What is PolkaRare (PRARE) | What is PolkaRare token | What is PRARE token
In this article, we’ll discuss information about the PolkaRare project and PRARE token
About Polkarare
PolkaRARE is a web3 economy that allows any user or a brand 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.
PolkaRare is powered by PolkaDot, Polygon, Ethereum, & Binance Smart Chain
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
Comparison Chart
Technical Specification
Most NFT platforms are based on Ethereum. However, current Ethererum network congestion issues have become a bottleneck for NFT creation and trading. Polkarare platform targets to be a multi-chain NFT platform, where creators and users can optimize the blockchains they want to use, and seamlessly transfer them across different networks.
The initial phase of the platform allows NFT creation on Ethereum and Polygon chains. In phase 2, we will add NFT creation on the BSC and gradually extend it to other blockchain networks.
Currently, all of the Polkarare repositories are private, but we will open source as soon as possible.
The following is a list of some of the core technologies that we are using:
The economy includes the following components:
• A NFT marketplace for users to create and trade digital content
• Smart contracts for marketplace functionality on multi chains
• Social & commerce modules
• Account Module to handle email auth and social logins
• A decentralized storage system to securely stores all of the digital content’ files
• Server modules for storage of unessential data
• Price discoverability engine
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.
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
Tokenomics
Total Supply: 100,000,000 PRARE
Initial Market Cap: $450,000
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
Governance:
Anyone can stake PRARE to create and vote for proposals. A portion of platform transaction fees will be used for the governance rewards. By participating in voting, token holders may earn rewards. For proposals to be accepted, it must be endorsed by a sufficient amount of token holders. Each proposal should include an implementation plan and a bounty.
How and Where to Buy PolkaRare (PRARE)?
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step - Transfer your cryptos to an Altcoin Exchange
Once finished you will then need to make a BTC/ETH/USDT/BNB deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase PRARE from the website: POOLZ on May 11
- Fill the whitelisting form -: https://forms.gle/m6tRRnGkv5QEuPmM9
The top exchange for trading in PRARE token is currently …
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once PRARE gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
Find more information PRARE
☞ Website ☞ Social Channel ☞ Social Channel 2 ☞ Message Board ☞ Documentation ☞ Funding Round ☞ Sales Details
🔺DISCLAIMER: The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.
🔥 If you’re a beginner. I believe the article below will be useful to you
⭐ ⭐ ⭐ What You Should Know Before Investing in Cryptocurrency - For Beginner ⭐ ⭐ ⭐
I hope this post will help you. Don’t forget to leave a like, comment and sharing it with others. Thank you!
#blockchain #bitcoin #prare #polkarare
