Just days ago, Rare Protocol was activated on the Ethereum mainnet, deploying an innovative suite of smart contracts to shape the future of NFT content curation in the blockchain landscape. First engineered by SuperRare Labs, this open-source Protocol bolsters its functionalities beyond its initial user base, with Web3’s broad-based ‘art for everyone’ vision taking a share in the credit.
Factors like fluctuating and dipping NFT sales are not just responses to market cycles but imply underlying issues. One of the main hurdles includes creators needing the know-how to develop genuine authenticity and exploration amidst too many choices. So, this is where Rare Protocol comes in, providing a one-stop tool.
Rare Protocol operates as a universal hub for NFT curation. It seeks to empower Web3 creatives by supplying an on-chain data layer centered on curation, trustworthiness and exploration. Its Curation Staking system is vital in this process, enabling users to validate other individuals’ authenticity by staking Rare Protocol’s native token $RARE — to establish a trustworthy social community, simplify discovering creators, and nurture deeper connections within one ecosystem.
Curation Staking 🥩 is live on Rare Protocol!! Now is the time to be 1st to stake in the artists (or collectors!) you ❤️.
Staking will transform the SuperRare user experience. For details, read the thread below (including a “how to” video), & get started here:… https://t.co/cGIBe9Gox2
— SuperRare 💎 (@SuperRare) August 29, 2023
Technicalities Behind Enhancing NFT Authenticity and Discovery
On top of Rare Protocol’s Curation Staking are two other core elements: Community Pools and Curated Lists. Through $RARE, users can extend their backing for creatives to earn them a place in an artist-tailored Community Pool — a peer support circle that advocates for artist’s success. Once artists close deals on platforms like SuperRare, the stakers and their community pools can garner rewards to promote upcoming talent, therefore, level the playing field in the world of creativity.
The technicalities behind Curated Lists include on-chain records of all endorsed artists interacting with other lists, creating a user-friendly network that transforms how people’s art and tastes are discovered. When the Curated Lists and Community Pools grow, a far-reaching blockchain-run social graph is created, becoming a crucial commodity for developers in creating superior apps as a result.
To distill the point, this Rare Protocol NFT initiative is a groundbreaking agent for digital artists, curators and collectors. By leveraging a peer-to-peer token incentive structure, the cross-platform qualitative data layer enhances NFT market dynamics due to polishing discoverability while boosting sellers’ reputation — laying the groundwork for a pivotal new secure and creative-friendly phase in the Web3 sphere.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
Digital art fanatic who brings a unique perspective to NFT news.
