Reports said that Rarible, an Ethereum-based nonfungible token (NFT) marketplace, has announced its platform upgrade to Rarible 2 on October 20.
It has been reported that Rarible is introducing new aggregation tools to showcase NFTs from across the Web3 space. This means users can browse and purchase Ethereum-based digital assets from Rarible, OpenSea, LooksRare, X2Y2, and Sudoswap.
Alex Salnikov, the Chief Strategy Officer and Co-Founder of Rarible, said:
“It creates an open environment where users can access the best prices for NFTs all through one interface.”
However, this development from Rarible comes after a report from DappRadar, which hinted at impending NFT “marketplace wars.” DappRadar’s report highlighted other major platforms in the Web3 space such as Uniswap and OpenSea, both of which acquired NFT aggregator platforms this past year.
The report said that while OpenSea and Uniswap acquired outside aggregators, Rarible simply transformed its services to an aggregation-based model. Such acquisitions could stir up direct competition between platforms.
Likewise, Rarible also introduced a mechanism in which users can lock up their RARI, the native token of the marketplace, to earn rewards and incentives for ecosystem participation. Salnikov said this is a step toward further decentralization of the platform.
“Users get to make decisions on where the ecosystem goes next. They have a say in Rarible’s future and that’s something you can’t get with just funds or an NFT.”
Thus, earlier this year, the Rarible marketplace was saved by researchers from a potential major security breach.