Opensea.io NFT marketplace says it is now worth 13.3 Billion, according to Dappradar Opensea past 30 days volume was 2.52 Billion, with 360K users https://dappradar.com/multichain/marketplaces/opensea
Investors are looking for a piece of this startup as the volume keeps growing. Opensea does not have it’s own token yet but guess which other NFT marketplace does, I am talking about Rarible, Multi-chain NFT marketplace with Ethereum, Flow and Tezos integrated on Rarible.com, it has it’s own token called RARI and Rarible is considered one of the top 10 nft marketplaces in the NFT Marketplace domain.
We can see Opensea partnerships with big names like Mike Tyson, Golden State Warriors, SNL and Coca Cola on the other hand Rarible was able to attract the likes of Twitter, Lindsay Lohan, Floyd Mayweather Jr, eBoy and Marc Cuban.
In September of 2021 Rarible stole the limelight from Opensea for a short while, the platform was accountable for 61% of the total trading volume within the Marketplace category. This growth was triggered by a new incentives program paid in RARI tokens which successfully brought yield farming into NFT space.
Rarible is backed by some of the big names like Coinbase, Venrock, Parafi, Coinfund, 1kx and (01.A) and the Team behind Rarible looks solid, lead by Alexei Falin as the CEO & Co-founder at Rarible. Previously, Alexei was a Co-Founder at Sticker.Place, recently Sunil Singhvi joined as a new Chief Business Development Officer. Sunil has nearly a decade of experience working at iconic social media companies like Twitter and Instagram, where he was focused on high-level partnership development and business growth. You know what they say “A Ship is Only as Good as Its Captain and it’s Team”
So what is RARI token? you can get more info here https://www.gemini.com/cryptopedia/rarible-nft-art-marketplace-rari-coin
I want to keep this as short as possible so that you are able to get most value out of this article. Let’s talk about tokenomics of RARI, It has the maximum supply of 25 million tokens, 60% of which is reserved for rewarding platform users and 10% of which was airdropped to NFT holders in the crypto community, investors and the team received the remaining 30% supply.
Rarible market cap is only 73 million, which looks very appealing when compared to 13.5 Billion opensea valuation. I can see RARI market cap going to 1 Billion plus in the near future. RARI price today is $13.17, it’s all time high price was $45 in March of 2021. You can find the technical analysis on the links below.
Competition among the NFT marketplace platform will get intense in future, I am keeping an eye on Rarible, Theta (Theta Marketplace), SuperRare to name a few.
Opensea might come out with their own token in the future but it will be tough to see a huge upswing in price if the valuation is 13.5 Billion, as an investor I would hedge my bets with platforms like Rarible, Theta (Theta Marketplace) and SuperRare. Let the best one win. We are just at the beginning of the NFT wave, and I believe early birds will get the worm.
This not a paid post guys, I love to research and like to share it with the community on Twitter and Youtube (ShrayTV), I am in no shape or size a financial advisor, this post is the just for educational purpose only.
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Shray
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