From relative obscurity only a few months back, public awareness of Non-Fungible Tokens (NFTs) has risen dramatically. This has come about following their use in connection with the transaction of different types of digital content (including artworks), often for exorbitant amounts.
While NFTs are certainly on the rise, a large share of these blockchain-based collectables that we’re seeing on the market still faces two major limitations. First, are these supposedly unique NFTs provably rare? Rarity is what gives NFTs their value and it is much harder to guarantee than most people realize. The second key factor is whether NFTs can actually interact with the real world to unlock novel gameplay and incentive mechanisms. Only when we move beyond static digital collectables to truly dynamic NFTs will the blockchain ecosystem and the world realize the true value of this new unique asset class.
RARA approach of solving current NFT issues
NFTs aren’t a passing fad, not according to industry captains at least, who say they are here to stay and likely to become more and more popular in the future.
Experts in the crypto business are predicting that NFTs will be the entrance point for 40% of new crypto users in future.
A new NFT value discovery, RARA takes a different approach here, it comes with a promise of a more accessible future for NFTs. RARA aims 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.
RARA is a value discovery mechanism for NFTs, where outstanding NFTs go viral and are identified. RARA has a diversified revenue plan based on stable, predictable revenue streams built into the platform organically. Each IP Box and System Box purchased by users on the site generates cash for RARA. The majority of that money is spent on burning RARA, with the rest going to the portal as a charge. IP Boxes and System Boxes will all start at the same price, but in the long term, each box can have its own pricing based on the rarity of what may be unlocked within it.
System mystery boxes
System boxes are mystery boxes generated by RARA. As the platform NFT, they allow for user participation through gamification. Using the DeFi mining rules, each box has the corresponding computing power to mine RARA, the platform token. Each system mystery box unlocks a rare pet (a zebra, Shiba Inu, or possum) or food (zebra plant, daily necessities, or blossom fruit). After players collect a certain amount, they can unlock rarer NFTs. When they get the NFT for a rare pet, they can pledge it to earn more RARA in each block.
IP mystery boxes
IP mystery boxes are NFTs jointly produced by the platform and talented IP owners (such as artists and creators). These mystery boxes are more common in the market and freely traded by owners.
The RARA platform both pays and shares profits with talented artists to acquire IP for mystery boxes. When users use their RARA tokens to pay for a mystery box, some of the proceeds are shared with the artist. A differentiated pricing structure is used to classify the IP of mystery boxes by rarity level.
IP is the most important resource for NFT and art collection. RARA IP mystery boxes and their rules meet the IP needs of owners.
MarketPlace
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 is a more meaningful gamified way to interact with fans.
Overall, the RARA platform seeks to reduce the entry barrier for market participants making it relatively cheaper than others. A project like RARA seeks to disrupt the existing NFT marketplace and ushered the era of better adoption and future for NFTs.
