What the hell is Rarible?
Rarible is a marketplace for digital collectibles. That means you can buy digital art there, but you are not just buying copy of the image. You are buying a certified version, that is the “original” (…or limited edition)
Wait? What? How do you do that with digital images? …Enter NFTs
NFT (Non Fungible Tokens)
They sound like some sort of medication for curing toe fungus. But, no, are not that. Rather, they are akin to crypto currency. You’ve probably heard of Bitcoin, the most famous of these. There’s another kind called Etherium. Etherium however is more than just currency, it’s also a record keeping system. In the case of NFTs, the Etherium network keeps track of who owns an NFT.
So, in effect, and NFT is a virtual Certificate of Authenticity (and ownership). So if you buy the NFT, then you own the digital image that is attached to it. It’s much like owning the original of a real world painting. You own it (but you don’t necessarily own the copyright).
Buying and NFT
To buy an NFT on Rarible is not quite as straight forward as providing your credit card number. You have to use Etherium to make a purchase. That requires installing a digital wallet like Metamask, and then funding that wallet using an exchange like Coinbase.
It’s analagous to exchanging U.S. dollers for Euros, then having a special purse you use when traveling in Europe to hold those Euros.
Anyway, it’s new and interesting. Right now, I only have one work there: Sorceress and Dragon. As it cost about $45 to list a work at the moment, I’m not going to be putting much there. You can find my profile on Rarible here: https://rarible.com/danieleskridge