Rarible platform

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GrayRabbit
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Joined: 04 May 2021, 15:25

Rarible platform

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Rarible is a platform where any artist can post their digital art in the form of NFT and put it up for sale. Unlike OpenSea, here you have to pay a commission immediately upon creation of each NFT.

Sign up for Rarible
To log into Rarible you need an Ethereum wallet. It is an application that allows you to store cryptocurrency and NFT. Click on "Connect wallet" in the upper right corner. Rarible supports six types of Ethereum wallets.

Rarible wallet login
We will use Metamask. This crypto wallet is a browser extension. To enter, you only need to enter your password.

Select NFT type

There are two types of NFTs: "Single" and "Multiple"

After logging in, you can immediately start creating an NFT. Click "Create":
If you want the token to be in a single copy, select "Single". You will create an ERC-721 token.
In order for the token to have several identical copies, you need to click "Multiple". You will create an ERC-1155 token.
Both processes are almost the same. In “Multiple” mode, there will be only one more setting.

Upload file
You will be taken to the NFT creation page. The first item is "Upload file". Upload the file you want to convert to NFT. It can be a picture, video or audio. Supported formats are PNG, GIF, WEBP, MP4 and MP3. The maximum size should not exceed 30 megabytes.

Set price
The next three switches allow you to set the price and add paid content.
Selling nft in Rarible
Put on sale. The first switch is enabled by default. If enabled, NFT will be listed for sale and other users will be able to bid.
Instant sale price. If you enable the second, then you can select the price for the automatic sale. For example, 1 ETH. This means that at this price, any user can buy NFT right away and not wait for the seller to consider his offer.
Unlock once purchased. Next, you can add content that will only be available to the owner of the NFT. For example, a link to the original work in high resolution or an invitation to a private telegram chat. This information will be seen only by those users who buy the item and will own it. It even supports the Markdown markup language. No programming knowledge required

Create your own collection (optional)
Each collection in Rarible is not just a showcase that groups NFTs, but also a separate smart contract that releases them. By default, the token will be released in the general Rarible collection. To create a new one, you need to pay a commission for creating a smart contract in Ethereum.
If you are a beginner artist, then you will not notice any benefits from issuing tokens in a separate collection. You just have your own unique collection, for example with your name. Therefore, this step is optional. You can leave it as it is to avoid additional commission costs.

Specify NFT information

Name. This is the title of the job. You can write both in Russian and in English.
Description. The field is intended for a detailed description of the job. It will help the buyer better understand what is depicted on it. This field can be left blank.
Number of copies. The next field is the number of instances of the item. If you previously selected the NFT type "Single", then this item will not appear.
Properties. Another optional field. Here you can describe the characteristics of the item. These are the hashtags by which both you and your customers can sort items.

Select Royalty

The last field is "Royalties". Your earnings will directly depend on it. The point is that Rarible will keep 2.5% of every successful sale. The author of a work can also receive a percentage of subsequent sales of his work. This commission is also called royalties.
In this case, you will receive the full price from the sale of your NFT - 1 ETH for the first time. Further, each new owner can also sell this NFT for any price, for example, 2 ETH. But these are secondary sales, so 90% of them go to the seller, and 10% are returned to you - to the author. You will receive them for each resale.

Estimate the cost of placing

After you have made all the settings, it remains to pay a commission to sell NFT on Rarible. Even during the day, it can change almost twofold. It all depends on the workload of the Ethereum blockchain. The Gas Metasync service tracks prices for different actions on Rarible in real time. With its help, you can pay how much the work costs and choose the most favorable time for payment.

Pay Commission
If this is your first time creating an NFT, you will need to pay a "Mint" and "Approve" commission. When you create the next NFTs in the same collection, you will only have to pay "Mint".
On the creation page and click "Create item". An instruction will open, which must be followed to pay the commission.

Pass verification and get a check mark on Rarible

Let's see how to send a profile for verification. When the Rarible administration confirms our identity:

1.The works will be displayed in the search,
2.Buyers will no longer receive warnings that the seller is not verified,
3.A check mark will appear next to the avatar.

To do this, you first need to fill out the profile completely. Click "Edit profile". As with any social network, here you can customize the name, avatar, cover, description and links.
After all the settings below, find and click the “Get verified” button. The system will ask you to fill out a form of 9 questions. You need to attach links to social networks, write two paragraphs about yourself and upload your other work. The Rarible administration will review it within two weeks and either give a tick or send a response with the reason for the refusal.
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