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Pros and cons of Rarible
Pros
Lazy minting. Rarible offers creators the ability to mint without paying gas fees up front, also known as gasless minting.
Huge variety of NFTs. A mixed marketplace, Rarible has multiple genres of NFTs to browse through.
Multiple payment methods. Unlike OpenSea and Foundation, Rarible supports fiat card payments on select items.
Multichain marketplace. While built on Ethereum, Rarible supports the Flow, Tezos and Polygon blockchains for buying, selling and minting.
Cons
Homepage is cluttered. The platform's homepage is chock-full of listings — perhaps too many listings, which may be overwhelming for NFT newbies.
Various fees. A flat marketplace fee is standard, but along with the 2.5% marketplace fee, users must pay an initial connection fee, listing fee for each NFT put up for sale, and gas fees for transactions.
Rarible is right there with the other big dogs like OpenSea, Mintable and Nifty Gateway. And like Rarible, all the aforementioned are also built on Ethereum.
So what's the difference? Well, Rarible encourages meme and Internet-inspired content, and it has multichain support.
Plus, it has all the standard services of your typical NFT marketplace: Buy, sell and mint NFTs.
Our take on Rarible
Rarible is a multichain, mixed NFT marketplace. Not only does it have a variety of NFT genres, but you can also buy, sell or mint on four different blockchains — and plans to include more blockchains in the future.
For comparison, most NFT marketplaces operate on only one blockchain, or have a small safelist of supported NFT collections on one or two other blockchains. Rarible has an edge in terms of multichain capability — the only major blockchain it's missing at this point is Solana.
Rarible also supports minting on all four blockchains, but the platform seems to recommend minting on Ethereum, simply because it can give creators the biggest audience. However, this flexibility may be what many creators and collectors are looking for instead of being pigeon-holed onto one blockchain.
Image source: Rarible
Swapping between blockchains on the marketplace is as simple as choosing the Explore tab on the site, then selecting Blockchain. When you're minting new NFTs, you can also choose which blockchain to tokenize on.
Rarible also offers creators some flexibility when it comes to royalties, allowing them to choose up to 10%. Some platforms, such as OpenSea and Foundation, have a fixed 10% royalty percentage.
Your personal taste in digital art and NFTs decides whether or not Rarible is the place to shop, and Rarible is more on the light-hearted side of NFTs. Its listings aren't what most would call "sophisticated," but they could be called cutting edge.
Cryptocurrency and Web3 is often layered with sarcasm and memes, and Rarible reflects this overarching theme of the new web. If you prefer classy, more traditional art or sophisticated digital art, then Foundation or Christie's may be more your speed.
Overall, we don't have many gripes with Rarible as a whole. It has a large selection of NFTs, multichain support, many crypto wallets are supported, and you can even use a credit card for fixed-price items.
And it has a "dark" view which is much easier on the eyes than the bright, white background most NFT marketplaces feature.
Image source: Rarible, top "light" view, bottom "dark" view
About Rarible
Launched in 2020, the platform was built on the Ethereum blockchain and has since expanded to include three other blockchains: Flow, Polygon and Tezos. Buy, sell and mint NFTs on any of those blockchains.
The platform was founded by Alexander Salnikov and Alexei Falin, based out of Moscow. Both are renowned crypto enthusiasts and entrepreneurs.
Rarible is a buy and sell marketplace for NFTs. Users can also create and mint their own NFTs on the platform, making it accessible to those with no coding experience — pretty standard among large marketplaces.
Image source: Rarible
The Rarible platform is governed by the native cryptocurrency token RARI, which gives users the power to vote on the development of the platform.
Rarible blockchain and currency
The RARI token is the native token to the Rarible platform. Launched in July 2020, it was the first governance token in the NFT space. The token has a maximum supply of 25,000,000, half of which is reserved for buyers and sellers.
In terms of paying for NFTs and covering gas fees, the currency you need depends on the blockchain you're using. If you're on Ethereum, you need ether (ETH), its native currency. Or, you can use a credit card to pay for fixed-price NFTs — auctioned NFTs are crypto-exclusive for now.
Image source: Rarible, Medium
To earn RARI, you need to participate in what Rarible calls Marketplace Liquidity Mining. Every Sunday 75,000 tokens are distributed to those that either made a purchase or sale on the platform. This is set to continue for 200 weeks from July 2020.
The RARI token can only be earned through active participation — it can't be bought on the platform. However, the RARI token can be purchased or exchanged on some cryptocurrency exchanges, such as Kraken, Coinbase and Crypto.com.
