Rarible DAO updates - Week of August 9 2021
We officially launched the Rarible Protocol, discussed with various guest speakers, and have updates from Creator Collective.
This newsletter covers important updates going on in the ecosystem (most importantly, the weekly community call). You can re-watch them on our YouTube channel or by checking out last week’s video below.
Governance Proposals
The official launch of the Rarible protocol
Last week we officially launched the Rarible Protocol. The Protocol is the set of tools, smart contracts, and an indexing solution initially built by rarible.com. Using the Rarible Protocol, applications can reuse these building blocks, allowing them to speed up their time to market, focusing on what they do best.
We want to thank all the people who worked on making this happen! Check out the new website here.
We had a few guest speakers over during our community call. They shared why they are so excited about the Rarible protocol!
Jake Brukham from Coinfund highlighted that as a protocol we are creating much larger stickiness and network effects. A centralized marketplace cannot compete with that as it can’t build as fast as all the ideas on the open market. Rarible Protocol enables entrepreneurs and developers to go to market fast. In the past, the lack of infrastructure or the need to build the whole stack was holding them back. Now they have access to a really solid backend, a set of tools they can build on top of: the Rarible Protocol.
Jonathan from Mintgate explained that by using the protocol, their team can focus 100% of the engineering resources on their value add, which is building up a platform for doing universal content gating of unlockable content. Mintgate can thus become an additional lego block, useable by others as well. The Royalty system native to the Rarible protocol is key here as it ties everything together and enables the creation of a royalty chain through the lego layers. These legos can be monetized through royalties and splits.
CocoNFT is using the protocols lazy minting feature. Reid highlighted that artists do not have to spend any money to mint NFTs. Furthermore, as there is a shared order book on the protocol, CocoNFT receives royalties when artists use their novel minting tool, even if the sale happens on other marketplaces such as rarible.com.
Skogard, is building Rarepress, an SDK for the protocol. He has been a strong advocate for the open-sourcing effort. He feels like today the NFT space is quite siloed. There are many marketplaces, with their own royalty systems similar to AOL and Yahoo, where marketplaces are competing for attention. He believes that enabling others to capture attention as a platform and aggregator is key to scale. The protocol wants to do just that.
Cyber allows artists and collectors to showcase their NFTs in spaces. They aim to be as frictionless and interoperable as possible. Ryan explained that they chose to build on the protocol as it will allow them to tap into many of the existing marketplaces and platforms. Furthermore, they would love to use royalties/splits, at some point in the future. This will allow them to split up fees with the users when these lease out spaces to people who want to showcase their NFTs. Furthermore, Ryan believes in the power of network effects, and he found a strong community around the protocol.
Finally, Alex shared his view on the next steps. In the next 6 months, we want to continue on our journey, making sure that the NFT infrastructure we built is unstoppable, credibly neutral, and resilient. We’ve made big steps by open sourcing the protocol, with app-mining, and with our DAO working groups. We will take this one step further, with staking, by moving to fully on-chain voting, and by making this a fully community-owned infrastructure.
Project updates
Background: Creator collective is a community of artists exploring tools in the web3 and NFT space. They aim to be the go-to place for artists of all stripes to onboard into the vast and wonderful world of crypto. With its ongoing campaign, Creator collective wants to inspire, educate and expand artist engagement by showcasing artists that are doing great things in the space.
Update: The team has just launched the level-up NFT art competition. See the details below.
#LEVELUP CONTEST GUIDELINES:
⚡Campaign Opens August 16th
⚡Submission Deadline August 30th
⚡Winners announced Sept. 3rd
QUICK CONTEST OVERVIEW:
1️⃣ Get inspired and watch our Interview with Metageist ->
2️⃣ Create your art (Theme is Digital Creatures of the Metaverse) + Mint your NFT on Rarible.com
3️⃣ Submit your NFT by August 30th -> https://forms.gle/p7FH7CEKvGmmv3Bj6
4️⃣ Share your submission with the community: please use #levelup and tag us on Twitter: @cc_nft Instagram:@creatorcollectivenft
Read more here.
Thanks everyone! Remember to join the conversation on Discord, or in our Forum :)