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.

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.

Also Read:  SVG vs PNG: Difference and Comparison

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.

Also Read:  Generative AI vs Predictive AI: Difference and Comparison

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 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

Last Updated : 30 June, 2023

dot 1
One request?

I’ve put so much effort writing this blog post to provide value to you. It’ll be very helpful for me, if you consider sharing it on social media or with your friends/family. SHARING IS ♥️

21 thoughts on “Rarible vs OpenSea: Difference and Comparison”

  1. The details about Rarible and OpenSea are fascinating. They offer unique features and have different approaches, making them suitable for different users based on their requirements.

    Reply
    • I find it intriguing to learn about the founding and structure of Rarible and OpenSea. It adds depth to understanding their operations and offerings.

      Reply
  2. The information about Rarible and OpenSea as marketplaces for NFTs is very informative. The key takeaways and comparison table provide a clear understanding of their features and differences.

    Reply
    • I agree, understanding the distinct features of each platform assists in making an informed decision about trading and selling NFTs.

      Reply
  3. The detailed descriptions of Rarible and OpenSea showcase their distinct benefits and target audiences. This allows creators and traders to make informed decisions based on their specific needs.

    Reply
    • I find the information about Rarible and OpenSea to be very thorough, enabling a deeper understanding of their functionalities and user experiences.

      Reply
  4. Understanding the significant differences between Rarible and OpenSea is vital for individuals looking to engage in NFT trading. The insights provided are informative and helpful.

    Reply
    • I agree, the focus on the number of users and the cryptocurrency used by each platform offers valuable insights into their operations and market presence.

      Reply
    • The explanation about Rarible’s concept and the unique features of OpenSea provides a comprehensive understanding of their respective offerings.

      Reply
  5. I appreciate learning about the differences between Rarible and OpenSea as marketplaces for NFTs. It’s important to understand which platform could be best depending on the user’s needs and assets.

    Reply
    • The comparison table provided between Rarible and OpenSea is quite insightful. It helps to understand their differences and choose the most suitable option accordingly.

      Reply
    • I agree, it’s essential to make an informed decision about which platform to use based on what they have to offer.

      Reply
  6. The concepts of Rarible and OpenSea, along with their integrated features, are well-explained. This helps users understand the core elements of each platform and make well-informed decisions.

    Reply
    • I believe the comparison table is especially valuable as it clearly outlines the differences between Rarible and OpenSea, enabling users to choose the platform that aligns with their preferences.

      Reply
  7. The comparison between Rarible and OpenSea is well-detailed, enabling users to make an informed decision based on the platform’s strengths and user-friendly features.

    Reply
    • The discussion about the cryptocurrency used by Rarible and OpenSea adds an interesting layer of information. It’s valuable to understand the token systems used by each platform.

      Reply
  8. The details concerning Rarible and OpenSea’s foundational and operational aspects offer a comprehensive understanding of their structures. This clarity is crucial for users considering NFT trading.

    Reply
    • I agree, the in-depth descriptions of Rarible and OpenSea assist users in making informed decisions based on their preferences and requirements.

      Reply
  9. The knowledge shared about Rarible and OpenSea’s functions and offerings is quite enlightening. It’s essential to have clarity on the differences between the platforms for successful NFT trading.

    Reply
  10. The explanations regarding Rarible and OpenSea’s features, established dates, and founders are enriching. This in-depth knowledge supports users in selecting the right platform for their NFT activities.

    Reply
    • The detailed comparison between Rarible and OpenSea is incredibly useful, providing users with the information needed to make an educated choice based on their trading objectives.

      Reply

Leave a Comment

Want to save this article for later? Click the heart in the bottom right corner to save to your own articles box!