Rarible price prediction: What’s next for NFT marketplace?
Rarible, launched in 2020, has lost 78% of its value over the past year.
With the non-fungible token (NFT) market estimated to have grown to more than $40bn in 2021, many NFT marketplaces have emerged seeking to cater for this ever-expanding industry.
From creators, looking for an ecosystem on which they can mint NFTs, to investors looking to scoop up the most potentially lucrative NFT collections, demand for marketplaces has soared. While OpenSea and Axie Marketplace are often considered the frontrunners in terms of top NFT marketplaces, there are plenty of others that have gained traction.
Rarible is one such crypto platform. The ecosystem, launched in 2020, attempts to distinguish itself from its competitors by branding itself as creator centred.
Listed among the top five most popular marketplaces with the highest rankings, Rarible has managed to collaborate with some major brands, like Taco Bell and Adobe, which has helped lift its exposure levels and gain traction in the market.
Despite this impressive surge in popularity, the coin has experienced significant volatility since its launch, but what is the Rarible price prediction?
Before exploring the forecasts, let’s have a quick overview of RARI, Rarible’s native governance token.
What is Rarible (RARI)?
Rarible is a marketplace where creatives can produce, mint and sell a range of digital items including art works and game items.
Purpoting to be a marketplace “where anything is possible, and all are welcome”, the platform boasts a number of highly sought after NFT collections, including Bored Ape Yacht Club, Invisible Friends and Audioglyphs. With a $274m trading volume, according to Rarible, and 405,000 NFTs created so far, the platform has managed to amass 1.6 million users.
Top features that users can access include multiple edition NFTs, timed auctions, royalties and a personalised activity feed.
In addition, Rarible is a multi-chain marketpace that supports Tezos, Flow and Ethereum blockchains.
The Rarible Protocol, which calls itself “an NFT canvas for creativity and interoperability”, claims to offer creators a host of features including customisable NFT storefronts as well as making it easier to mint NFTs.
“The Rarible Protocol is designed as a set of building blocks, which enables the creation of fully customised NFT experiences of any level and complexity,” says Rarible.
Falin received his degree from the Higher School of Economics in Moscow, Russia. In 2016, he co-founded Sticker.Place, a computer software company.
Salnikov completed a bachelor’s degree in computer science from Moscow’s Higher School of Economics and a data science masters degree.
After graduating, Salnikov co-founded a variety of companies including blockchain company CoinOffering in 2016, and Zenome in 2017, a non-profit organisation on a mission to raise awareness around genomic therapies. He subsequently became a department manager at Zipal.ru in 2016 for three years.
So, how might this information affect a rarible price prediction for 2022? Or even a rarible price prediction for 2030?
Let's first examine the recent performance of the protocol’s governance token, RARI, before looking at any forecasts.
Rarible price prediction
From its all-time low of $0.2648 on 22 July 2020, according to CoinGecko the RARI token soon rose, increasing first to $0.5495 on 4 August 2020 and then to $1.53 on 5 September 2020 before rocketing to $9.75 on 11 September 2020.
The token dropped soon after until it hit $1.88 on 5 January 2021 from where it surged to its all-time high of $46.70 on 29 March 2021. From this peak, the token dropped to $5.34 on 23 June 2021 before soaring back up once more to reach $35.36 on 26 August 2021.
Significant volatility set in from here with the RARI token price dropping to $12.46 on 29 September 2021 before recovering slightly to $23.25 on 30 November 2021. Since November 2021, the coin has been on a downward trend.
The current price of RARI, according to CoinGecko, stands at $7.16 as of 10 March 2022.
The RARI coin has lost 78.7% of its value in the last year and declined by over 31.8% in the last 30 days. The coin has, however, gained 7% in the last 14 days.
There is a maximum supply of 25 million RARI coins and a circulating supply of 6.638 million coins. Ranked number 578 by CoinGecko, the platform has a market cap of $47.38m.
How does this data impact a RARI price prediction?
Rarible price prediction – expert opinion
It’s important when looking at predictions to remember that while they may be a useful indicator of which direction a price may move, they should be viewed as possibilities rather than absolutes. This is especially the case when looking at long-term forecasts, as on occasions these can be completely off the mark. While this is mainly due to the inherent volatility of the crypto market, there are also many other unknown factors that could impact future prices.
With this in mind, let’s look at some rarible price predictions.
Wallet Investor, in a bullish forecast, suggests rarible could go up to $15.402 in a year’s time and $47.563 in five years’ time.
Gov.capital, in an almost outlandish outlook, predicts rarible could go up to $55.11 in a year’s time and $419.59 in five years’ time.
DigitalCoinPrice is more modest and estimates that the Rarible coin price prediction for 2023 could be $10.45, before decreasing to $10.34 in 2024. The website’s rarible price prediction for 2025 stands at $14.06.
How many rarible are there?
There is a maximum supply of 25 million RARI coins and a circulating supply of 6.638 million coins.
Is rarible a good investment?
Experts seem to think the coin is a good investment. However, it is important to note that cryptocurrencies are highly volatile assets and it should be remembered that analysts’ forecasts can be wrong.
Will rarible go up?
Experts seem to think the coin will go up, with some suggesting it could go up significantly. Always remember that forecasts, especially longer-term ones, should be viewed as indicators rather than absolutes. Cryptocurrencies are highly voilatile assets. It’s important to bear in mind that analysts’ forecasts can be wrong.
Should I invest in rarible?
Investing is a highly personal endeavour. Do your own research and keep up-to-date on any developments in the Rarible ecoystem that could boost or dampen its prospects.
Remember, investing can be risky. Conduct your own research. And never invest money that you cannot afford to lose.