RARA it’s a new way to revolutionize NFTs and a bright✨ in the Night Sky of NFTs marketplace, constant Technological advancements are made as the human race evolves it’s the bedrock of human civilization in the same way RARA has taken NFTs and IPs through gamification to a new era.
Blockchain technology and cryptocurrencies have made waves in the world of technology over the previous decade, with bitcoin, a digital currency being the highest performing asset class in the last ten years.
The RARA mission is to bring the world’s best artists, brands, and IP’s to the largest global audience of buyers in the most user-friendly way by tapping into the power of a fully gamified NFT issuance, acquisition, and ownership experience.
As an upcoming NFT trading platform, RARA includes additional advantages such as Defi economic form and NFT value discovery system. In terms of project governance, RARA strictly adheres to blockchain principles and implements DAO governance. This enabled the RARA to start mining from zero with unreserved mining, which truly makes the project open and fair in governance.
Through this governance, RARA is envisioning a community of NFT purchasers, curators, IP owners, brands and advertisers to closely interact and collaborate with each other. With the synergy of the community, we are expecting our NFTs to become more than collectables, but a new type of social experience.
In today’s NFT market, critical features like quality assurance, curation, and truthfulness have been drastically disregarded, resulting in non-credible, unmonitored, and crowdsourced platforms leading the way in practically all exchange volumes. It is nearly impossible to assess scarcity and popularity in the NFT market without well-structured technical curation and QA.
While there are thousands of standalone NFT listings on various marketplaces, over 90% of them barely have over one transaction after minting. Such poor liquidity is the perfect signal of a missing discovery process where new NFTs get the community’s attention. In other words, the pure listing-for-sell model is only effective for NFTs in the post-discovery stage with an existing ‘branding’, and the community is in desperate need of a fun, well-crafted, thoughtful, and gamified user experience to complete the puzzle
MODULES OF RARA
- Mystery box
- Rarity system
- IP box
- Market place
- NFT + DeFi
- DAO Governance
Mystery box
System Boxes are a mystery box generated by RARA as a homegrown NFT series to showcase the gamification experience. Each
System Box unlocks either a rare pet (Zebra, Shibu, or Possum) or a food item (Zebra Flower, Shiba Rice, Possum Fruit) to collect in bulk in order to attract a rare pet. Once a user has a rare pet NFT in their possession, they have the option to stake their NFT and earn more RARA per block as they now get a proportional piece of the System Farm token emission. Each system box NFT has its corresponding hash power by which the System Farm would calculate the reward share
Rarity system
Each System Box unlocks either a rare pet (Zebra, Shibu, or Possum) or a food item (Zebra Flower, Shiba Rice, Possum Fruit) to collect in bulk in order to attract a rare pet. Once a user has a rare pet NFT in their possession, they have the option to stake their NFT and earn more RARA per block as they now get a proportional piece of the System Farm token emission. Each system box NFT has its corresponding hash power by which the System Farm would calculate the reward share.
IP BOX
IP Boxes are transferable digital assets (NFTs) co-published by the platform and talented IP owners (such as artists and creators), and these types of mystery boxes are more common in the marketplace. Each has a value associated with it via its sale price and can be traded and sold on the marketplace once owned
Market place
RARA created a MarketPlace for the trading of NFTs and RARA mystery boxes. The platform receives a fee from each transaction, most of which is used to repurchase and destroy RARA tokens.
Mystery boxes obtained by users can be opened to obtain the NFT within, or traded on MarketPlace. They have many choices, such as direct selling the box, or selling the NFT after opening it.
The RARA platform provides a mystery box NFT game and uses DeFi rules so that users can discover new and valuable NFT series. At the same time, it gives curators a low-cost start-up platform for discovery and exploration by their own market audiences, as well as opportunities to build viable communities. For brands, it gathers loyal fans and a more meaningful gamified way to interact with fans
In later development, you can also choose not to open your mystery boxes, but sell the boxes directly on the marketplace. RARA is the first to provide such a function, which is especially useful for value-enhancing in the secondary markets on occasions like limited-time offerings of IP boxes.
NFT + DeFi
RARA amalgamates DeFi with gamified Mystery Box NFT by allowing staking and yield farming. Farms and staking pools will be provided to mystery box owners to stake and earn so early participants are attracted at no cost to the platform.
Then through the system’s gamification and continuous introduction of brand new IP series, the platform’s audience will continue to grow with both traditional crypto and non-crypto holders encouraged to join and experience
DAO Governance
The RARA platform is controlled by a DAO that votes by the community to decide on various operational improvements, additions, and modifications to the platform. Each month, the RARA platform will have a voting period for new governance proposals. RARA governance is running on a quadratic voting mechanism where RARA token holding is not directly translated into voting power. Members of the DAO community derive their voting power via staking RARA token to mint vRARA voting tokens at a ratio of 1:1
vRARA Token
vRARA is the voting token of RARA which is non-tradable but gives a user the voting power on governance proposals. Each vRARA will count as one vote towards a proposal. It also determines one’s membership level and thus determines the benefits he/she enjoys.
To acquire vRARA, a user has to stake his RARA token at a ratio of 1
RARA Tokenomics
The RARA Token bears three roles within the RARA platform:
Governance token:
The core function of the RARA Token is to be the governance mechanism for RARA itself. The token is intended to align incentives between various stakeholders within the ecosystem to promote sustainable growth and fair governance.
Payment &Fee:
RARA Token also serves as the medium for transactions. Such scenarios include using RARA as a payment method or paying fees for using RARA. Users can purchase mystery boxes using RARA tokens while buy and sell on RARA Marketplace and pay the transaction fee in RARA tokens.
Incentives:
To bootstrap RARA liquidity, mystery box market and marketplace, mining pools and farm are provided to liquidity providers and mystery box owners.
Comparative analysis
RARA stands out and is highly distinctive in its approach as compared to other big NFT markets, All of the current incumbents in the market are pure NFT DEX/marketplaces, absent of gamification and with no Mystery Box component. The main difference they share is whether participants are invited or not through an invitation-only system. None of the current NFT players provides a valuation guide, and none of them have their own rarity system of different degrees of NFT IP and unlocked treasure value, so RARA is uniquely positioned to corner a new share of the market. RARA has all the features mentioned below which no other NFT marketplaces have. It’s way better than its other competitors such as opensea and treasure land.
- Based on BSC
- NFT DEX
- Mystery box IPs
- Gamification for NFT unlocking NFTs
- The self-sustaining ecosystem of dropping treasures and earning RARA
- Mystery box Dex