The token was created to incentivize participation and to influence the platform's development. RARI token holders get to challenge and moderate the development team, select featured artwork and vote on platform upgrades.
The RARI token's ultimate goal is to move towards a decentralized autonomous organization (DAO). This would mean that platform users vote on all decisions.
Gemini is a cryptocurrency exchange with a simple UI that's user-friendly and accommodating to newcomers and experienced traders.
Gemini's strongest point is its Gemini Earn program, which allows users to earn up to 7.4% interest on specified cryptocurrency balances.
Gemini has a wide selection of cryptos available for exchange on the platform. However, some notable entries from the top 20 by market cap are missing, such as Cardano and Solana.
Deposit Methods
Bank transfer (ACH) Cryptocurrency Debit card PayPal Apple Pay Google Pay SWIFT
Deposit Fees
Cryptocurrency: None Bank transfer (ACH): None, bank fees may apply Wire Transfer: Determined by your bank Debit Card: 3.49% + Trading Fees Paypal: 2.50% of total deposit amount + Trading Fees
Withdrawal Fees
Cryptocurrency: None (for 10 withdrawals and below per month) Others: None (for 10 withdrawals and below per month)
Trading Fees
Taker fee - 0.03-0.4% Maker fee - 0-0.2%
What types of NFTs are available on Rarible
Rarible is a mixed marketplace. It features multiple genres:
To buy NFTs on Rarible you need a crypto wallet. Rarible supports multiple wallets, and the wallet you need depends on the blockchain you're accessing.
Blockchain
Wallets supported
Ethereum
MetaMask, Torus, Mobile Wallet, Portis, Coinbase, MyEtherWallet, Fortmatic
Flow
Blocto
Tezos
Temple and Beacon
Polygon
MetaMask
Connect your wallet and you can start buying NFTs — you don't need to give Rarible your email address or create a password to make purchases.
Purchasing an NFT on Rarible goes like this:
Connect a wallet. Choose a blockchain then the corresponding wallet to connect. Most of the popular NFT collections are on Ethereum, and MetaMask is a very popular digital wallet. Select Sign in on the top-right corner to connect.
Browse NFTs. On the Rarible homepage, you'll find top collections, hot bids, top sellers, live auctions, hot collections and the Explore option.
Choose NFT. Select the NFT that you'd like to purchase. Buy some NFTs via an auction or instantly purchase others. For ones in an auction, view the current bid, bid details and previous bids in the bottom right of the screen.
Buying time. If you're buying in an auction select Place a bid and enter the amount you'd like to bid for the NFT. Otherwise, choose Buy and hit Proceed to payment.
If you're buying an NFT for the instant price, confirm the transaction via your digital wallet, along with the associated gas fees. Alternatively, at auction, wait for the bid to close and then confirm the transaction if you still hold the highest bid.
The NFT for the digital collectible or artwork is then sent to your digital wallet. It can be transferred to any other wallet on the Ethereum blockchain.
Depending on the NFT you may also receive a high-resolution digital copy of your selected collectible for you to distribute as you wish.
A 2.5% marketplace fee is applied to every purchase in Rarible, but depending on the seller's setting, the buyer may not have to pay the 2.5% marketplace fee.
Popular creators on Rarible
A few top sellers featured on Rarible in the last 30 days, at the time of writing, include:
Daxio
NFT Club
IDZ
RareCandy3D
Hoang Trung
SINS
G-Star Raw
Some popular NFT collections are:
Azuki
Bored Ape Yacht Club
CloneX
CryptoPunks
Doodles
Genesis
Mutant Ape Yacht Club
Pak
Otherdeed
Image source: Rarible
How to sell NFTs on Rarible
Head over to the Rarible website, choose a blockchain, then connect your crypto wallet. You don't need to create an account to sell NFTs on the site — your Rarible account is created once you connect a wallet.
Select your asset. Access your crypto wallet connected to Rarible, and select the asset you want to sell.
List for sale. For the NFT you wish to sell, look for three dots adjacent to the NFT's title. In the drop-down menu choose Put on sale.
Choose a sale option. Rarible supports three sale options: fixed-price, timed auction and open auction. Choose the one you'd like to use for your NFT.
Put a price on it. Toggle on Instant sale price and enter the amount you'd like to instantly sell the NFT for.
Confirm. Confirm the posting of your NFT by hitting Next.
There are two fees to watch out for when selling NFTs: a 2.5% sales fee and a 2.5% listing fee.
