Rarible Protocol has announced that it is teaming up with Robotos NFT to create a custom NFT marketplace for the 10K collection. This is a major upgrade for the popular NFT collection and its community. But what is the Rarible protocol and is a custom Rarible marketplace better for robotos than OpenSea and other 3rd party marketplaces?
Why is Robotos launching a custom marketplace with Rarible Protocol?
Robotos is a popular 10K NFT collection created by renowned artist Pablo Stanley. The collection has a current floor price of 0.27 ETH and has seen 15.4k ETH (about $27.7 million at current prices) in secondary volume so far.
Thanks to Rarible Protocol, Robotos now gets its own NFT marketplace. This partnership gives the family-friendly NFT collection its own home in the wider NFT world.
This partnership plays a particularly important role in Rarible’s mission. Namely, to improve the experience for Web3 communities. It hopes to do this by giving them the tools to create bespoke platforms. Of course, NFT projects like Robotos can get a lot out of a custom marketplace that they would miss if they stuck with larger marketplaces.
Could a custom NFT marketplace be better than OpenSea?
A few weeks ago, Rarible published a blog post titled “Why Community Marketplaces are the future of NFT trading”. In summary, Rarible argues that community marketplaces give NFT projects great advantages over third-party marketplaces.
To list this, this includes custom branding, lower fees and peace of mind that the NFT you are buying is from the official collection. NFT projects using the Rarible protocol can even vote on their marketplace’s fees and decide what portion of trading fees goes back into the community/DAO treasury.
Alex Salnikov, co-founder of Rarible, spoke about the platform’s approach to community marketplaces in an exclusive commentary on NFTevening.
“We believe that custom community marketplaces are critical to a sustainable, thriving NFT ecosystem. While most digital assets today are only listed on aggregated marketplaces, our team understands that new consumer needs are emerging and that a safe space to connect with like-minded people and empower Web3 communities overall is necessary to drive the space and further to fulfill its ethos of decentralization.”
As a result, Rarible Protocol has already provided a marketplace solution for some notable NFT collections. In fact, CryptoPunks V1 and Solana’s Degenerate Ape Academy both have their own marketplaces powered by the Rarible Protocol.
What is the Rarible Protocol?
The Rarible Protocol is an open-source, cross-chain, community-managed NFT protocol. In other words, it gives NFT developers a streamlined way to get their projects to market. In addition to creating marketplaces for projects like Robotos, Rarible has also worked with some of the biggest players in Web3. For example, it’s partnered with Polygon, Immutable X, and Flow to name a few.
Salnikov said about adding Robotos to Rarible’s partner list:
“We are very excited to be working with the Robotos team as they open their own home in the Web3 world and look forward to supporting them as they continue to build and strengthen their community.”