linked your Twitter account, and uploaded a photo. You can increase your chances of being verified by including your bio, linking your Twitter account, and setting a profile picture.
Your online presence can be showcased through this form, where you submit links to social media sites, your wallet address in connection with your Rarible account, your answers to questions on ‘About Yourself,’ and your methods of creating art.
Note: To qualify as a creator, you must have owned several NFTs previously created by other users.
There can be a mixture of verified and unverified items, but verifiable items should be given more weight. Rarible requires that you have minted at least one item before applying to be a creator.
You must be aware that getting the verification checkmark does not guarantee your success on the market. Being the next big CryptoArtist (or collector) is only one step in a long and difficult process.
Why the Verified Checkmark is Important on Rarible
Items verified will appear at the top of the search results. In the case of Rarible, their leaderboards will show only verified collectors/creators. In this way, Rarible preserves and promotes the authenticity of the items and profiles.
How to Follow your favorite users on Rarible?
There are many NFTs creators on Rarible, and nobody can manage all those collections daily. It’s overwhelming to note all users and their creations.
It is solved by using the following feature and the following view screen. Do it as we guided below;
Once you view the profile of your favorite collectors/artists/friends on Rarible, you can see the following button. Click on it to follow.
Then to view all your followers, go to the home page and click the following tab to view all. You can see only their activities. This way, you can efficiently manage all your required users on Rarible.
How can you collect Royalties for your collection?
Have you created your collection other than Rarible? Even then, you can own it and earn royalties for your collection on Rarible Marketplace. Use the guide below, as we mentioned.
On your home screen, click the three dots and select the claim ownership button. You will get a success message, provided you’re signed in to the right wallet. Now you can control your collections by adding a description, uploading a profile picture, setting royalties, and more options.
Moreover, on royalties, you can create split royalties. With that, you can provide a community vault, and team members and, in turn, collaborate their fair share.
Rarible Selling and Bidding Guide
How to do Bidding on Rarible?
Before introducing the bidding process on Rarible, they used to sell the NFTs through a price-point model. Bidding means the content holder or creator of the NFT can list it on the Marketplace and provide the amount of ETH they require for selling it. With this, the platform can decide according to the buyer’s amount. The best example is online-shopping platforms, where we cannot negotiate the provided amount.
It enables the holders to get benefits with at least a minimal amount as they provide. Based on the content quality, the cost of bidding can be increased.
Once the buyer gives their Bid, as a seller, you have to accept it or reject the offer within a limited time. Accepting the offers carries in two steps, as mentioned below.
- The platform tells you that a 2.5% amount will be taken from the sale amount as a commission.
- Next, the seller will be asked to pay the variable gas fee.
Make sure that you have sufficient funds in your wallet to pay these fees. Since Rarible uses the Ethereum blockchain, those fees are unavoidable. Considering these points, it is advisable to provide the minimum bid amount covering at least the gas cost required during transactions.
Steps to bid on Rarible
Due to the involvement of NFT and blockchain technology, the process of bidding may take time to do. The following procedure will help you understand the process and carry it through.
- To create a Metamask wallet:
Creating a MetaMask wallet starts by downloading the browser extension. Click here to download.
After downloading, you can see its logo on the extension panel. Once you click on this, it requests you to agree to their terms and conditions. Then start by setting a password; with this, you create your digital wallet on Metamask.
- To link Metamask with Rarible:
Once the wallet is created, you have to integrate it with Rarible. To do it, click on the “Connect Wallet” on the top right side. Rarible will detect the Metamask extension on your system. Now, click “approve” to finish the link of Metamask with Rarible.
- To Browse the Marketplace:
This step is up to you. On the Rarible Marketplace, you can look for the artwork you like. Moreover, here you can use the search box if you have any content in your mind.
- To Ensure the wallet is funded or not?
Before your transaction, you must check whether you have an adequate balance in your wallet. To do that, click on the Metamask icon and select “Add Funds.”
Now you can check your balance. Also, remember that, during your transaction, some of the gas will be deducted from your wallet balance. So make sure you have enough of the wallet.
- To place the Bid:
Now, press the button “Place Bid” and enter your offer. By contacting the seller, canceling your Bid is possible, but it is not guaranteed. Because of this, you only place bids on items you require and the bid amount you want to earn.
- To wait for the buyers:
As you own your digital product and after placing the Bid, you have to wait for your buyers. Based on your content quality and demand, your buyers either accept or reject it. If any accept your Bid, you will get a notification from Metamask.
Gas fees are an important factor when it comes to bidding in Rarible. So it is recommended that you bid with the minimum amount that covers the gas fees. The conversion of ETH to wETH is also involved in that fee. Always ensure that your wallet has a sufficient amount to cover all those fees before bidding on the amount.
Three options when you press Sell
- Fixed price: If you want to sell your NFT on the market at a fixed price, you can select this option. So that anyone can buy it, say, who comes first gets that NFT.
