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With NFTs rapidly becoming mainstream, a hype has quickly overshadowed a much needed level of quality assurance, curation, and veracity in offerings globally. The result has been mass dilution across the industry in NFT listings with a bevy of unmonitored, non-credible, crowdsourced platforms leading almost all NFT exchange volume.
The value logic of today’s NFT market’s is in its purest form by design difficult to peg, especially for standalone digital artwork pieces. While there are thousands of standalone NFT listings on various marketplaces, over 90% of them barely have over one transaction after minting. Such poor liquidity is the perfect signal of missing discovery process where new NFTs get the community's attention. In other words, pure listing-for-sell model is only effective for NFTs in post-discovery stage with an existing 'branding', and the community is in desperate need for a fun, well-crafted, thoughtful, and gamified user experience to complete the puzzle
Moreover NFTs at their core can become powerful tools for marketing and advertising, but they have yet to reach that potential. Rather than hyping a particular unit price that runs for auction, exploiting the power around the size of a population interested in a particular NFT promises to be an effective way for IPs to further influence their fans. Given that NFTs are ownable, it is stickier and technically easier to engage your audience in this way versus more traditional distanced forms of advertising.
Rich IP resources
RARA has exclusive partnered with some finest IP owners, and leading entertainment &media groups which share the same strong interest in exploring the booming NFT and metaverse space. Together with RARA, they are taking the entertainment, sports, digital arts, and media to a new height by bringing the freshest NFT ownership experience which is more entertaining, sensational, and interactive. At RARA, we believe we are leading the way of bringing a new definition to 'Intellectual Property'.
RARA has built a mystery-box-as-a-service mechanism where all types of pop culture IP series, ranging from of entertainment to sports&esports, can be minted into NFT mystery boxes and dispensed to mass audience on RARA platform. Such a mechanism is a seamless way to integrate pop culture IPs with the wallets of potentially millions of people. They are also easy to organically integrate with other NFT ecosystem participants such as DEXs and IP agencies both up and downstream the industry, which is an often overlooked silo.
To bootstrap the Mystery Box market, RARA amalgamates DeFi with gamified Mystery Box NFT by allowing staking and yield farming. Farms and staking pools will be provided to mystery box owners to stake and earn so early participants are attracted at no cost to the platform.
Then through the system’s gamification and continuous introduction of brand new IP series, the platform’s audience will continue to grow with both traditional crypto and non-crypto holders encouraged to join and experience RARA’s vast stable of digital artists and brands.
RARA has built the world’s first decentralized marketplace for Mystery Boxes, allowing for both the trading of dropped treasures and of IP NFTs inside unlocked boxes, as well as potentially the trading of unopened mystery boxes in the future
In a world of web 3.0 with all data fully transparent, what actually keeps the audience loyal? Make them a part of the ecosystem. By applying DAO governance. RARA allows users to have their own membership level and corresponding augmented benefits, from transaction fee discounts, Farm hash power buff, to governance rights. Through this governance, we are envisioning a community of NFT purchasers, curators, IP owners, brands&advertisers to closely interact and collaborate with each other. With the synergy of the community, we are expecting our NFTs to become more than collectibles, but a new type of social experience.