Rarible is a marketplace to sell, buy, or mint a new collectible, game cards, rare digital items, images, videos, digital arts which reside in their digital form but the ownership of each item is confirmed in the blockchain. This site as of now uses its own token RARI but it also accepts Ether. They also have an interface with OpenSea where items collected and maintained in Rarible can also be viewed in the OpenSea website. Since this site is built on the ERC-721 smart contract, it allows for the burning of tokens as well in addition to selling and buying. Let us look at how to create your own NFT and list it in Rarible using Ether or Rari token.
Step by Step Guide
1. Click on create on the top right corner of the page to create your own collectibles or NFT. 2. Once you click on Create, you will get the below page3. You can either create one or a collection, let’s look at it one by one. After clicking on Single you will see the below. The same goes for Multiple as well, it’s just that you are allowed to keep several copies of your NFT in Multiple. 4. When you put in all the details, it by default picks up Rari as your collection, but you can also create your own ERC-721 token, 5. On click of Create ERC-721, it will ask you to connect to your wallet,6. Once clicking on Connect Wallet, it will list you few options, out of which we will choose what we are accustomed to or install one of them. I will pick Metamask as I already have one in place.7. Metamask window pops up and you need to sign in and click on Next 8. After clicking on Next, it pops up the terms and policies which need to be checked along with the age control.9. Once Proceed is clicked, it takes you to the actual create a single collectible page and the item is created.10. Once creating the item, it will ask you to connect to your wallet and approve the transaction with gas fees. Post that you have your NFT minted.11. After minting, you can start selling or keep it with you and enjoy the ownership.
So, this is how you mint and list your NFT in Rarible with either Rari or Ether. If you happen to create an item and put it in the marketplace, the minimum royalty you get is 10% and you can increase it per your wish. It means that when it moves to another owner and he/she places a bid and sells it for whatever price you get a 10% cut every time the ownership changes. Cool yay!