From rarible.com to Rarible Ecosystem
Rarible is in the process of a transformation.
In July 2020, Rarible introduced the $RARI governance token, and in September 2020, we began our transition towards decentralized governance with the first proposals submitted for vote.
Up until recently, 75,000 $RARI tokens were distributed weekly to active artists and collectors on the platform (currently, 25% of that is directly to the Rarible DAO). Through this process, our hope is to create a true ownership model by distributing ownership of our network to the most valuable contributors in our ecosystem.
Over the last several months, the team has been hard at work building the Rarible Protocol, and just this week, rarible.com has transitioned to almost fully to using it. This milestone marks the next phase of our journey.
Over the coming months, Rarible will begin transitioning from being a single project (rarible.com), to a more complex ecosystem of projects building on a protocol, and governed by a DAO. What this means is not entirely clear yet, and will depend on the wishes of $RARI token holders, as well as key contributors to Rarible DAO who are in the weeds designing this future.
The journey ahead is incredibly exciting. The metaverse is being built before our eyes, and our community is among those leading the pack. For those interested in contributing, join our Discord, and say hi. There’s work to be done!
Expect more on this topic soon :)