Quick take:
- Rari Chain will be governed by Rari DAO with active involvement from RARI token holders.
- The chain embeds royalty payments on the node level guaranteeing creators a fair compensation for their works.
- Since its testnet release, Rari Chain has connected 46k wallets and completed over 250k transactions.
Rari Foundation, the non-profit organisation behind Rarible on Wednesday announced the release of Rari Chain mainnet on Arbitrum. Rari Chain is an Ethereum Virtual Machine (EVM)-compatible layer-3 that embeds NFT royalties on the sequencer level powered by Arbitrum.
This sidechain gives creators control of their creative works by ensuring they receive fair compensation for their contributions. For the launch, Rari Foundation, Rarible and others have teamed up to drop a series of open-edition collections, featuring works by Alien Queen, Amber Vittoria, Andre Oshea, Ed Balloon, Jimena Buena Vida, Lindsey Byrnes, Ottis Ots, Saideart, Techkeyz, and Trizzy Trunk.
Rari Chain is built with Caldera, a no-code Web3 infrastructure platform built on Orbit Chain and powered by Arbitrum’s Nitro tech stack. The new sidechain is specifically designed to address the scalability challenges related to the NFT ecosystem.
Rari Chain is governed by Rari DAO with active involvement from the $RARI token holders. The chain embeds royalty payments on the node level guaranteeing creators a fair compensation for their works.
Commenting on the mainnet launch, Jana Bertram, Head of Strategy at RARI Foundation said: “The launch of RARI Chain mainnet turns our vision of creating NFT specific, creator-focused chain, that becomes home for creator economy, into a reality. We’re excited to provide the ground for innovation and new NFT use cases, and welcome a new wave of NFTs and projects, by offering a new decentralized infrastructure tool to the web3 community.”
Rari Chain launches with participation from multiple strategic partners including Rarible, LayerZero, Celestia, Decent, Thirdweb, WalletConnect, Rainbow, Zerion, Magic, SimpleHash, Gelato, Caldera, and Arbitrum.
According to press material provided to NFTgators, the chain has already engaged with 46,000 wallets and completed more than 250,000 transactions in testnet, which launched on November 30, 2023.
Alex Salnikov, Chief Strategy Officer and co-founder of Rarible commented: “Royalties are a crucial part of NFTs’ value proposition. RARI Chain makes it impossible to circumvent this value. Code is law, and you can know with confidence that your royalties are guaranteed if your marketplace is deployed on RARI Chain. We are proud to lead the way as we continue to stand with artists and creators at Rarible.”
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