NFT EveningNFT Evening
    Facebook Twitter Instagram Reddit
    NFT Evening NFT Evening
    • News
      • Collectibles
      • Crypto Art
      • Blockchain games
      • Metaverse
      • Music
      • Interviews
      • Columns
    • Guides
      • Top NFT Projects
      • Top Blockchain Games
      • NFT Marketplaces and Tools
    • Learn here!
      • What is an NFT?
      • How to keep your NFTs safe
      • NFT Glossary
    • NFT Calendar
      • NFT Drops
      • NFT Conferences
      • NFT Launchpad
    • Newsletter
    NFT EveningNFT Evening
    News

    Home » News » Rarible’s Flow Blockchain Expansion Costs $14.2million

    Rarible’s Flow Blockchain Expansion Costs $14.2million

    By YoloJune 24, 2021Updated:February 1, 20233 Mins Read

    Rarible’s Flow Blockchain expansion has a price, and it’s not very cheap. The NFT marketplace has closed on a Series A investment of no less than US$14.2million, with venture capital firms Venrock and CoinFund leading the funding round.

    Rarible's Flow Blockchain expansion
    Rarible is set to land on Flow thanks to a huge round of investment

    None of this would have been likely without the exponential rise in non-fungible tokens. Rarible has been a huge beneficiary of the explosive market, with jaw-dropping growth in trading volume. A 3,000 percent increase since the platform launched early-2020, to be exact. Suffice to say, that’s only ever going to look good in the eyes of investors.

    Why is Rarible’s Flow Blockchain Expansion Happening Now?

    Over the course of this past year, non-fungible tokens have well and truly blown up. This isn’t just a matter of tangible value, either. Thanks to a relentless stream of high-profile music, artistic, and sports collections, the letters NFT are now part of the common consciousness. That means there is a very real and rapidly increasing mainstream demand for these assets.

    Rarible has so far relied on Ethereum to run its platform, and this is where the problem lies. As blockchains go, Ethereum is neither the most environmentally friendly nor the cheapest on which to mint NFTs. Each transaction relies on proof-of-work, and fees fluctuate depending on overall network demand.

    With this in mind, the move to Flow is understandable thanks to its promise of ‘gasless minting’. Not only will this appeal to people with green issues on their mind, it substantially lowers the cost of participation. And that means the very likely possibility of more people and brands getting involved with NFTs.

    Rarible's Flow Blockchain expansion
    Rarible is among the most popular NFT marketplaces

    What else is Rarible planning? 

    As with almost every organisation in the blockchain and crypto space, Rarible has a number of ideas it would like to realise in the near future. The main one here being the launch of a Rarible DAO, or fully Decentralised Autonomous Organisation. DAOs have experienced a resurgence in recent months, and among other things allow users — in Rarible’s case collectors and creators — to make proposals that impact on a platform’s future, and vote on upgrades.

    Last summer, Rarible also launched RARI, its own native governance token. This was primarily designed to reward both creators and collectors on the network, and for many months following the July launch could only be earned by using the platform. All that has since changed, meaning RARI is available to buy on several DeFi platforms like Uniswap. Some centralised crypto exchanges, such as Kraken, also trade in the token.

    NFT Market Analysis

    The non-fungible boom continues at speed, but things may not be quite so rosy in the coming years. Earlier this month reports came in that Fred Ehrsam, founder of Coinbase, has predicted 90% of NFTs will have “little to no value in three to five years”.

    If that’s not enough to put would-be buyers off, a recent analysis by Protos should do the trick. According to the crypto news website, the NFT market crash in early June 2021 is a clear sign the entire bubble has burst, or is bursting. This has led some to question whether there is an impending collapse in the value of crypto art.

     

     

     

     

     


    All investment/financial opinions expressed by NFTevening.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

    Ethereum NFTFlowNFT MarketplaceRarible
    Previous Article‘Genshiro Cats’ NFT Series is the Most Valuable in Non-Fungibles
    Next Article Aavegotchi Unveils Metaverse Plans 
    Yolo

    Yolo is simply our generic email address :)

    More great NFT Evening content:

    What is the Crypto Market Structure Bill and How Does it Affect NFTs?

    June 5, 2023

    Digital art goes A-list: Illuminate.art showcases NFTs of Lady Gaga and Snoop Dogg’s portraits by David Christopher Lee

    June 5, 2023

    The Future of NFTs as According to Gary Vee

    June 5, 2023

    Mobox goes cross-chain with MoDragons: Unleash the power of NFT dragons on the Arbitrum chain!

    June 5, 2023
    Explore, Discover, and Impact Decentraland's Marketplace with the Upgrade

    Revamped and Ready: Decentraland Unveils Upgraded Marketplace Navigation!

    June 5, 2023
    Unleash Your Creative Potential: MakersPlace's Artist Launchpad Program is Here

    Supercharge Your Digital Art with MakersPlace’s Launchpad Program!

    June 5, 2023

    Trip.com Launches Trekki NFT: Your Passport to Extraordinary Travel Experiences!

    June 4, 2023
    FC Barcelona and Plastiks Join Forces to Create Sustainable NFTs

    FC Barcelona’s Eco-Friendly NFTs: Plastic Crisis Meet Soccer Legends

    June 4, 2023

    NFTevening is the biggest website for NFT news. We cover; breaking news, upcoming mints, plus, interviews with top NFT artists and projects. Put simply, we are the best place for new and experienced non-fungible token fans — making content fun & accessible

    Privacy policy
    Terms and conditions

    Article Categories
    • Blockchain games
    • Collectibles
    • Columns
    • Crypto Art
    • Guides
    • Interviews
    • Metaverse
    • Music
    • News
    • NFT Marketplaces and Tools
    • Sponsored Content
    • Top Blockchain Games
    • Top NFT Projects
    NFT Calendar
    • Today’s NFT Drops
    • Upcoming NFT Drops
    • Solana NFT Drops
    • NFT Calendar
    • NFT Calendar : Add Your NFT Event
    Get In Touch
    • Advertise (Media Kit)
    • Job Opportunities
    • About Us
    • Contact Us
    • Newsletter
    NFT Beginners Guides
    • How to Sell NFT Art
    • How to Create NFT Art
    • How to Display NFT Art
    • How To Make Passive Income With NFTs
    • Best Crypto Wallet
    • Best NFT Coins
    • Best NFT Rarity Tools
    • What is a DAO ?
    • What Are Crypto Gas Fees ?

    Type above and press Enter to search. Press Esc to cancel.

    Go to mobile version