Empowering Creators in the NFT Space: Rarible’s New Initiative 🌟
Rarible and Arbitrum have teamed up to launch an initiative aimed at supporting on-chain creators while exploring earning potential through DeFi and NFTs. This collaboration marks an exciting opportunity for artists, developers, and innovators within the emerging Web3 landscape.
RARI Chain: A Nexus for DeFi and NFTs
Rarible stands as one of the largest marketplaces for NFTs globally. At its heart lies RARI, an Ethereum-based token that drives the platform’s ecosystem.
RARI Chain is designed as a layer-3 solution built on Arbitrum, which operates as a layer-2 enhancement for Ethereum. This layer-3 framework is dubbed a “Creator Chain” since it specifically focuses on the creation and sale of NFTs while embedding royalties directly at the node level. Such a design encourages innovation and aims to enhance the earnings potential for both creators and collectors.
Indeed, RARI Chain provides creators with diverse avenues for income generation, including the commodification of their creations, incentive rewards, decentralized exchange (DEX) options, and opportunities to earn native yields.
Understanding the Role of the RARI Foundation
The RARI Foundation is responsible for the establishment of the RARI Chain. This non-profit organization was founded in 2022 and serves as the official representative of the RARI DAO. The DAO is governed by RARI token holders while entrusting key responsibilities to the RARI Foundation.
Dedicated to developing NFT infrastructure, the foundation is pivotal within the DAO framework, overseeing treasury management and facilitating community-aligned initiatives. The core mission focuses on fostering the decentralized evolution of the Rarible API, ensuring a smooth transition of ownership to the DAO.
Initiative for NFT Creators: The Launch of DeFi Days 🎉
In partnership with Arbitrum, RARI Chain has introduced the concept of “DeFi Days.” This initiative is designed to showcase creators as central figures in the advancement of the crypto industry, aiding them in finding and capitalizing on the various earning possibilities available in the ever-evolving Web3 environment.
The initiative has set aside an impressive prize pool of around $80,000, in collaboration with its partners, to support this endeavor. Kicking off on October 24, 2024, the DeFi Days will engage the RARI Chain community, encompassing nearly 150,000 members and beyond.
Highlights of DeFi Days ✨
Throughout the DeFi Days, the program will promote ecosystem projects via Superboard missions and allocate rewards that total about $80,000. It will also feature workshops focused on educating creators at the DeFi Studio and host a contest with an IRL showcase in Bangkok.
Spanning a duration of 8 weeks, this initiative will deliver various potential revenue streams. These include commodification opportunities for creations, incentives for creators, DEX transactions, and native yield generation. Moreover, creators will benefit from comprehensive training on DeFi, exploring alternative income avenues in cryptocurrencies beyond just NFT sales.
The DeFi Studio workshops will be conducted both online and in person, with notable locations like New York, Lisbon, and Bangkok being part of the schedule.
The challenge for Web3 artists is organized through a collaboration involving RARI Chain, Arbitrum, Refraction DAO, HUG, and SheFi, along with curators led by Aniko Berman and Justin Gilanyi from Codex Projects. Those chosen as winners will have the opportunity to showcase their artwork at the DevCon event in Bangkok on November 13.
Thoughts from Key Leaders 💬
Jana Bertram, the Strategy Head at RARI Foundation, expressed:
“We are building a decentralized NFT future and have always supported creators in their quest for recognition and rewards. The launch of DeFi Days marks a pivotal step in empowering creators within the web3 ecosystem. This initiative not only enhances the ability of creators to earn during their Web3 journey, but it also equips them with essential knowledge and resources to navigate the rapidly changing landscape of decentralized finance. By strengthening the links between creators and the DeFi ecosystem, we aim to bolster the stability and longevity of the creator economy on the RARI Chain.”
Peter Haymond, Senior Partnerships Manager at Offchain Labs, added:
“The DeFi Studio workshops provide an exciting opportunity to nurture a new generation of creators. Utilizing Arbitrum technology, we strive to offer a smooth experience while they explore various DeFi options. This initiative aligns with our goal of building a scalable and inclusive blockchain ecosystem that empowers not just developers but the entire community of creators.”
As you delve into this year’s initiatives, embrace the potential that Rarible and Arbitrum present for the creator economy and seize the opportunities that come your way.
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