Rarible vs OpenSea: Difference and Comparison

Rarible only accepts ETH as a payment method, while OpenSea allows its users to use DAI, ETH, and other Ethereum-based tokens to buy and sell NFTs.

We live in a world with overwhelming talents. Be it in the field of technology, management, life, and art, and there are a lot of tycoons we look up to.

Art is a beautiful form of expression of emotions, feelings, memories, and much more. We all have one part of us that allows us to admire and appreciate art.

The extent of art has reached far more than paper, canvas, walls, and frescos. We have a compelling need to create digital art in this digital world.

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Key Takeaways

  1. Rarible and OpenSea are online marketplaces for buying and selling NFTs (non-fungible tokens).
  2. Rarible has a more user-friendly interface than OpenSea, which can overwhelm new users.
  3. OpenSea has a larger selection of NFTs than Rarible, making it easier to find specific items or collections.

Rarible vs OpenSea 

The difference between Rarible and OpenSea is that they have different integration and features that technically vary from each other but have similar functions and serve the same purpose.

Rarible vs OpenSea

Rarible is an online software platform that provides a lot of features and integrations for digital creators. It is a platform where creators have the privilege to sell or even issue crypto assets that signify their ownership of the work.

It enables and simplifies the process of trading and distribution of all assets without needing a middleman.

OpenSea is the first platform that was installed for the selling and transaction of digital goods. Apart from that, t is also the largest network.

It is a peer-to-peer-based platform and a marketplace to deal with cryptocurrencies and digital world assets with security and privacy. It contains games, collectables, and quite a variety of assets.

Comparison Table

 Parameters of ComparisonRaribleOpenSea 
DefinitionRarible is a community-owned platform marketplace to create a safe and secure platform that enables digital creators to trade their assets.  A platform online, a decentralized marketplace that promotes and supports selling and buying, including the trading of non-fungible tokens.
Established inIt was established in the year 2020, much later than opensea.   It was established much earlier, in 2018, and it is the first platform that enabled the trading of digital assets.
FoundersIt was established and found by Alexander Salnikov.  It was found and established by the combined efforts of Alex Atallah and Devin Finzer.
Cryptocurrency NameThe cryptocurrency of rarible is called RARI. Opensea uses the concept of ethereum blockchain.
Number of UsersIt roughly has about 11, 55k users. Approximately 20,000 users use opensea.
 

What is Rarible?

Rarible is a network that is built on a platform called Ethereum, where no middleman is involved. The creators generate non-fungible tokens.

These are unique and quite similar to the concept of bitcoins. It is nonfungible, which essentially means that they are not exchangeable or interchangeable. The cryptocurrency of rarible is called rari.

The presence of rari tokens with an individual gives them the eligibility to vote on proposals. The votes, however, have significance and tend to affect the work.

In general, it is a marketplace that is a gathering of content and digital art creators to sell, market, and distribute works in the form of cryptocurrencies.

The software qualifies the creators to buy the rari tokens only after they earn their mint tokens.

Initially, at setting up their profiles, the creators are supposed to fill out a form containing the image and pricing details of their work or creation.

After the creators set up their profiles, the platform then allows them to create a brand new token as a part of the Ethereum blockchain.

However, transferring the tokens within and between wallets is possible. These tokens are embedded and monitored closely so as to make the transaction and other processes seamless.

rarible 1

What is OpenSea?

All the assets here in Opensea are blocked by a blockchain network. It is a rapidly growing platform. The software had met with an overwhelming response of 200 million dollars from the very time when it was launched.

And more than 11 million assets have been listed and mentioned on the platform.

The site also powers the crypto asset so as to integrate and manage coin base wallets and opera.

Introduced in the year 2018, the month of January, Alex Atallah and Devin Finzer came up with the concept of nonfungible tokens, which are pretty much used in a lot of sites, and platforms dealing with digital assets and cryptocurrencies.

It has been that organization that rose to power and experienced significant growth.

Many popular influencers jumped on the bandwagon, which made the company’s name more and more popular and also added fuel to the burning fire.

NFTs have an exceptionally high value when it comes to art, which is often underestimated and misunderstood. It is a lot more than what a lot of people anticipate.

It has a value that surpasses more than 100 million dollars. Other than digital art, NFTs also have great significance.

opensea

Main Differences Between Rarible and OpenSea 

  1. Rarible faced a surge in the number of users, whereas OpenSea always is to be on the developing side.
  2. Rarible was established in 2020, whereas OpenSea was established in 2018.
  3. Alexander Salnikov founded Rarible, whereas OpenSea was established by Alex Atallah and Devin Finzer.
  4. Rarible Works on RARI, whereas OpenSea works on the Ethereum blockchain.
  5. Rarible has very few users when compared with OpenSea.
Difference Between Rarible and OpenSea

References 

  1. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3822743
  2. https://arxiv.org/abs/2105.07447

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