This is a guide to buy RARI token from Rarible Crypto, an NFT marketplace for art and collectibles on Ethereum. RARI is unique in that it is one of the first mainstream NFT platforms that has issued its own fungible ERC20 token in the form of RARI. The stated goal is to bring more of a community ownership within the platform itself and reward collectors and artists both in addition to the broader NFT community.
In the current DeFi hype cycle, NFTs have received less attention. With the introduction of tokens like RARI, this is changing. Several DeFi enthusiasts and community members are looking into the NFT space and see RARI as a way to gain exposure to NFTs.
NFTs are much broader than ERC20s in that they can represent anything from digital art to in-game items. Therefore, it is not easy to gain exposure to NFTs broadly. NFTs also have unique characteristics like low liquidity and infrequent sales – think real estate more than stock trading. Some rare NFT items may change hands only once every several years, like some of the rare CryptoKitties (founders, first year fancies, etc.)
Also, if you have been an active NFT collector or seller on the Rarible platform, make sure to check if you got any RARI tokens airdropped. The team took the pains to go through active NFT holders and traders’ addresses on Ethereum and airdropped them some RARI at launch. This is much more valuable now than at launch.
How to Buy RARI Token
If you want to buy the RARI token, the good news is it is just like any ERC20 token instead of an ERC721 token, which is the standard for NFT assets. If you are familiar with holding and trading tokens like LEND, SNX, LINK, YFI, etc. then RARI should be similar (you can store it in your MetaMask or Ledger/Trezor for hardware wallets).
To buy RARI token, first go to 1inch to check the price and exchanges. This is because RARI liquidity is currently fragmented so you want to go through an aggregator to make sure you are getting the best price on your trade.
1inch also takes care of any conversion from one token to another. Therefore, you tend to get significantly better pricing via an aggregator like 1inch than directly on say Uniswap.
In the example above, if you are converting 1000 LINK to RARI, then you get 1614.6 RARI on 1inch as compared to 1577.1 RARI on Uniswap.
If you are starting from fiat instead of crypto, Coinbase is a good onboarding place to buy your first ETH. If you are coming from the Bitcoin world, you could go through Binance to convert your BTC to ETH and then into the DeFi and RARI worlds.
This is the RARI token address on Etherscan. Always double check this to be sure you’re buying the right token.