Rarible Clone to Setup Your Community-centric NFT Marketplace
A community-centric approach bestows an interdependent relationship between business and customers, leading to a purpose-led, one-for-all, authoritative, and viable business model. While real-world communities have witnessed struggles (due to the pandemic), internet-native businesses have adopted community-focused approaches. Rarible is one such internet-native (blockchain-native, rather!) business that is known to embrace communities.
Do you wish to build your NFT marketplace? What about embracing a community-centric approach? Wondering how to do it? This blog revolves around the Rarible clone that sets you off a lucrative entrepreneurial journey. Let’s get started.
📌How Do You Forge A Community?
A community is a forum where people share a commonality in the form of knowledge, preferences, and much more. Blockchain-native businesses know who their community members are — they don’t go about chasing everyone.
“Not all visitors are your community members.”
Let’s say (for instance), you own a discord community (of 100 members) interested in your NFT marketplace. If you consider all of their opinions, only one good suggestion might exactly match the company’s objective. So you may move the other feedback and feature requests down the priority list and focus on the one you chose.
Following are the three major stages of forging your NFT marketplace-based community:
⚈Acquisition
This stage of community-forging phase will give you an idea of — who is your target group and who isn’t. You’ll get a better notion of the user group you need to target with your product during this phase. You locate the members of your “real” community during the acquisition phase.
⚈Engagement
Getting the community involved in your Rarible like NFT marketplace is the most important component. Exclusive value-based content should be provided to the newly acquired community members during this period. Events, AMAs, Expert material, or anything else that enables a certain member to grow and stick with you can be used for this.
⚈Revenue
We can witness the results of the community-focused product at this phase. A community may be a USP for you or the product’s primary customer. These, therefore, aid in developing a revenue model that benefits the community and sees a natural increase in revenue. Here is where the community starts to give back on its own.
📌What’s the Role of the Rarible Clone?
Rarible is a community-owned & operated NFT marketplace platform helping people mint, buy, and sell one-of-a-kind and rare digital collectibles.
Blockchain projects generally drive on the ‘decentralization’ factor — but (in reality) — I wonder how many projects are actually decentralized. Project owners underestimate the power of decentralization. Community-centric approaches drive the decentralization factor — diversifying the ownership among each community member.
Rarible embraced that community-focused decentralization with an ‘incentivizing’ program — rewarding users with its native token ($RARI) and bestowing the most-active users with the right to vote on business decisions.
📌Rarible’s Lazy Minting Feature
One must submit data (to the blockchain) to mint an NFT. Also, it includes a ‘gas fee’ to validate transactions. Although Ethereum is the most widely used blockchain, new NFT enthusiasts hesitate to mint an NFT on it and pay this fee because there is no assurance that their NFT will become popular. That’s where Lazy minting comes in as a viable alternative — allowing them to mint their favorite NFTs without paying any upfront fees.
While building a Rarible-like NFT marketplace, you can emulate such a feature with the open-source Rarible clone on your side — lazy minting can persuade an influx of visitor-turned-customers to your platform.
📌Rarible clone Has Your Back!
Rarible clone is a pre-built & off-the-shelf solution that can help you forge a community-centric NFT marketplace platform. It will simplify your entrance into the ever-lucrative NFT space — who knows — possibly into the futuristic metaverse ecosystem.
Here are the reasons why Rarible clone script could be your tech partner when you foray into the NFT space:
🔥Flexible Auctions
When an NFT seller prefers to sell his NFT through Auction, there are two options: single & multiple auction systems. The seller reserves the sole right to choose the auction type. Also, timed auctions help the seller specify the minimum bid amount and expiration time.
🔥Multi-wallet Integration
Investors can safely keep their crypto-collectibles on NFT marketplaces like Rarible. Buyers put their priceless valuables on services like MetaMask and Coinbase wallet.
🔥Rarible API
Rarible’s API leverages real-time data and displays collectibles in the marketplace platform. Utilize the API (available on GitHub) to incorporate its native features into your platform.
🔥Revenue-generating Model
Auction fees, bidding costs, a commission on primary collectibles sales, ETH gas expenses, listing fees, minting fees, and transaction processing fees will be your direct revenue-generating options. Selling digital memorabilia of artists, brands, celebrities, and corporate entities is another way they can increase traffic.
⚈Conclusion
Communities have been the heart of the blockchain & NFT space. Giving actual value to the communities plays an important role — while doing so — you can prevent members move-on, thereby retaining a chunk of the project-native community.
Rarible clone is on a mission to bolster entrepreneurship with an influx of community-centric features & functionalities.
