Rarible Review

Rarible Ratings at a Glance

Rarible is a marketplace that directly connects sellers, including content creators and digital artists, with buyers who can purchase ownership of unique pieces, eliminating the need for intermediaries. As a decentralized marketplace, trades occur via a smart contract and are recorded on a blockchain ledger, ensuring transparency, security and immutability of NFT transactions. When creators upload and mint their files on Rarible, it creates unique NFTs on the blockchain, which cannot be interchanged. 

These NFTs can be transferred between wallets, ensuring ownership and provenance for digital assets. Rarible users can program royalties into their created assets, specifying a percentage of future sales, and automatically receive a portion of subsequent sales in their digital wallet. This feature ensures creators are compensated for their work and the ongoing value of their NFTs. You can invest in NFTs with Rarible by directly buying or reselling on the platform, creating and selling your own NFTs or acquiring the $RARI token.

Buy or Sell NFTs

To buy or sell NFTs on Rarible, you first need to create a profile on the platform, which requires having a crypto wallet. Rarible supports over 20 crypto wallets allowing you to select the one that best suits your preferences. Once you've created a crypto wallet, visit Rarible.com and click the "Connect wallet" button in the upper-right-hand corner of your screen. Then select your crypto wallet provider and click on the "Connect" button on your wallet provider's browser extension. 

This process will establish the connection between your wallet and Rarible. Next, click the "Sign" button to accept the Terms of Service and confirm you're at least 13 years old. Once signed in, you must provide a display name and your email. Afterward, you click the "Finish sign-up button," and that's it. Subsequently, you can customize your profile by adding an avatar, a bio and more. 

Once you've created your profile, you have to explore the platform. This process involves browsing available NFTs, exploring different categories and discovering the artwork and collectibles that interest you. By exploring the platform, you can familiarize yourself with the diverse range of NFTs available for investment and find the ones that align with your preferences and investment goals. On finding a suitable NFT, you can proceed to make a purchase by placing a bid or buying it outrightly, depending on the seller's listing preferences. 

Alternatively, if you have created your own NFTs, you can list them for sale and find interested buyers. Buying or selling NFTs on Rarible allows you to actively participate in the NFT market and benefit from the value and growth of digital assets. To foster engagement with the creative community, it's ideal to follow artists and creators whose work resonates with you. That way, you can stay updated on their latest releases, developments and collaborations, promoting a closer connection and enabling you to discover new and exciting NFT opportunities.

Creating an NFT

Rarible offers you an option to create your own NFT and earn substantially from its sale afterward. The process involves minting unique digital assets and turning them into NFTs. As a creator, you can upload your digital artwork, collectibles, music, videos or any other digital creation onto the Rarible platform. Once uploaded, you can assign specific details and metadata to your creation, such as title, description, edition size and royalties. 

After the minting process, your digital asset will be transformed into an NFT, provably unique and recorded on the blockchain. The actual steps are more detailed but highly simplified and beginner-friendly. By creating and selling your own NFTs, you can showcase your creativity, gain recognition and achieve financial freedom from the sales of your digital creations.

RARI Token

In addition to investing in NFTs, Rarible provides an additional opportunity to engage with its ecosystem through the RARI token. The RARI token is the native utility token of Rarible and offers various benefits to token holders. By holding RARI tokens, you can participate in governance decisions, earn rewards and access exclusive features and discounts on the platform. 

It offers you priority access to limited edition drops, early access to new features and upgrades, participation in token-holder exclusive events and potential airdrops and token distribution. The RARI token is a crucial element in the Rarible platform, providing users with enhanced privileges and opportunities for participation and engagement. Benzinga rates Rarible 5/5 based on the uniqueness and simplicity of its service offerings.

Rarible lacks adequate customer support channels, translating to a poor customer service experience for most users. There's no phone, email or contact form where customers can complain or request assistance. While answers to most of your potential complaints may be available on the FAQ, it is limited. 

You can connect with the team or stay updated via its social media or instant messaging channels, including Twitter, Discord Server, Telegram and Instagram. Rarible has a rating of 1.8/5 on Trustpilot, which reflects its poor customer service. Most reviewers complained about being ripped off, and without customer service agents to clarify reviews like that, it can be damaging to a brand. To be fair though, most of the reviewers were from 2021. Maybe things have improved. Benzinga rates Rarible 2/5 on customer service.

