PolkaRARE PRAREPrice $ 0.00106

PolkaRARE is a web3 economy ecosystem that allows anyone with little or no prior experience of NFTs to create, trade, and discover NFTs. By leveraging NFT’s provable scarcity, transferability, and PolkaRARE’s offerings, we aim to unlock the maximum potential of NFTs.

Platform Features

Multichain NFT marketplace

• Interoperable cross chain NFT marketplace with social features, gasless transactions and 3d art gallery

NFT Wallet

• Multichain wallet to store NFTs and digital assets

Collections

• Rare NFT drops which includes licenced art, music and sports cards

NFT COLLATERALIZED LOANS

• Put your NFT assets up as collateral for a loan, or offer loans to other users on their non-fungible tokens.

Royalties

• Creators can configure flexible royalties on creations to receive secondary sale commissions. PRARE token holders will be able to set royalties a bit higher.

Unlockable content:

• Store private files that will not be previewed openly but only unlocked for the current owner.

NFT price discoverability protocol

• Price discovery models that determines the realistic value of your NFT’s

Social features

• Social features like user profiles, ratings, comments, favorite and sharing to increase creator and fan engagement

Multi content support

• Support for 2D and 3D media

Token

PRARE token is the platform’s utility and governance token. The total supply is fixed at 100 million. PRARE will be issued and distributed as an Erc20 token at the IDO and ** will be cross chain later

Token utilities:

Governance

• PRARE token holders will be able to propose and vote on key proposals, a portion of platform transaction fees will be used for the governance rewards.

Medium of exchange

• PRARE is used a primary mode of payment on Polkarare

Staking Rewards

• Stakers will be rewarded with platform fees. Stake PRARE to earn PRARE

NFT Farming

• Stake PRARE to farm rare NFTs

Exclusive NFT drops

• PRARE holders will get exclusive drops from the collectibles product

NFT Specification

PRARE NFTs will be based on ERC1155 specification. PRARE NFTs will work with all external systems that support the ERC1155 standard like OpenSea.

PRARE NFT contains metadata such as the address of the original creator, royalty fee ratio, unlockable content etc.

Revenue & Royalty fees

Polkarare takes a yet to be determined fee per NFT sold in the marketplace. PRARE token holders will have lower transaction fees

The creator of the NFT can specify a royalty fee ratio for their NFT. Whenever the NFT is resold, the marketplace smart contract cuts the corresponding portion from the profit and transfers it to the creator. PRARE token holders can further customize the royalty.