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The Rarible marketplace is surging. Let’s learn how to use it!
The 12th largest marketplace in the NFT space is climbing up that list. Rarible has seen a 161% rise in total volume over the last 7 days. The platform has 1.6 million total users creating and trading NFTs on:
- Ethereum
- Flow
- Tezos
Let’s learn how to get in on this action and give users another option when it comes to collecting their NFTs. This process is similar to our OpenSea guide. For a specific guide on the most popular NFT trading marketplace, click here.
Create an Account
First, click create an account and sign in with your wallet of choice. MetaMask is usually the best option when dealing with ETH NFTs, but choose whatever you are most comfortable with.
Accept the terms and conditions and ensure that you are over 13 years old. After this, you are ready to go.
Create an NFT on Rarible
Click create at the top of the page.
Select the chain you would like to mint on and click create. If you want to mint an NFT on Flow or Tezos, you need to connect a wallet that supports those chains. See the Create an Account section for a list.
Next, choose if your NFT is going to be a single edition or be a multiple edition collection. Upload your file and fill out the corresponding selling information. This includes:
- Auction style
- Price
- Unlockable content after-sale
- Royalty fees
Most importantly for creators, they need compensation. With NFT sales being peer-to-peer, they need to attach a royalty fee to each transaction. With Rarible, creators can collect up to 50% of each transaction as a creator royalty. They can also attach a 0% royalty to the collection sales.
After filling out all the information, click create item and pay the necessary fees. That’s it. You have created your own NFT collection!
Buy NFTs on Rarible
Buying NFTs on Rarible is just as easy as OpenSea or any other NFT marketplace. Sign in and make sure your wallet is funded with ETH, FLOW, or XTZ. Markets they are available on can be found here. After buying on one of these centralized exchanges, send the currency to your wallet. At this point, you are ready to buy.
Interestingly, and important for non-crypto native collectors, Rarible displays most values in fiat. So instead of ETH as the main volume currency, USD is the go-to for this platform. You can see floor prices in dollars, which puts these collections in values a lot of people can easily understand.
Click on the collection you would like to buy from, and then either place a bid with WETH or buy now for the listed price. Eligible users can also add funds and buy with a credit card, using SendWyre. After signing for the transaction, the transaction should complete within a few minutes.
Sell NFTs on Rarible
Selling NFTs is just as easy as buying them on this platform. Go to your profile and select the NFT you would like to sell. Next, click the “Put on Sale” button. Select the type of sale from:
- Fixed price
- Open for bids
- Timed auction
Finally, set your price and sign for the transaction. You can select the type of currency your sale can be bought with. This ranges from ETH to WETH to USDC and more. Make sure you select the type of currency you would like to receive.
That’s it! That’s all you need to know to buy, sell, and mint NFTs on the Rarible marketplace!
NOTE: Remember always to do your research, make your own decisions, and invest in projects that interest you!