Rarible has cemented its commitment to NFT royalty enforcement by launching a testnet for an EVM-compatible chain with embedded royalties on the node level.
The RARI Foundation, the nonprofit arm of the Rarible ecosystem, officially released a testnet for an
EVM-equivalent blockchain called “RARI Chain,” with royalties embedded into its nodes.
In an announcement sent to Cointelegraph, the RARI foundation said the RARI Chain will be a
nonfungible token (NFT) infrastructure solution built on Arbitrum. With royalties embedded on the
node level, the RARI foundation said that creators will have the tools they need to be successful in their endeavors.
The move follows a recent uptick in Rarible’s trading volume after demonstrating its NFT marketplace’s
commitment to royalties. On Aug. 23, the 24-hour trading volume on Rarible jumped nearly 585% after
it removed marketplaces that don’t support royalties and royalty enforcement to its aggregation data.
“To ensure a sustainable economy, it is crucial to provide them with tools and environments
contributing to their success. Our commitment is embedded in
preventing the disintermediation of creators from the Web3 growth.”
Meanwhile, Rarible co-founder Alex Salnikov said they believe Web3 should be a “creator-centric
ecosystem” that allows artists to thrive. Salnikov claims that the RARI Chain is a move to protect
creators’ earnings. “By enforcing royalties at the node level, we are ensuring that creator royalties are more than just a promise, they are a guarantee,” he said.