The RARI Foundation, the nonprofit arm of the Rarible ecosystem, has officially released a testnet for an EVM-equivalent blockchain called "RARI Chain." This blockchain is designed to provide a nonfungible token (NFT) infrastructure solution, with royalties embedded into its nodes, offering creators the tools they need to succeed.
Commitment to Royalties Drives Rarible's Trading Volume
Rarible's NFT marketplace has recently seen an increase in trading volume after demonstrating its commitment to royalties. By removing marketplaces that do not support royalties and royalty enforcement from its aggregation data, Rarible saw a 585% jump in 24-hour trading volume on August 23.
RARI Foundation and Rarible Co-founder Emphasize Creator Support
Jana Bertram, the head of strategy at RARI Foundation, stated that creators are the driving force behind NFT expansion and emphasized the importance of providing them with tools and environments for success: "Our commitment is embedded in preventing the disintermediation of creators from the Web3 growth."
Rarible co-founder Alex Salnikov echoed this sentiment, stating that Web3 should be a "creator-centric ecosystem" that allows artists to thrive. The launch of the RARI Chain is a move to protect creators' earnings by enforcing royalties at the node level.
Partnerships and Support for RARI Chain
The RARI Foundation's partners, including Arbitrum, LayerZero, and WalletConnect, will actively contribute support to the new RARI Chain. Nina Rong, the head of ecosystem development at Arbitrum Foundation, emphasized the importance of fairly rewarding creators for their efforts and highlighted that royalty enforcement at the node level is a significant step towards achieving this goal.
Did you miss our previous article...
https://trendinginthenews.com/crypto-currency/kyberswap-hacker-demands-complete-control-over-kyber-company