- Timed auction: This is the option to sell your NFT to the highest bidder. You can set the starting and ending times for the auction. You can also provide the bid amount to ensure your NFT is not sold cheaply. Rarible extended your auction time by 10 minutes to get the possible highest price. This happens only if a bid happens in the last 10 minutes of your auction.
- Open auction: This option is used to open your content for bids. So that anyone can make you an offer at any time they want. It’s your choice whether to accept or decline the offers you get.
NFT Promotion on Rarible Guide
Why should we promote our NFTs on Rarible?
The main three reasons on which artists or creators focus are;
- To make money
- To gain more attention for their art
- To maintain the trend
By promoting your art, you can increase the attraction of many people to your content. Many beginners used to mint the NFTs and skipped the promotion. There the lag in their earnings starts, leading to quitting their interest.
On promoting your creations, you also have a chance to make a brand for yourself apart from the profit.
In addition to increasing the attraction of your creations among other creators, it also attracts other artists. In this way, you can collaborate with them on future projects. Now you may know the importance of promoting your NFTs. To make your promotions easy, we suggest the top ideas to follow.
How to promote your NFT art on Rarible
Add your drop to the NFT Calendar
NFT Calendar is the best way to buy the greatest releases across all Marketplace available. It reduces the action of switching from one platform to another. On this Calendar, the best NFT got placed from various markets.
Follow the below details to drop your favorite creation into the NFT Calendar.
- Start with adding a title of your NFT called “Event Title.”
- Describe the content you’re going to place there in the Calendar.
- Add the start and end dates with the time of your listing items on the Marketplace
- State the Marketplace where your NFT is placed.
- Also include the link to your creation.
Once you click submit, your creation will be listed on NFT Calendar after a quick review by the team. All this process is free to do.
Social Media
All the creators will have their social media accounts. Twitter, Instagram, Discord, and Reddit are the most popular platforms to list and describe your creations. Preparing yourself for advertising on various social media sites before posting your creation is recommended.
It is recommended to tell the following details on social media:
- How did you create the art, and which tool did you use?
- The main idea and context of the content creation.
- Challenges you faced while creating the content.
Remember that some people used to note all the details about a particular NFT before investing in it. In addition to that, prepare some posts where you explain what NFT is and why your customers want to buy it.
Create an attractive Teaser for your creation.
Creating an attractive teaser for your creation will give an elaborative idea and provide a chance to purchase it. This way of advertising brings potential followers, analyzes your details, and stays tuned for the release date. Also, releasing the created Teasers on social media brings more buyers.
From the Featured drops on the Marketplace
This type of promotion is directly linked with marketplaces. Some of the creators have separate web pages with famous drops. The best examples are given below;
- KnownOrigin, for every week, creates a page with 4-5 featured drops, beginning with a countdown for release.
- Makersplace also creates a page with descriptions, images, teasers, and countdowns of famous creations.
- Nifty Gateway, apart from creating a page used to post an upcoming schedule on their website and official Twitter.
If your NFT is becoming more popular and getting featured drops, many marketplaces will also come forward to promote your NFTs on their social media.
Frequently Asked Questions
How do bids work on Rarible?
Once the sellers place the minimum bid amount for their NFTs, the buyers can start to place their Bids. Finally, the NFT is sold to the highest bidder.
What is the fee for selling your items on Rarible?
Rarible charges a 2.5% amount from the total transaction cost from both the buyers and sellers on each transaction. They say this fee is used for the transactions on the blockchain and paying its miners.
What are the simplest ways to promote NFTs?
Creating a conversation and collaborating with other artists is the best way of promoting your NFTs. Join active communities on Twitter, Discord, and more media. Always try to remain active and provide active and healthy chats with the community members.
How much does Rarible charge to create an NFT?
There is no pre-payment for creating your own unique NFTs on Rarible. However, Rarible charges a 2.5% fee for each transaction to buyers and sellers.
Who has to pay gas fees on Rarible?
Compared with other marketplaces, Rarible charges are slightly higher, and both parties ( buyers and sellers ) have to pay during every transaction. However, the owner of the creation/seller has to pay the entire cost equal to 5% front of the final listed price.
How long does it take to get verified on Rarible?
A Rarible profile will be verified within fourteen days after it has been submitted. There are 1,000 requests being received every day and they need to process them manually, so the process will take at most two weeks.
Why is it that non-verified users are not visible in the explore feed?
There will always be concerns about item authenticity in any large, open marketplace like Rarible. Previously, we allowed unverified users to appear in explore and search results before enabling verified-only search and explore. We decided to maintain the current search design since that led to an increase in unauthentic items.
Conclusion
This is the complete beginner’s guide to using rarible. With the help of the comment section on this article, you can reach us to get an answer to all your queries.
Aayush Kumar Gupta is the founder and creator of ExploringBits, a website dedicated to providing useful content for people passionate about Engineering and Technology. Aayush has completed his Bachelor of Technology (Computer Science & Engineering) from 2018-2022. From July 2022, Aayush has been working as a full-time Devops Engineer.
