The Solana NFT ecosystem is expanding itself to new frontiers this month. After launching last week on OpenSea, the popular marketplace in the wider NFT space, Arch Rival Rarible planned integration of Solana NFTs using Rarible Protocol. This integration will be the fifth compatible blockchain part of the Rarible ecosystem. The move is likely a tactical one because OpenSea already launched its integration with the Solana platform a few days ago.
Last week, the open-source and multi-chain Rarible Protocol confirmed that it has added support for NFTs minted on the Solana blockchain and that Solana NFTs will begin appearing on its marketplace in the coming weeks.
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Rarible Protocol
Rarible Protocol is a set of tools for NFT builders that is composed of a decentralized exchange. The protocols offer NFT minting smart contracts and an open-source NFT indexer. They are compatible with Ethereum, Tezos, Flow, Polygon, and now Solana as well.
Rarible Protocol is an innovator that provides customized NFT experiences. In addition, in the partnership with Degenerate Ape Academy (DAA), it will build its direct-to-consumer marketplace. Further, it will also provide creators with the tools to bring new marketplaces to life.
In short, their goal is to provide users with an extremely personalized experience with their new integration.
The DAA community marketplace will provide holders with a number of benefits that are unavailable on aggregate marketplaces. This is a major game-changing decision as we haven’t seen anything like this for specific NFT collections. The one benefit that stands out is a fixed percentage of every sale goes directly to the Degen Ape DAO.
The Degenerative Ape Academy is a collection of 10K Solana-based NFTs, that are currently easily available on Magic Eden and have a floor price of 72 SOL. It is the second most valuable Solana NFT collection behind Solana Monkey Business.
Benefits and Competitive Advantages Rarible
As mentioned earlier, this new marketplace integration on Rarible will feature several benefits that other platforms don’t. It will feature lower fees than competitors and open-source UX. Further, there will be community-voted fees to the marketplace treasury will be featured. This will put more power in the hands of the NFT holder.
The Rarible Protocol marketplace for Degen Apes will also have enhanced liquidity by cross-listing collectibles to the Rarible.com marketplace. Finally, it will include decentralized infrastructure. All these aspects will contribute to offering the best user-friendly experience.
Rarible Co-founder’s take on Integration
Solana support isn’t a surprise—CEO and co-founder Alexei Falin told that the blockchain was on the protocol’s roadmap and that it was developing the integration internally.
To Conclude, through this partnership, Degenerate Ape Academy, and all other collections part of their ecosystem will be trading on the new community marketplace using Rarible protocol.
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