The Rarible Protocol, a public set of open-source tools designed to lift liquidity barriers and drastically simplify the go-to-market process for NFT developers and businesses, was announced by NFT marketplace Rarible. Notably, the protocol eliminates the need for all back-end technology development when it comes to bringing NFT ideas to life.
This advantageous tech stack provides instant access to highly desired ecommerce features, allowing crypto developers of all levels to easily deploy customized NFT storefronts and marketplaces. The Rarible Protocol, which is designed to do all of the heavy lifting, allows for the minting, exchange, and indexing of NFTs.
“Our team witnessed the time-consuming and difficult process of building optimal marketplace technology from the ground up, which inspired us to share our innovative tech stack that enables crypto novice and crypto-native developers alike to easily deploy custom storefronts,” said Alexander Salnikov, co-founder and head of product at Rarible. “Because the Protocol does almost all of the work, developers can now spread the type of front-end NFT project they want across markets, without having to do all of the back-end heavy liftings.”
The Rarible Protocol is dedicated to a community-driven network and is governed by the Rarible Decentralized Autonomous Organization (DAO), which is made up of valuable community members ranging from developers to thought leaders who hold protocol ownership and decision-making rights. DAO members have committed to assisting protocol developers in the near future by allocating funding grants of up to $100,000 to new NFT projects, ideas, and features.
Reaction$, CocoNFT, DAOhaus, MintGate, Ownerfy, Cyber, Footium, NFP, Vertex, Mintdrop, Zerion, Genies, Decentraland, Rarepress, and BlockEx have all successfully migrated to the protocol, joining 20 other projects developing applications.
“The Rarible Protocol is paving the way for a powerful DAPP interface to the NFT ecosystem. It establishes a strong open standard for NFT creation and transactions, allowing for the cross-pollination of NFT services across the metaverse,” said Jonathan Dunlap, MintGate’s founder and CEO.