Rarible - a brief insight into the world of NFT tokens

In the chaos of the current bull market, there is more and more talk about a newly emerging project called NFT which, according to many experts, can revolutionize the art, video game and even real estate market. Unlike the cryptocurrencies known to us so far, NFT tokens are unique, limited in quantity goods. They are used to create games, certificates, but also art!

Invariability of NFT tokens

The NFT non-convertible token is a kind of cryptographic token based on blockchain technology, its advantage is its uniqueness. These can be either digital assets or token versions of real assets. Because NFTs are not interchangeable, unlike bitcoin, they can perform a function as proof of authenticity and ownership in the digital sphere.

History of tokens

The NFT got loud when the game CryptoKitties was released. The game, built on the basis of Ethereum, allowed players to collect, duplicate and exchange virtual cats. Each Cryptokitty has its own unique properties such as age, race or color, and its value may increase or decrease based on the market. CryptoKitties cannot be replicated and cannot be transferred without the user's consent, even by the game developers. Users can interact with their CryptoKitties, being able to buy and sell them.

We can perceive CryptoKitties as early example of using NFT style technology. Collectively, these virtual cats have transferred millions of dollars, and some of the rare units have been sold for hundreds of thousands of dollars each.

The use of tokens

Due to their characteristics, these NFT tokens can be used by decentralized applications to issue unique digital items. NFT can either be collectibles, investment products, or something else.

The dynamically developing gaming market is no surprise today. There are also voices that the NFTs can ease or neutralize the common inflation problem. While the video game market is booming and doing well, another interesting use for NFT is real-world asset tokenization. NFTs can represent fractions of real assets that can be stored and sold as tokens on the blockchain. This has a positive impact on the development of industries such as art, collecting and real estate.


Having this knowledge, let's move on to the topic of the Rarible platform itself which allows not only to purchase virtual tokens, but also to create them! I do not need to explain how great opportunities are placed in our hands.

After connecting the website with our Etherum-based wallet, we can immediately go to the tab where various NFT tokens are auctioned. I have to admit here that when I saw this site for the first time, I was scrolling through for a good two hours and watched various works created by users of the platform.

I hope you will want to see for yourself what this platform has to offer and join the ranks of collectors or creators.