Rarible sponsors the NFT Hack powered by ETH Global that will run March 19th-21st with $20k+ in total prizes. For the hackathon, the team will pre-release Rarible NFT protocol.
At Rarible, we are moving towards the vision of a fluid, interoperable, diverse NFT market. With DeFi applications, we have seen how interoperability is pushing the entire space forward. NFTs are taking the same path: projects like NFTX, Ether.Cards, Charged Particles show how financialization is contributing to the ecosystem’s growth.
So far, we have only dipped our toes into what’s possible, and the NFT applications go beyond the imaginable.
To facilitate the development of the space, we will be shortly launching open source Rarible protocol. The core parts of the protocol will be pre-released this week for the NFT Hack hackathon that Rarible supports as a sponsor with $5k in prizes. With this participation, we’re looking to raise awareness and to see the community build first applications on this infrastructure.
Rarible protocol: pre-release on the NFT Hack
We’re creating a robust open source on-chain protocol for everyone, designed for NFTs to exist in a connected space. As a separate initiative with a dedicated team, it will enable direct interactions with the protocol from multiple front ends like storefronts, marketplaces and wallets. The protocol will offer additional distribution channels, enhance liquidity, fuel the creation of multiple projects for the NFT market and the discovery of new NFT trading mechanics.
Rarible protocol will offer an easy minting tool, IPFS storage, exchange, indexer, and much more.
Rarible marketplace is currently running on the protocol version 0.1. We’re getting to launch the version 1.0 which we will adopt in a month from now.
For the hackathon, we are pre-releasing 3 core parts of the protocol tooling for developers:
- minting (ERC-721, ERC-1155)
- custom royalties
- “lazy” minting that allows you to store an item on your back end and mint upon the actual sale
- upgradable assets contracts (via beacon proxy): once you started building with Rarible protocol, you evolve with us.
- exchange contract
- any combination of ERC-721, ERC-1155, ERC-20 swaps
- arbitrary front end fees
- multiple royalties with arbitrary addresses & value
Upcoming features in the full release include collaborations, bundles, different types of auctions, and more.
- indexer This tool will allow users to interact with protocols, access contracts and query data (by creator, owner, collection, etc), available via API.
- Index of all the ERC721 and ERC1155 assets ever created on Ethereum chain
- NFT Provenance: transfers, sales
- NFT Metadata storage
Why build on Rarible protocol?
1) Supply and demand of the entire Rarible ecosystem Rarible is one of the biggest NFT marketplaces out there with over $64 million in total lifetime volume and 57k monthly protocol users, slick UX and a variety of use cases across industries. You can utilize the shared orderbook with Rarible and get additional exposure.
2) Advanced & robust tech For the past 1,5 years, we have been heads down developing the infrastructure for the NFT market. These tools provide access to a wide functionality and data on all the NFTs created.
3) First mover advantage
Rarible is currently running on the protocol version 0.1. We will migrate to version 1.0 in a month from now. It is a good time to starting building your project on the new ecosystem and keep growing with us as the protocol goes live.
4) Monetization Rarible protocol enables arbitraty front end fees: you can additionally monetize your creations.
5) DAO and the network Rarible is steadily moving towards becoming a fully operating decentralized autonomous organization. The DAO will offer multiple opportunities for creators to get funding and exposure, incentivizing people building on top of the protocol. We expect the DAO to reward the early builders.
NFT Hack prizes & activities
As a sponsor for the NFT Hack, we’ll be allocating $5k in prizes to the best projects developed using Rarible protocol:
1st place: 2500$
2nd place: 1500$
3rd place: 1000$
- Plugin to the protocol (e.g. storefront for a custom NFT drop)
- Improving the protocol itself (e.g. on-chain order book)
- Building cool NFTs that can be tradable on Rarible
List of Ideas
- Custom Auction Mechanics
– Timed Auction
– Open Auction
- Lootboxes: random item drop
- Generative Drops (custom ERC-721 that gives you a new item each time sale is done)
- Custom Dropfront
- NFT Index (DAO Based NFT index) MolochDAO-style index for NFTs. Everyone can apply to the index with their NFT and a specific price for it.
- NFT Lending
- NFT Renting
- NFT With an Expiry time
- NFT Pre-order (funding of the future nft)
- NFT ↔ NFT SWAP
- ERC20 NFT OTC (wrap your ERC-20 Tokens inside an NFT to create an OTC market for less liquid tokens or even vested tokens or portfolios)
- Contract Ownership NFT (sell your wallet)
- Affiliate Program (referral program)
- NFT Launchpad
- Selling NFTs on a bonding curve
- Private Metadata (you can only receive NFT metadata if you have another NFT)
- NFT Subscription (Sublier or Superfluid Streaming)
- Anti-Fraud (Seller Trust Rating, Images search)
- FLOW Bridge
- Integrations with any other protocol like NFTX
- Publishing service (push an NFT to every marketplace)