Crypto Gloss

Rarible

Rarible is a multi-chain NFT marketplace and protocol launched in January 2020 that pioneered the concept of a creator-governed NFT platform — distributing RARI governance tokens to marketplace participants through a “marketplace mining” model, allowing creators, buyers, and sellers to earn ownership in the platform itself, and subsequently evolving into a protocol (Rarible Protocol) that powers third-party NFT marketplaces.

How Rarible Works

Creator access:

  • Permissionless — any creator can mint and list NFTs without invitation
  • Supports ERC-721 (unique) and ERC-1155 (semi-fungible/editions)
  • Lazy minting: creators can list NFTs without paying gas upfront; the gas is paid at first purchase
  • Available on Ethereum, Polygon, Solana, Tezos, and Immutable X

Marketplace mechanics:

  • Fixed price and timed auction listings
  • Creator sets royalty percentage (0–50%) enforced at the Rarible level
  • Rarible takes 1–2.5% service fee
  • Built-in collection creation tools for creators

RARI Token — Marketplace Mining

Rarible’s most innovative feature at launch: marketplace mining — distributing RARI governance tokens to active buyers and sellers proportional to their volume on the platform:

  • Each week, a pool of RARI was distributed to users based on trading activity
  • This incentivized volume and created early adopter ownership
  • RARI holders can vote on platform governance decisions

The marketplace mining model created a “work to earn ownership” mechanism — one of the earliest applications of this concept in NFT marketplaces. However, it also incentivized wash trading (buying and selling to yourself to farm RARI).

Rarible Protocol

Beyond the marketplace, Rarible developed the Rarible Protocol — an open-source NFT infrastructure layer:

  • White-label marketplace creation for brands and communities
  • Aggregated liquidity across platforms
  • Multi-chain NFT indexing and search
  • Used by third-party companies to build custom NFT marketplaces

The protocol pivot positioned Rarible as infrastructure rather than just a consumer marketplace — competing with OpenSea more as an API provider than as a direct marketplace.

Multi-Chain Expansion

Rarible was one of the earlier NFT platforms to expand aggressively to multiple chains:

  • Ethereum (original)
  • Polygon (lower gas costs)
  • Tezos (eco-friendly PoS art community)
  • Solana (high-volume NFT ecosystem)
  • Immutable X (gaming NFTs)

History

  • January 2020 — Rarible launches on Ethereum as a permissionless NFT marketplace
  • July 2020 — RARI governance token launched; marketplace mining begins; one of the first NFT platform tokens
  • 2020–2021 — Significant growth; RARI token appreciates; Rarible becomes one of the top NFT marketplaces by volume
  • 2021 — OpenSea dominates the market; Rarible loses market share but maintains strong brand
  • 2022 — Multi-chain expansion; Rarible Protocol developed; pivot toward infrastructure provider
  • 2023–2024 — Rarible continues as a significant multi-chain NFT marketplace and protocol; smaller market share than OpenSea and Blur but strong brand with early adopters and artists

Common Misconceptions

  • “Rarible is just an OpenSea clone.” — Rarible launched before OpenSea became dominant and pioneered several NFT marketplace innovations: governance tokens, marketplace mining, and early multi-chain support. The platforms have different origins and design philosophies.
  • “RARI token is purely speculative.” — RARI grants real governance rights over platform decisions and fee structures. Holders have voted on meaningful platform changes.

Social Media Sentiment

  • X/Twitter: Rarible has a loyal creator-focused community; respected as an OG NFT platform; less prominent in mainstream NFT discourse than at its 2021 peak.
  • r/NFT: Generally positive; creators appreciate the permissionless model and multi-chain support; some criticism of wash trading incentivized by the RARI mining model.
  • Creator community: Rarible is popular with artists who value permissionless access and royalty enforcement; the multi-chain support is a practical advantage for creators working across ecosystems.

Last updated: 2026-04

Related Terms

See Also

  • OpenSea — the dominant NFT marketplace; Rarible is frequently compared to OpenSea as the pioneering alternative with governance token ownership
  • Foundation — the curated NFT art marketplace; contrast to Rarible’s permissionless model
  • NFT Royalties — a key feature Rarible helped establish; the creator royalty model that Rarible enforced and championed

Sources