RARI Foundation Launches Mainnet of RARI Chain on Arbitrum, which is set to boost the NFT Creator Ecosystem.

The RARI Foundation, a non-profit entity committed to promoting decentralized technologies, has revealed the mainnet launch of RARI Chain, a next-generation blockchain solution. NFT This blockchain operates as a Layer 3 (EVM L3) platform, specifically designed to overcome the scalability issues affecting the NFT landscape. Ethereum Powered by Arbitrum technology, RARI Chain incorporates royalty features directly at the sequencer level. This groundbreaking initiative aims to empower creators by guaranteeing fair remuneration for their artistic contributions.

"Establishing royalties on the sequencer level is an unprecedented concept. To our knowledge, no other blockchain has implemented such a feature because royalty enforcement typically occurs at the application or smart contract layer. By embedding this mechanism at the node level, we make it an intrinsic part of the blockchain, ensuring true immutability,\" explained Jana Bertram, head of strategy at RARI Foundation during an interview with Metaverse Post.

In celebration of the mainnet's launch, an array of open edition collection drops featuring ten diverse digital artists has been introduced. Artists involved include names like Alien Queen, Amber Vittoria, and Techkeyz.

Bertram mentioned that the selection of artists was sourced from a variety of avenues—an open call through HUG, a creator collective allowing anyone to submit their art, followed by a community voting process to determine the first RARI Chain creators.

"The RARI Foundation curated the shortlist with the help of art curators Aniko and Justin, who also brought additional artists into the mix. This approach ensures a rich diversity in artistic styles, inspirations, and backgrounds, as well as varying career stages among the selected creators,\" she elaborated.

Furthermore, the RARI Chain has been developed using proprietary technologies called Caldera and Orbit Chain, along with Arbitrum Nitro tech. Together, these innovations aim to enhance the scalability of the NFT ecosystem while providing flexible governance structures to ensure that artists receive fair compensation for their efforts.

NFT Governance and Royalties on RARI Chain

According to the published information, governance will be conducted under the RARI DAO, with active engagement from $RARI token holders. The platform promotes low transaction fees, rapid block finality, and a secure atmosphere, making it an attractive option for onboarding a wide array of NFT projects and users.

The successful launch of the mainnet is credited to collaborative efforts with various partners such as Rarible, LayerZero, Celestia, Decent, Thirdweb, WalletConnect, Rainbow, Zerion, Magic, SimpleHash, Gelato, Caldera, and Arbitrum.

Commenting on the contributions of these partners, Jana Bertram from RARI Foundation stated that while each partner offers specific tools, the ultimate goal is to create a conducive environment where developers, projects, and brands can discover what they need to enhance user engagement.

"To accomplish this, we're ensuring features like fiat on-ramps, credit card checkouts, gasless minting, and account abstraction, among many others. Partnerships with entities like Celestia also enable us to take advantage of alternative decentralized approaches, minimizing operational costs while being accountable to the RARI DAO and its community,\" she added.

Rarible.com is set to integrate assets into the RARI Chain on its marketplace, facilitating user purchases.

As part of its RARI Chain integration, Rarible acknowledges the importance of allowing users to move funds across different chains and offers options for credit card checkouts. The first enhancement, in-app bridging, is just the beginning, with additional features on the horizon.

Post-mainnet launch, RARI Chain aims to establish a grants fund to support projects that are building on the platform. There is also a Creator Fund in the works, which will allocate a portion of the chain’s earnings to a sub-treasury designated for creators.

The team reports significant testnet activity, with 46,000 wallet addresses participating and 251,000 transactions completed. NFT applications \"The Creator Fund will be completely governed by the RARI DAO, putting the selection and allocation processes in the hands of the community, which we expect will encourage RARI Chain creators to get involved. This way, they can influence and decide on initiatives that will receive DAO funds,\" stated Jana Bertram from the RARI Foundation during her chat with Metaverse Post. \"On the other hand, the Grants fund is aimed at those building on RARI Chain, assisting in its increased adoption and utility, thus benefiting the DAO as a whole.\"

Users will soon be able to utilize the Rarible protocol to design decentralized NFT applications. Global artists are also expected to create their NFT collections directly via Rarible on the RARI Chain.

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With RARI Chain now live on mainnet, developers Kumar is a seasoned Tech Journalist specializing in the fascinating intersections of AI/ML, marketing technologies, and emerging sectors such as cryptocurrency, blockchain, and NFTs. With over three years of industry experience, Kumar has built a robust portfolio of engaging narratives, compelling interviews, and insightful analyses. His expertise encompasses the creation of impactful content, including articles, reports, and research publications for leading platforms in the field. With a unique blend of technical knowledge and narrative flair, Kumar excels in articulating complex technological ideas to broad audiences in an understandable and captivating way.