Rari Chain Mainnet Launches on Arbitrum
Rari Foundation, the organization representing the Rari DAO, has introduced the Rari Chain mainnet on Arbitrum. This new chain is built on Arbitrum and functions as an equivalent chain to Ethereum’s Virtual Machine (EVM), enhancing scalability and other features for the NFT ecosystem. By embedding royalties at the node level, Rari Chain preserves these important aspects of NFTs. Jana Bertram, Head of Strategy at Rari Foundation, expressed excitement about turning their vision into reality and providing a decentralized infrastructure tool for the web3 community.
Open Edition NFT Drop
Alongside the mainnet launch, Rari Foundation collaborated with Rarible and other partners to host an open edition NFT drop featuring ten digital artists. This initiative further highlights Rari Chain’s commitment to supporting creators in the NFT space.
Rari Token and Governance
The Rari Foundation operates with its native token, $RARI, which has a total supply of 25 million. As of January 24, it was valued at $1.28. The foundation’s treasury holds approximately 6.3 million $RARI tokens, amounting to nearly $8 million. Governance of the Rari ecosystem is overseen by $RARI token holders through the RARI DAO.
Hot Take: Rari Chain Boosts NFT Innovation
The launch of Rari Chain’s mainnet on Arbitrum is a significant step forward for the NFT ecosystem. With its focus on preserving royalties and enhancing scalability, this creator-focused chain provides a decentralized infrastructure tool for web3 communities. The collaboration with digital artists through an open edition NFT drop demonstrates Rari Chain’s commitment to supporting creators in this space. As Rari Chain continues to evolve and welcome new NFTs and projects, it is poised to drive innovation and contribute to the future of NFT infrastructure.
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