Rarible Expands to Tezos Blockchain with Support for NFT Purchases
It is reported that the NFT market Rarible announced the expansion to the Tezos blockchain. The Rarible aggregation tool will also support the purchase of NFT …
It is reported that the NFT market Rarible announced the expansion to the Tezos blockchain. The Rarible aggregation tool will also support the purchase of NFT based on the Tezos blockchain in markets such as Objkt and Teia, fxhash and Versum. It is reported that Rarible will comply with the creator royalty policy of all Tezos NFT markets.
NFT market Rarible announced support for Tezos blockchain
Interpretation of the news:
Rarible, the popular marketplace for non-fungible tokens (NFTs), has announced its expansion to the Tezos blockchain. In addition to supporting the purchase and sale of NFTs on its own platform, Rarible is now integrating with other Tezos-based marketplaces like Objkt, Teia, fxhash, and Versum. By broadening its reach and offering greater accessibility to new markets, Rarible seeks to position itself as a leading NFT platform for artists and collectors alike.
One of the notable features of the Tezos blockchain is its support for smart contracts, which are self-executing contracts that can automate various processes and conditions. Rarible’s expansion to Tezos will allow artists and other creators to leverage this technology to enforce their intellectual property rights and ensure fair compensation for their work. This is achieved through the implementation of a creator royalty policy, which provides a share of the revenue from NFT sales to the original creator of the work.
By complying with the creator royalty policy of all Tezos NFT markets, Rarible aims to establish trust and credibility with its user base. This policy ensures that artists are appropriately rewarded for their contributions to the NFT ecosystem, which has seen explosive growth in recent months. In addition, Rarible’s support for multiple marketplaces on the Tezos blockchain makes it easier for collectors and investors to find and purchase the NFTs that interest them the most.
Overall, Rarible’s expansion to the Tezos blockchain represents a significant development in the NFT space. With its broadened reach and enhanced support for creator rights, Rarible is poised to take advantage of the growing demand for NFTs and establish itself as a major player in the space. Key takeaways from this announcement include the importance of creator royalty policies in ensuring a fair and sustainable NFT market, the potential benefits of blockchain technology for streamlining the sale and distribution of digital assets, and the continued growth and innovation in the NFT space.
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