PolkaRARE is a web3 economy ecosystem designed to let almost anyone-whether new to NFTs or not-create, trade, and explore NFTs. Using NFT’s inherent provable scarcity and transferability, along with PolkaRARE’s tools, the project seeks to help NFTs reach their full potential.

Platform Features

Multichain NFT marketplace

A cross-chain NFT marketplace with social features, gasless transactions, and a 3d art gallery

NFT Wallet

A multichain wallet for storing NFTs and other digital assets

Collections

Rare NFT drops featuring licensed art, music, and sports cards

NFT COLLATERALIZED LOANS

Use your NFT holdings as collateral to obtain a loan, or supply loans to other users using their non-fungible tokens.

Royalties

Creators can set flexible royalty levels on their creations to receive a share of secondary sale earnings. PRARE token holders will be able to choose royalties that are slightly higher.

Unlockable content:

Store private files that won’t be shown publicly; they can be unlocked only by the current owner.

NFT price discoverability protocol

Price discovery methods that aim to reflect the realistic value of your NFT

Social features

Social tools such as user profiles, ratings, comments, favorites, and sharing to boost engagement between creators and fans

Multi content support

Support for both 2D and 3D media

Token

PRARE serves as the platform’s utility and governance token. The total supply is capped at 100 million. PRARE will be released and distributed as an Erc20 token during the IDO and ** will move to cross chain later

Token utilities:

Governance

PRARE holders can submit and vote on key proposals, and a share of platform transaction fees will be directed toward governance rewards.

Medium of exchange

PRARE is the main payment option on Polkarare

Staking Rewards

Stakers receive rewards from platform fees. Stake PRARE to earn PRARE

NFT Farming

Stake PRARE to farm rare NFTs

Exclusive NFT drops

PRARE holders receive exclusive drops from the collectibles product

NFT Specification

PRARE NFTs are built on the ERC1155 specification. They are designed to function with external platforms that support ERC1155, such as OpenSea.

PRARE NFTs include metadata like the original creator’s address, royalty fee ratio, unlockable content, and more.

Revenue & Royalty fees

Polkarare will take a fee per NFT sold in the marketplace, though the exact amount is not yet determined. PRARE token holders will benefit from lower transaction fees

The creator of an NFT can choose a royalty fee ratio. When the NFT is resold, the marketplace smart contract deducts the appropriate portion from the resale proceeds and sends it to the creator. PRARE token holders can further adjust the royalty.