How to Start With Rarible NFT Marketplace
Rarible offers a unique platform for both collectors and creators. So let's find out how to get started with Rarible NFT marketplace with all of its risks and rewards.
You’ve probably heard a lot about NFTs, the million-dollar sales were making headlines all throughout 2021. As NFTs became so popular, everyone rushed to create their NFTs and sell them. Many new marketplaces appeared, offering to trade all kinds of NFTs: game assets, music, videos, GIFs, photos, illustrations and many other things.
If you’re new to NFTs and want to start selling your works or simply trade NFTs, then you’re in the right place. Here you’re going to learn how to start your journey in the NFT space on the Rarible marketplace. It’s one of the most popular and best-performing NFT marketplaces.
But even if you decide to continue with another marketplace, you may still need this guide, as all marketplaces work pretty much the same way and when you know how to use one of them, you will easily be able to trade on other marketplaces.
Well, let’s begin our journey.
What is Rarible?
Rarible is one of many marketplaces where users can trade various NFTs including digital art, collectibles, music and video, domain names, metaverse lands, wearables and many other NFTs. When you visit the website you will notice that there is a lot of art NFTs. If you’re an artist and want to start selling your art NFTs, then Rarible is the perfect place to start.
This marketplace was created in 2019 by entrepreneur Alexei Falin, product manager Alexander Salnikov and product designer Ilya Komolkin. Today it has more than 1.6 million users and a $274M trading volume. So it offers a wide range of digital collectibles and is a great marketplace for all art collectors.
One of the reasons behind the popularity of the platform is the partnerships with celebrities and well-known brands. Actress Lindsay Lohan, boxer Floyd Mayweather Jr., social media site Twitter, fast-food operator Yum! Brands, all have created their NFTs on Rarible.
You don’t have to be a celebrity or well-known artist to start on Rarible. Anyone with a creative mindset who wants to show the works to collectors can start there. It’s a great marketplace for beginners. By the time you read this article, you will see how easy it is to create and mint an NFT on Rarible.
How to Start With Rarible
Step 1: Prepare Your NFT File/ Explore the Marketplace
Well, let’s start our step-by-step guide. The first thing you need to do is to understand what you’re going to do on Rarible. If you’re a creator, then you need to create your work or choose from the existed ones. Make sure that your work is very unique, and you have a high-quality version of it. NFT space is quite competitive so you need to show your best.
If you simply want to trade on Rarible, then I’d suggest exploring the marketplace. Look at the works and make sure it’s the right marketplace for you. On Rarible you can find many kinds of NFTs and especially NFTs related to art and music. So if you’re an art collector, then Rarible is perfect for you. But if you want to trade game assets I’d suggest you look at other marketplaces too.
So, whatever you’re going to do, it’s better to have a plan and goals. NFTs are not cheap so if you really want to enter this space, then you need to understand it very well.
Step 2: Create a Digital Wallet
If you head to Rarible, you will see this page. There is no “sign up” button and you don’t need to add your email or phone number to register an account.
Choose the Blockchain
All you need is a digital wallet. When you click on the “Create” button, you will see that Rarible offers you three options of blockchain – Ethereum, Tezos and Flow. First, choose on which blockchain you want to work. If you choose Ethereum, then when you buy an item and don’t have enough funds in your wallet, you can use a credit or debit card. But if you choose Tezos, you won’t have this option and your wallet needs to have a sufficient amount of funds to buy an NFT.
Depending on the blockchain, Rarible supports different wallets. Ethereum wallets are:
- Mobile Wallet
- Coinbase Wallet
Tezos users need to have a wallet supported by Beacon. Here are the Tezos wallet options:
- Temple Wallet
- Kukai Wallet
- AirGap Wallet
And for Flow, you’ll need a Blocto wallet. Choose the one you prefer, or if you already have a digital wallet no need to create a new one, you can skip these 2 steps and head to step 4.
