NFTs the New Kid on the Block
With the fast adoption of NFTs, fanfare has swiftly obscured a much-needed degree of quality assurance, curation, and truthfulness in worldwide offers. As a result, there has been massive dilution in NFT listings across the market, with a slew of unregulated, untrustworthy, crowdsourced platforms accounting for nearly all NFT exchange business.
The value rationale of today’s NFT market is, by design, difficult to pin down in its purest form, particularly for independent digital artwork works. Even though there are hundreds of standalone NFT listings on multiple markets, over 90% of them have just one transaction after minting. Such low liquidity is a fantastic indicator of a missing discovery process in which new NFTs are brought to the notice of the community. To put it another way, the pure listing-for-sale model works best for NFTs in the post-discovery stage who already have a ‘branded,’ and the community desperately needs a fun, well-crafted, innovative, and gamified user experience to complete the jigsaw.
Furthermore, NFTs can become an effective marketing and advertising tools at their core, but they have yet to realize that promise. Rather than promoting a specific unit price that will be auctioned, IPs will be able to further influence their followers by using the power of the magnitude of a population interested in a certain NFT. NFTs are more persistent and technologically simpler to engage your audience in this way than more typical detached kinds of advertising since they are ownable.
RARA Ecosystem for the NFTs Market
RARA is a value discovery mechanism for NFTs, where outstanding NFTs go viral and are identified. We herald a new age for NFT aficionados by combining a gamified mystery box mechanism with an expanding NFT marketplace.
The RARA objective is to harness the power of a fully gamified NFT issuance, purchase, and ownership experience to expose the world’s top artists, brands, and IPs to the greatest worldwide audience of consumers in the most customer-friendly way possible.
The RARA system’s intrinsic value stems from the mystery boxes’ immutability and rarity hierarchy, as well as its own indigenous DEX, where IPs, treasures, and tokens may all be exchanged together in one location for the first time.
RARA has a diversified revenue plan based on stable, predictable revenue streams built into the platform organically. Each IP Box and System Box purchased by users on the site generates cash for RARA. The majority of that money is spent on burning RARA, with the rest going to the portal as a charge. IP Boxes and System Boxes will all start at the same price, but in the long term, each box can have its own pricing based on the rarity of what may be unlocked within it. In the future, the DAO and the RARA team will cast mystery box classifications for IPs such as common, uncommon, and valuable to further incentivize trade on the Marketplace, which will generate platform trading fee income.
RARA Business Model
RARA will pay and profit-share with artists and creative IPs to list their works and creations on the platform within Mystery Boxes for IP permission acquisition. When consumers use their RARA token to purchase a mystery box, a portion of the RARA token revenues is returned to the artist and IP for that specific piece. For IPs in mystery boxes, different price mechanisms will classify various rarities.
Storing valuables such as rare pets from unlocked mystery boxes also earns you more RARA by sharing a portion of the System Farm emissions each block, transforming the platform into a completely sustainable ecosystem through mystery box gamification.
Holding RARA tokens offers you voting power in the platform’s DAO, extending beyond staking and acquiring NFTs and treasures through mystery boxes. As a result, a self-contained RARA token-economic system is created, ensuring the token’s usefulness and value.
Why Rara is Different from other NFT marketplaces
The market’s existing competitors are purely NFT DEX/marketplaces with no gamification or Mystery Box feature. The critical distinction is whether or not players are invited via an invitation-only mechanism. RARA is perfectly positioned to corner a new part of the market because none of the current NFT players gives a valuation guide, and none of them has their own rarity system of varying degrees of NFT IP and unlocked treasure value.