In a significant stride toward a creator-centric Web3 ecosystem, the RARI Foundation, the non-profit arm of the Rarible ecosystem, has unveiled the testnet for its groundbreaking RARI Chain on Arbitrum. This Ethereum Virtual Machine (EVM)-compatible blockchain promises a paradigm shift in the NFT space by embedding royalties directly into its nodes.
Artists & creators deserve royalties.
With RARI Chain, they're embedded at the node level.
Now, creator royalties are more than just a promise, they are a guarantee.
— Rarible (@rarible) November 30, 2023
RARI Chain: Pioneering Royalty-Embedded NFT Ecosystem
The RARI Foundation’s commitment to the empowerment of creators takes a concrete form with the introduction of the RARI Chain. This EVM-equivalent blockchain, operating on Arbitrum, positions itself as a comprehensive NFT infrastructure solution. Notably, royalties are intricately woven into the nodes of the chain, ensuring creators have robust tools for success.
Amid a surge in Rarible’s trading volume, the decision to exclude marketplaces lacking royalty support proved pivotal. This commitment led to the unveiling of the RARI Chain, designed to offer creators a safeguard for their earnings. Jana Bertram, Head of Strategy at the RARI Foundation, emphasizes the importance of preventing the disintermediation of creators from the growing Web3 landscape.
The RARI Chain Ecosystem: A Collaborative Effort
Backing the RARI Chain are key partners such as Arbitrum, LayerZero, Thirdweb, Gelato, WalletConnect, Magic, and Caldera. This collaborative effort aims to actively contribute to the success of the new blockchain. Nina Rong, Head of Ecosystem Development at Arbitrum Foundation, underscores the significance of fairly rewarding creators, marking the enforcement of royalties at the node level as a substantial step forward.
Rarible’s Vision for Web3
Alex Salnikov, Co-founder of Rarible, envisions Web3 as a “creator-centric ecosystem” where artists can truly thrive. Rarible’s move to adopt the RARI Chain is positioned as a proactive step to protect creators’ earnings. By ensuring royalties are enforced at the node level, Rarible transforms creator royalties from a mere promise into a tangible guarantee.
As the RARI Chain enters the testing phase, it not only marks a technological advancement but a philosophical commitment to placing creators at the forefront of the evolving NFT landscape. The collaborative support from industry partners signals a collective effort toward a more sustainable and empowering Web3 future.