Rarible charges a flat 1% service fee on both ends of the transaction — that is, the 1% applies to buyers and sellers for every NFT transaction. A blockchain gas fee also applies for every transaction. The specific amount depends on your chosen blockchain network and how congested it is during your transaction. While Ethereum is the most popular blockchain, its gas fee is often expensive. Rarible offers multiple blockchain options, including Polygon, Tezos and Immutable X, offering users alternatives to reduce transaction fees and enhance their NFT experience. 

Rarible also offers "lazy minting" for NFTs, enabling creators to mint tokens on Ethereum without paying gas fees upfront. While this reduces environmental costs and simplifies the process for creators, buyers may incur higher transaction costs as they automatically become responsible for both minting and purchase fees, which can affect the demand for zero-cost NFTs. An excellent way to save cost via discount is by earning the $RARI token via airdrop, listing or buying — all involve active participation on the platform. 

Rarible supports multiple payment options, including crypto, debit and credit cards. Credit card fees also apply depending on the specific crypto and how much you spend. Benzinga rates Rarible 4.5/5 on pricing.

Rarible offers an NFT aggregator mobile app that essentially mirrors the website features. The app is highly-intuitive and user-friendly, providing users with a flexible means of engaging with the world of NFTs. Its sleek design and seamless interface make navigation a breeze, allowing users to effortlessly discover, buy and sell digital artworks and collectibles. The app's user-friendly features and intuitive functionality make it a convenient and accessible platform for seasoned collectors and newcomers to explore the exciting realm of NFTs on the go. Still, this experience is based on Benzinga’s limited interface with the app at the time of writing, which might be limiting especially considering that the app’s reviews on PlayStore weren’t impressive. Benzinga rates Rarible 5/5 on its mobile app.

Rarible offers a broad selection of NFTs (over 400,000), allowing users to easily find and access diverse digital artworks, photographs, metaverse and many collectibles. The platform empowers creators to sell their own NFTs, providing them with tools and infrastructure to showcase their work and potentially generate income. Investors can participate in the $RARI token, gaining access to benefits such as discounts and exclusive opportunities within the ecosystem. 

With a user-friendly mobile app, Rarible ensures a seamless and intuitive experience for users to explore, buy and sell NFTs on the go. Overall, Rarible delivers core user benefits through its diverse NFT marketplace, creator-friendly platform, investment opportunities and mobile accessibility. Benzinga rates Rarible 5/5 on user benefits.

Rarible provides a seamless user experience, offering an easy-to-navigate platform for exploring, buying and selling NFTs. The site's intuitive design and user-friendly features make it accessible to beginners and experienced users. Whether you are a creator looking to showcase your work or a collector searching for unique digital assets, Rarible offers a highly recommendable user experience. It requires no code, and you don't have to be a geek to make sense of it. Its mobile app enhances convenience, allowing users to engage with the marketplace anytime, anywhere. With its overall ease of usage and user satisfaction, Benzinga considers Rarible a valuable and highly recommendable platform.

Compare Rarible vs. Competitors

Rarible has a few competitors in the NFT marketplace, with OpenSea being its primary rival. Both offer a wide selection of NFTs and are popular NFT marketplaces. However, Rarible supports multiple blockchain networks, including Ethereum, Polygon, Tezos and Immutable X, while OpenSea primarily supports Ethereum and Solana. 

Rarible charges 1% service fees for both buyers and sellers, while OpenSea charges 2.5% service charges from only the buyer. With Rarible, you can set your royalties up to 100% (although it often ranges between 5% to 10%). In contrast, you can only set royalties up to 10% on OpenSea. OpenSea network allows you to use top cryptocurrencies on its platform while paying the gas fees in ETH. Rarible only permits the native currency of the blockchain you're minting and uses its native token ($RARI) for DAO functionality.

Rarible is a dynamic and innovative NFT marketplace that provides a decentralized platform for creators and collectors to engage with digital assets. It offers a diverse range of NFTs, allowing users to discover unique and rare digital artworks. Rarible's commitment to decentralization and community governance fosters a sense of ownership and participation among its users. The platform's intuitive interface and user-friendly features make it accessible to newcomers and experienced users. 

Additionally, Rarible's "Lazy minting" feature reduces the environmental impact of NFT creation and simplifies the process for creators. As a relatively new platform, Rarible has yet to stand the test of time compared to more established competitors. It lacks comprehensive customer support and educational resources that could enhance the user experience. Despite these limitations, Rarible remains a popular platform for individuals interested in exploring and investing in NFTs. Benzinga rates Rarible 4.5/5 overall.

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