### What is RARI?

RARI is an Ethereum token that powers Rarible, a community-owned marketplace for creating, selling, or collecting NFTs. Its primary purpose is to govern the Rarible protocol and RARI Chain, and to control the RARI Foundation treasury.

### How does RARI work?

RARI operates on the Ethereum blockchain and uses the Arbitrum Layer 3 (L3) technology for its RARI Chain. It follows a Proof of Stake (PoS) consensus mechanism, inherited from Ethereum's security model. RARI Chain utilises EVM-compatible smart contracts to enforce node-level royalties for NFT transactions, which are reverted if royalty payments in ETH or ERC-20 tokens fail.

### What are the potential use cases for RARI?

RARI has several real-world applications including:
- **NFT Marketplace**: Powering a community-owned platform for NFT transactions.
- **DeFi and NFTs**: Supporting various earning opportunities for creators.
- **Digital Art**: Facilitating direct sales of digital artworks as NFTs.
- **Virtual Property**: Documenting virtual property rights with minimal paperwork.

Notable projects utilising RARI include BotFrens, Mattel, Mocaverse, Footprint Analytics, and Ledger, spanning sectors like digital art, DeFi, and NFT marketplaces.

### What is the history of RARI?

Rarible, the platform behind RARI, was co-founded by Alex Salnikov and Alexei Falin and launched in early 2020. It received initial funding from CoinFund, with a marketplace launch on Ethereum Mainnet in 2019. The RARI token was introduced in July 2020 as the first governance token in the NFT space. The platform has seen significant growth and evolution, including the introduction of Marketplace Liquidity Mining and the expansion into a DAO with various working groups.

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