The RARI Foundation Launches Testnet of RARI Chain on Arbitrum
The RARI Foundation has introduced the testnet of the RARI Chain on Arbitrum, enabling creators to receive royalties at the node level. Rarible, an NFT marketplace, will utilize the RARI chain to enhance its NFT infrastructure.
Native Chains in the NFT Sector
NFT marketplaces are launching their native chains to better support the NFT ecosystem. This trend aims to address challenges such as royalty payments for creators.
Reasons Behind RARI Foundation’s Native Chain Launch
The RARI foundation has launched the testnet of the RARI chain, an Ethereum Virtual Machine (EVM) equivalent blockchain on Arbitrum. The foundation believes that there is a problem with royalty payments for creators and aims to solve this issue by embedding royalties on the node level through the RARI chain.
Rarible as an Early Adopter
Rarible, an NFT marketplace, will be one of the first adopters of the RARI chain. Alex Salnikov, Chief Strategy Officer and Co-Founder of Rarible, emphasizes that protecting creator earnings is crucial in a creator-centric Web3 ecosystem. Enforcing royalties at the node level ensures that creator royalties are guaranteed.
NFT Marketplaces Embracing Native Chains
Blur, another NFT marketplace, recently launched its Layer 2 solution called Blast on Ethereum. Within hours of its announcement, Blast attracted over $60 million in total value locked and secured $20 million from notable investors.
Hot Take: NFT Marketplaces Innovating with Native Chains
The emergence of native chains in NFT marketplaces reflects a growing need to enhance the NFT infrastructure and address challenges such as royalty payments. By launching their own chains, marketplaces like Rarible and Blur are taking steps towards creating a creator-centric ecosystem where artists can thrive. These native chains offer the potential for improved royalty systems and increased security for creators, ensuring that their earnings are not just a promise but a guarantee.
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