Rarible recently launched the Rarible Protocol, which includes a decentralized and open source NFT exchange as well as minting contracts, an indexer, and various other bells and whistles for those building in the NFT space.
A great use case for the protocol is to integrate with marketplaces and metaverses like Decentraland. Below outlines how this could work.
This scope includes:
- Integrate Decentraland with the Rarible Protocol such that it is possible to buy NFTs directly within the Decentraland interface
- Create a fee on the Decentraland front-end such that fees are directed to Decentraland DAO (optional)
- Allow parcel owners to display NFTs and to receive a certain % of fees from the sale via fee splits (which can be set)
The benefit to Decentraland is that you would be able to sell items directly from Decentraland, without directing users to other external applications. Right now, when you click on an NFT, you get something like this:
These NFTs can be purchased on Opensea currently, and it is even possible for parcel owners to monetize on OpenSea referral fees (1%).
Using the Rarible Protocol, we can do much better. Rarible Protocol is the only open source and community owned NFT exchange protocol.
What would this look like after integration with the Rarible Protocol?
- Items could be purchased directly from within the interface
- A fee could be set within the interface (2.5% for example, which is what Rarible.com has)
- That fee could be directed to Decentraland DAO (it is possible to set this fee upon creation of this integration, OR, we could just set it to zero. Maybe we could have a separate vote to determine what fee to include for Decentraland DAO)
- Fees and Royalties from external platforms (like SuperRare) could be carried over using the protocol
- NFTs from different blockchains could also be displayed (for example, we are integrating with Flow, Polygon, Moonbeam)
- What is even more cool is that the Rarible Protocol has fee splitting. So for example, a parcel owner could display NFTs that he does not even own, and receive a % of fees from that process!
The “Ask” :
This is a co-funded grant application between Rarible DAO and Decentraland DAO. This proposal is asking for:
- A grant to develop this functionality. Rarible DAO and Decentraland DAO can fund this together, with a 5K contribution from Decentraland DAO (vested over 3 months with a 1 month cliff as per link). Rarible DAO is asked to contribute 7K, with 1/2 paid upfront and 1/2 upon completion.
- In terms of implementation, HPrivakos has expressed interest in helping with this (yay!). Funds will be vested and distributed to the following address: 0x2fa66abee1b3b6afe5c14566ed4fdbadaf982b56
- A portion of the fund will be used for design work or possible support from other devs, which will be handled by HPrivakos.
For : You are voting FOR the proposal above and a payment of 5K from the Decentraland DAO side for this integration.
Against : You are voting AGAINST the proposal above.
NOTE! here is the link to the forum post for decentraland: https://forum.decentraland.org/t/decentraland-rarible-protocol-integration/1653