How to mint NFTs on Rarible
If you're minting an NFT to sale, follow these steps:
Connect your wallet. Connect your crypto wallet and choose the blockchain you want to mint on. While the most expensive in its gas fees, Ethereum is the most popular blockchain for NFTs.
Start creating. Choose the blue Create button in the top-right corner of the screen.
Collection or single? Select whether you'd like to create a single NFT or create a collection of NFTs, and upload your file(s).
About your NFT(s). Specify the details of your NFT such as the name, description, price and royalty information. Rarible allows creators to set the royalty percentage up to 10%.
Fees and confirmation. The gas fees for NFT creation will need to be paid via crypto wallet. The fees for creating an NFT can be quite high due to the energy required, so check over the fees. Once you're happy, confirm the transaction.
Rarible fees
There are several user fees that apply when using the Rarible platform.
Connection fee
To open up a connection channel with Rarible. The Ethereum network charges a small connection fee when a user performs their first transaction. This fee doesn't go to Rarible.
Marketplace fee
2.5% — the seller can pay this fee if they choose; if not, then the buyer covers this fee when purchasing.
Listing fee
2.5%
Gas fees
Vary depending on congestion levels and chosen blockchain.
There's one fee you can choose to defer, though: minting gas fees.
Rarible offers creators gasless minting, what it calls lazy minting. This means that creators can choose to defer the actual "minting" process until the NFT is sold, thereby deferring the required gas fee when interacting with the blockchain. This is a big plus in our book, seeing as creators won't be out of their money if their minted NFT never sells.
Rarible NFT drops
Rarible doesn't have a specific page listing upcoming drops, but it has a newsletter you can subscribe to. It doesn't appear to have a set schedule, but Rarible releases updates on the platform about every two weeks, and if you're subscribed to the newsletter, the latest Rarible updates and news go right to your inbox.
Image source: Rarible
How the Rarible app works
Rarible offers a mobile app on both the Google Play store and the Apple App Store, each are free to download. It's called Rarible: NFT Browser on Apple and Rarible: NFT Discovery on the Google Play store.
This app is the very first version of Rarible official apps, and it can only be used to:
View NFTs and their details
View trending and hot NFTs or collections
Browse featured NFTs
Like and share digital assets
Overall, it has favorable ratings on Apple with a 4.2-star rating, and a so-so rating on Google Play with 3.3 stars.
Common complaints revolve around disappointment, since you can't buy, sell or mint NFTs on the app. Other issues users report include general technical issues, but we take these with a grain of salt.
Image source: Rarible: NFT Discovery, Google Play
Rarible's unique features
One of the biggest pluses for Rarible is the lazy minting feature. New creators can start listing their NFTs without fear of paying high gas fees for the NFT to sit there. But remember that you're not skipping the gas fee, you're simply deferring it.
This can be a great option for new creators that are just starting out and want to mint on the pricey Ethereum blockchain. Not many marketplaces offer gasless minting or deferred minting, so it's a big thumbs up from us.
Is Rarible legit?
Rarible is a legitimate NFT marketplace that's gained some notoriety in the last few years. Since its launch in 2020, there hasn't been any sitewide incidents reported.
However, in April 2022, researchers from Check Point — a cybersecurity firm — found a vulnerability in Rarible's platform that could allow nefarious persons to create malicious NFTs "that allow attackers to take full control of the victims crypto wallet to steal funds when they are clicked on," reported by The Record.
Rarible acknowledged this issue on April 5th, 2022 and Check Point believes that Rarible is deploying a fix for this vulnerability soon.
Rarible has held its ground against major hacks but phishing scams, rugpulls and fake NFTs are running rampant in the NFT space. To learn more about this side of crypto and how to keep yourself safe, read our NFT scams guide.
Bottom line
Rarible's multichain mixed marketplace can be great for collectors and creators alike. Users can mint on four blockchains, and collectors can collect a wide variety of NFTs across genres and chains. Rarible supports multiple wallets, the site is simple to navigate and it has an overall light-hearted vibe.
Despite the subjectiveness of the art style Rarible often features, it's a solid platform to buy, sell and mint NFTs. It may not be as fancy as Foundation or as well-known as OpenSea, but it's a top platform in our opinion.
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Bethany Hickey is a personal finance writer at Finder, specializing in banking, lending, insurance, and crypto.
Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt.
Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others.
Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine.
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Image source: Rarible
Image source: Rarible, top "light" view, bottom "dark" view
Image source: Rarible
Image source: Rarible, Medium
Image source: Rarible
Image source: Rarible
Image source: Rarible: NFT Discovery, Google Play
