How to use Rarible? Sale and creation of NFT in Rarible

Rarible is a digital marketplace for non-fungible tokens, also known as crypto-collectibles. You can buy, sell, and create your own non-fungible tokens on Rarible.

Rarible allows people to convert their jobs into non-fungible tokens (NFTs) and sell them on the market.

In this guide, I will show you how to use Rarible and buy, sell, and create non-fungible tokens on Rarible.

How to use Rarible? Buy and sell NFT in Rarible

To use Rarible, you need a cryptocurrency wallet and some ETH in it. refore, you can buy non-fungible tokens and pay the transaction fees in Rarible.

But you can’t use all cryptocurrency wallets to access and use Rarible. You need a cryptocurrency wallet that allows users to access dapps.

MetaMask is the most popular wallet for using dapps. If you don’t have a MetaMask wallet yet, you can check out our MetaMask tutorial to learn how to install and configure MetaMask.

If you have a hardware wallet like Ledger Nano X, you can connect it to your MetaMask wallet and use dapps in a more secure way.

Connect your MetaMask wallet to Rarible

First log into your MetaMask wallet in your browser and visit Rare. Click the “connect” button on Rarible to connect your wallet to the platform.

Check the boxes to accept Rarible’s terms of service and click the “continue” button.

Buy non-fungible tokens on Rarible

After connecting your wallet to Rarible, you can start exploring digital collectibles on the platform.

If you are interested in a particular collectible, you can simply use the “buy now” button to purchase the collectible or place an offer on the collectible.

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After clicking the “buy now” button, you must approve the transaction in your MetaMask wallet. A pop-up notification will appear in your MetaMask wallet and you can view and adjust the gas rate.

Bidding for a non-fungible token on Rarible

If you want to buy a non-fungible token at a certain price on Rarible, you can bid on that non-fungible token.

Click the “bid” button and enter your bid and the quantity of the collectible. To proceed to the next step, click on the “make an offer” button.

After clicking the ‘make an offer’ button, you will be prompted to go through three steps through your MetaMask wallet, which will incur Ethereum gas fees.

Your ETH will be converted to WETH (Enveloped Ether) and you are ready to go.

Sale of non-fungible tokens in Rarible

If you already have non-fungible tokens, also known as crypto collectibles, in your wallet, you can view and sell them on Rarible.

After connecting your wallet to Raro, click on “my account” under the gravatar to view your non-fungible tokens.

Choose and click on the collectible you want to sell and click the “put up for sale” button to sell your collectible.

Enter the price in ETH, DAI or other tokens and click the “next step” button. You will be asked to approve the token and then sign the transaction in MetaMask.

How to create a non-fungible token in Rarible?

In addition to selling crypto collectibles that you own in a game or any other dapp, you can also create your own non-fungible token on Rarible.

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To create your own collectible on Rarible, visit the platform and click the “create” button.

Choose ‘single’ or ‘multiple’. If you want to sell your work, such as music, multiple times, you can choose the multiple option.

Upload your file and enter other details. You can enter a price for your item that will sell for immediately, but will remain biddable.

You can also put a key, a code or a link to your original file. In the collection section, you can simply use Rarible or create your own collection by adding an image, a name, and a token symbol.

Enter a name and description for your non-fungible token. And set a royalty percentage. This way you can get paid whenever your NFT is sold on the secondary market.

After uploading your work and entering all the details, click the “create item” button to mint your non-fungible token and put it up for sale.

You will be prompted to follow the steps below, which will incur Ethereum gas fees. Make sure you have enough ETH in your wallet to pay for the transaction fees.

Rare fees

Rarible’s rate is 2.5%. If you want to buy a collectible for 1 ETH, you have to pay 1,025 ETH.

If you list your own non-fungible token for 1 ETH on the platform, you will receive 0.975 ETH when it is sold.

refore, Rarible takes a fee of 5% in total from each sale, as the fee is charged to both sellers and buyers.

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