Rari Foundation Launches Mainnet for RARI Chain on Arbitrum

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Jai Pratap

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Jai Pratap

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Jai serves as the Asia Desk Editor for Cryptonews.com, where he leads a diverse team of international reporters. Jai has over five years of experience covering the web3 industry.

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January 24, 2024 09:01 EST

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The RARI Foundation has launched the mainnet for RARI Chain on Arbitrum. Built with Caldera by leveraging an Orbit chain, RARI Chain utilizes the Arbitrum Nitro tech stack, introducing a unique feature of embedding royalties on the sequencer level.

For the launch of mainnet, Rari Foundation, Rarible, HUG, Aniko Berman and Justin Gilanyi present a series of open edition collection drops from ten digital artists, featuring Alien Queen, Amber Vittoria, Andre Oshea, among others.

RARI Chain’s Governance Will be Overseen by RARI DAO

Designed to address scalability challenges inherent in the NFT space, RARI Chain operates as a Layer 3 network on Ethereum. The strategic design allows for customizable rules and independent governance mechanisms, tailored to the specific needs of NFTs as the platform scales. Governance will be overseen by the RARI DAO, with active participation from $RARI token holders.

Jana Bertram, Head of Strategy at RARI Foundation, said in a statement shared with Cryptonews:

“The launch of RARI Chain mainnet turns our vision of creating an NFT specific, creator-focused chain, that becomes home for the creator economy, into a reality.”

Royalty Embedded NFTs for Creators

Royalties, a crucial aspect of NFT value, are embedded on the node level, ensuring creators receive fair compensation. The mainnet offers a secure environment, low transaction costs, and fast block finality, making it conducive for mass NFT projects and users.

Rari Foundation noted that strategic partners like Rarible, LayerZero, Celestia, and Arbitrum played key roles in the RARI Chain Mainnet launch, providing foundational infrastructure for creators and developers. Rarible.com aims to integrate assets seamlessly onto the RARI Chain, enhancing the user experience.

RARI is working towards establishing a grants fund and a Creator Fund, fostering community-driven NFT innovation. The successful testnet phase engaged over 46,000 wallets and processed 251,000 transactions.