Rarible bets on token buybacks to outlast NFT farming hype
RARI Foundation’s Anna Riabokon told Cointelegraph that licensing revenue and fee buybacks will sustain the platform’s rewards program.
Non-fungible token (NFT) marketplace Rarible launched a redesigned trading platform on Tuesday and rolled out a new system that directs transaction fees into token buybacks.
Rarible told Cointelegraph that the model, which redistributes tokens to active traders, is intended to create a sustainable alternative to earlier NFT marketplace incentive schemes that relied on fixed token allocations.
“Previous designs in the NFT marketplace ecosystem were not sustainable,” Anna Riabokon, head of operations and governance at the RARI Foundation, told Cointelegraph.