Create Your Wallet
We’re going to use MetaMask wallet. All wallets work pretty much the same, so the process will be similar whichever one you choose.
Go to the MetaMask website and click the “Download Now” button.
Then click on “Install MetaMask for Chrome”. You’ll be headed to the chrome web store where you need to click “Add to Chrome”.
Then click “Add Extension” and you’ll be headed to another page. Go through the page and click “next”. You will see a “Privacy Notice”, read it and click the “Accept” button.
The same way accept the “Terms and Conditions”.
In the next step, you need to create a password. Make sure to choose a secure one and when you do click on the “Create” button.
After that MetaMask will give you a seed phrase. This is a 12-word secret phrase that you need to keep in somewhere safe. When you have problems with logging in with your password, you can use the seed phrase to recover. So, keep it somewhere safe. Then click the “I’ve copied it somewhere safe” button.
And that’s it. You’ve successfully created your crypto wallet.
Step 3: Connect Your Wallet
Go back to Rarible and connect your wallet to the marketplace. You’ll also need some funds whether you want to mint an NFT or buy one. But if you’re just exploring the space, you can always add funds during the process of minting.
So click on the “Create” or “Sign in” button, choose the blockchain and then connect your wallet. When you have a MetaMask wallet extension installed, you will see a pop-up asking you to connect your wallet. And you can directly connect it with a few clicks.
P.S. Note that many websites may ask you to connect your wallet when you have an extension. Make sure it’s a trusted website, otherwise never connect to it. Malicious websites may get access to your funds and steal them. Be cautious.
Step 4: Create an NFT
Now we’re heading to the most interesting part: how to create an NFT. When you connect your wallet, you will be headed to this page to create your first NFT. If you don’t see it, just click the “Create” button again.
You can choose to sell your NFT one time or multiple times. For one-of-a-kind NFT, you need to choose the “Single” option. If you want to sell your item multiple times, then choose the other option.
Then you’ll have to upload your file and choose from the selling options. You have three options: “Fixed Price”, “Open for bids” and “Timed auction”.
- If you choose “Fixed price” you will need to set a price and if someone wants to buy it at that price, they can buy it.
- Choose “Open for bids” if you want the buyers to offer the price which you can accept or reject.
- For “Timed auction” you set a minimum price and the start and end date and wait for the buyers to bid.
After this, you need to fill in all the necessary information such as Title, Description, Royalties. Note that you can’t change the name and description later, so try to write an appealing text. This is your chance to show how unique your file is, so think well before writing.
What refers to royalties, try not to set it too much, as buyers won’t want to resell your NFT. It’s 10 percent by default, but you can make it to 20 or any other number.
This is what it would look like.
There is a very interesting option in the end called “Unlock once purchased”.
It allows you to add some information or additional file that only the buyer will have access to after the purchase. You can add some secret valuable information or a higher-quality version of your work, or additional files, etc.
When you’re satisfied with your NFT, its price and descriptions, click the “Create Item” button. A new window will appear where you need to mint your NFT and pay the gas fees for minting.
A MetaMask pop-up will come up by displaying the minting fees. You need to click on the “Confirm button” and then on the “Save” button.
You’ll need to wait a few minutes until the transaction is confirmed, then “Sign the sell order” becomes available.
Click on it, then confirm and wait some minutes until “Sign lock” becomes available. When it does click on it, then confirm the transaction and you’re all set.
That’s it, you’ve created your first NFT on Rarible. I hope you will easily sell it
As you see, the Rarible NFT marketplace is quite easy for beginners. The process is very simple and it will take you only a few minutes to register and mint an NFT.
Though note that NFT space is becoming more and more competitive and if you want to succeed you need to create very unique works. And then maybe you’ll become the next Beeple.
And finally, if you want to start trading NFTs, then now is a perfect time, as they are still on the rise and everyone talks about NFTs. It’s hard to predict how the market will change, so don’t hesitate and start right now.
Wish you all good luck.
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