Rarible is a software allowing digital artists and creators to issue and sell custom crypto assets that represent ownership in their digital work.
Of note, Rarible is both a marketplace for those assets, as well as a distributed network built on Ethereum that enables their trade without a middleman.
The tokens that creators generate on Rarible are known as non-fungible tokens (NFTs). Each NFT is unique, and unlike bitcoins (or other units of money), they are not interchangeable. This property is known as fungibility, which is why tokens on Rarible are called non-fungible.
The first and best known example of NFTs is CryptoKitties, a game where virtual cats could be bought and sold. These NFTs could even “breed” with one another to create new cats with different attributes represented in their NFTs.
However, Rarible is proof NFTs have since grown beyond virtual cats. Examples of NFTs found on Rarible’s marketplace include digital artworks, memes and even parcels of virtual land.
Central to the platform is RARI, Rarible’s cryptocurrency. By owning RARI tokens, users can vote on proposals that affect the platform, moderate creators and curate featured artwork.