RARI Foundation has taken a momentous step into the world of NFTs with the launch of the RARI Chain mainnet on the Arbitrum network.
This new chain, based on Arbitrum, operates as a Layer 3, enhancing the scalability and other characteristics of a Layer 2, with the main objective of safeguarding NFT royalties at the node level.
The RARI Chain is LIVE on mainnet 🚀 We can't wait to see which new ideas and projects will be built on the chain that embeds royalties at the node level. https://t.co/t0V87YsOcU
— RARI Foundation (@rarifoundation) January 24, 2024
RARI Chain’s innovative approach is unique as it seeks to preserve NFT royalties by embedding them directly at the node level.
This not only improves the security of transactions, but also guarantees the rights of creators in the growing NFT ecosystem.
Jana Bertram, Head of Strategy at the RARI Foundation, expressed her excitement, stating that:
“The launch of the RARI Chain mainnet makes our vision of creating a creator-centric, NFT-specific chain a reality.”
Bertram stressed that they are excited to provide fertile ground for innovation and new NFT use cases, offering the web3 community a new decentralized infrastructure tool.
This exciting launch is not only about the implementation of new technology, but also marks the beginning of a unique collaboration.
Coinciding with the mainnet launch, the RARI Foundation has organized an NFT drop in collaboration with ten digital artists, Rarible and other key players in the NFT space.
This event not only celebrates the launch, but also highlights the foundation’s commitment to the creative community.
Before launching on the mainnet, RARI Chain went through a testnet on November 30, 2023
During this stage, approximately 46,000 wallet addresses joined the testnet, performing around 251,000 transactions.
These numbers testify to the interest and significant engagement that RARI Chain has generated in the community.
In addition to the innovative technology, the RARI Foundation has introduced its native token, $RARI.
With a total supply of 25 million, the price of $RARI stood at $1.28 on January 24, at the time of writing, according to official data from CoinMarketCap.
The foundation’s treasury, valued at almost $8 million, is made up of around 6.3 million $RARI.
The governance of the RARI DAO, backed by the $RARI token and its holders, will oversee the continued development of the RARI ecosystem.
The RARI Chain mainnet launch on Arbitrum represents an exciting milestone in the NFT space.
Not only does it introduce revolutionary technology to protect creator royalties, but it also highlights the RARI Foundation’s commitment to innovation and collaboration in the burgeoning world of digital assets.
