With NFTs increasingly becoming widespread, the RARA project was established to usher in a new era for NFT enthusiasts. RARA is expected to be a game-changer in the NFT industry by merging a gamified mystery box mechanism with an enlarged NFT marketplace.
NFT market and the current market problem
The rapid proliferation of NFTs has quickly disguised a much-needed level of quality assurance, curation, and honesty in global offerings. As a result, the market for NFT listings has been massively diluted, with a plethora of unregulated, untrustworthy, crowdsourced platforms accounting for virtually all NFT exchange business.
The value logic of today’s NFT market is difficult to pin down in its purest form, particularly for independent digital artwork pieces. While there are hundreds of solo NFT listings on multiple marketplaces, more than 90% of them have only one transaction after minting. Such low liquidity is a fantastic indicator of a stalled discovery process in which new NFTs capture the community’s attention. In other words, the pure listing-for-sale approach is only effective for NFTs in the post-discovery stage who already have a ‘branded,’ and the community desperately needs an entertaining, well-crafted, smart, and gamified user experience to complete the puzzle.
Furthermore, at their foundation, NFTs have the potential to be strong marketing and advertising tools, but this promise has yet to be realized. Rather than promoting a certain unit price to be auctioned, IPs will be able to influence their followers further by leveraging the amount of a population interested in a given NFT. NFTs are more persistent and technologically simpler to engage your audience in this fashion than more typical detached kinds of advertising since they are ownable. RARA comes with its unique solutions as a game-changer in the DeFi world.
RARA’s solutions for the NFT Market
With the value discovery technique for NFTs, RARA demonstrates its potential for rapid growth by combining a gamified mystery box mechanism with an expanding NFT marketplace.
The RARA mission is to leverage the power of a fully gamified NFT issuance, purchase, and ownership experience to expose the world’s finest artists, brands, and IPs to the broadest global audience of consumers possible in the most customer-friendly way possible.
The inherent value of the RARA system derives from the mystery boxes’ immutability and rarity hierarchy, as well as its own indigenous DEX, where IPs, treasures, and tokens may all be exchanged in one place for the first time.
RARA has a diverse revenue strategy based on solid, predictable income sources that have been organically integrated within the platform. Each IP Box and System Box purchased on the site earns money towards RARA. The bulk of that money is used to burn RARA, with the remainder going to the gateway as a fee. IP Boxes and System Boxes will all start at the same price, but over time, each box may have its own pricing dependent on the rarity of what may be unlocked within it. In the future, the DAO and RARA team will cast mystery box classifications for IPs such as common, rare, and valuable to further incentivise trade on the Marketplace, generating platform trading fee money.
RARA has a diverse revenue plan based on reliable revenue streams that are naturally baked into the platform. RARA earns money for each IP Box and System Box purchased by customers on the site. The majority of the revenue is used to burn RARA, with the remainder going to the platform as a charge.
RARA will pay and profit-share with artists and creative IPs in order for their works and projects to be included on the platform within Mystery Boxes for IP rights acquisition. When customers use their RARA token to buy a mystery box, a percentage of the RARA token earnings is returned to the artist and IP for that particular item. Different price methods will categorize varying rarity for IPs in mystery boxes.
Storing assets like rare creatures from unlocked mystery boxes also earns you more RARA by contributing a percentage of the System Farm emissions each block, converting the platform into a truly sustainable ecosystem via mystery box gamification.
Holding RARA tokens grants you voting power in the platform’s DAO, which goes beyond staking and earning NFTs and riches via mystery boxes. As a consequence, a self-sufficient RARA token-economic system is established, assuring the token’s utility and value.
Rich IP resources
RARA has formed unique alliances with some of the world’s most prestigious intellectual property owners, as well as major entertainment and media companies, all of which have a significant interest in investigating the burgeoning NFT and metaverse area.
Mystery Box Mechanism
RARA has created a mystery-box-as-a-service mechanism via which all sorts of pop culture IP series, from entertainment to sports and esports, may be minted into NFT mystery boxes and distributed to a large audience via the RARA platform.
NFT + DeFi
RARA combines DeFi with gamified Mystery Box NFT by allowing staking and yield farming to bootstrap the Mystery Box market. Farms and staking pools will be made available to mystery box owners in order for them to stake and profit, attracting early users at no expense to the platform.
RARA has created the world’s first decentralized marketplace for Mystery Boxes, enabling for the trade of dropped riches and IP NFTs within unlocked boxes, as well as the future selling of unopened mystery boxes.
RARA enables users to create their own membership level and associated enhanced perks, such as transaction cost reductions, Farm hash power boosts, and governance powers.
RARA is a Fair Launch Project, which means it does not have any initial storage or distribution of its token float and instead performs an emission of 48 RARA each block, which is available to everyone at the same time. RARA has no upper limit and runs on a burning model.
To begin, each block will generate 48 RARA tokens, with 12 divided to the Mining Pool and 8 distributed to the System Pool. In addition to tokens created, a configurable quantity of tokens will be burnt on each block, beginning with 28 RARA tokens burned. To give flexibility to the platform’s tokenomics, changes to the quantity of token produced, burnt, and distributed to Pools may occur in the future based on the voting outcomes of Governance Bills.
The RARA Token bears three roles within the RARA platform:
- Governance token: The RARA Token’s primary role is to serve as RARA’s governance mechanism. The token is designed to match incentives among ecosystem players in order to support sustainable growth and equitable governance.
- Payment & Fee: RARA Token is also used as a transaction medium. Utilizing RARA as a payment mechanism or paying fees for using RARA are examples of such circumstances. Users may use RARA token to buy and sell mystery boxes on RARA Marketplace and pay the transaction fee in RARA token.
- Incentives: To help RARA liquidity, the mystery box market and marketplace, as well as mining pools and farms, are made available to liquidity providers and mystery box owners.
Buyback & Burn Mechanism
- RARA earns income (5% trading fees) for Non-RARA sales in Secondary NFT Markets (5 percent trading fees). 70% of this money will be utilized for RARA buybacks and then burn.
- In the Mystery Box area, RARA earns income (5% trading fees) for each IP mystery Box purchased by site visitors. Half of the revenue will be utilized for RARA buybacks and then burn.
- In the Mystery Box section, set aside 30% of the entire revenue of the System Mystery Box for RARA buybacks and then burn.
- In the Mining Pool section, 5% of the Yield on Mining Pools is set aside for RARA buybacks and then burned. For RARA buybacks and then burns, there are no withdrawal costs in the pool (withdrawals are processed within 72 hours).
Existing rivals in the industry are strictly NFT DEX/marketplaces with no gamification or Mystery Box functionality. The key distinction is whether or not participants are invited using an invitation-only system. RARA is well positioned to capture a new market segment since none of the other NFT players provide a valuation guide, and none of them have their own rarity system with various degrees of NFT IP and unlocked treasure value.
Telegram Announcement: https://t.me/RARA_Announce
Telegram Chat: https://t.me/RARA_Global