Rare Protocol, developed by SuperRare Labs, has recently been activated on the Ethereum mainnet, introducing a suite of innovative smart contracts that aim to revolutionize NFT content curation in the blockchain industry. This open-source protocol not only expands its functionalities beyond its initial user base but also aligns with Web3’s vision of making art accessible to everyone.
Fluctuating and dipping NFT sales are not just a response to market cycles but also reflect underlying issues within the industry. One major challenge creators face is the need for expertise in developing genuine authenticity and exploration amidst a plethora of choices. Rare Protocol addresses this challenge by providing a comprehensive tool that serves as a one-stop solution.
Rare Protocol functions as a universal hub for NFT curation, empowering Web3 creatives through an on-chain data layer focused on curation, trustworthiness, and exploration. The protocol’s Curation Staking system plays a vital role in this process, allowing users to validate the authenticity of other individuals by staking Rare Protocol’s native token $RARE. This establishment of a trustworthy social community simplifies the process of discovering creators and fosters deeper connections within the ecosystem.
In addition to Curation Staking, Rare Protocol incorporates two other core elements: Community Pools and Curated Lists. Through the use of $RARE, users can extend their support for creatives by staking them to earn a place in artist-tailored Community Pools. These pools act as peer support circles that advocate for the success of the artists. When artists close deals on platforms like SuperRare, the stakers and their community pools can receive rewards to promote upcoming talent, thus leveling the playing field in the world of creativity.
The technicalities behind Curated Lists involve on-chain records of all endorsed artists interacting with other lists. This creates a user-friendly network that transforms how people discover art and explore different tastes. As the Curated Lists and Community Pools grow, a far-reaching blockchain-run social graph is formed, which becomes a valuable asset for developers in creating superior apps.
To summarize, Rare Protocol’s NFT initiative is a groundbreaking development for digital artists, curators, and collectors. By leveraging a peer-to-peer token incentive structure, this cross-platform qualitative data layer enhances the dynamics of the NFT market. It improves discoverability while boosting the reputation of sellers, laying the groundwork for a secure and creative-friendly phase in the Web3 sphere.
In conclusion, Rare Protocol’s activation on the Ethereum mainnet marks a significant milestone in the evolution of NFT content curation. With its focus on authenticity, trust, and exploration, this open-source protocol empowers Web3 creatives and simplifies the process of discovering and connecting with artists. By incorporating Curation Staking, Community Pools, and Curated Lists, Rare Protocol expands the possibilities for NFT curation and fosters a supportive ecosystem that benefits both artists and collectors. Its efforts contribute to the vision of a more inclusive and accessible art world in the blockchain landscape.
