The Non-Fungible Token (NFT) Rarible market launched a redesigned trading platform on Tuesday and rolled a new system that directs transaction fees to tokens buyback.
Rarible told Cointelegraph that the model, which redistributed tokens to active traders, was intended to create a sustainable alternative to previous incentive schemes in the NFT market relying on fixed token allocations.
“The previous designs in the NFT Marketplace ecosystem have not been maintained,” said Anna Riabokon, head of operation and management of the Rari Foundation, Cointelegraph said.
“They strongly insist on entrepreneurs with unstable levels of redistribution, only to dry when their allocation from token distribution is exhausted.”
Riabokon told Cointelegraph that in the new model, the Rari Foundation will direct all the income generated from transaction fees to the platform “back to the hands of entrepreneurs.” He admitted that this is essentially creating a “fee-free” marketplace.
Previous NFT Market At Token Rewards
Other NFT markets experiment with reward programs, which often rely on token incentives to boost trading activity.
In 2023, Blur led NFT volumes using a system -based system rewarded entrepreneurs with future airdrops in the future token.
However, while the approach is rapidly attracting liquidity, it too Fueled Wash Trading MethodsWhere users buy and sell NFT back -back to maximizing AirDrop rewards without real demand in the market.
The NFT platform also launched a similar approach, which distributed its token to merchants as part of the emission schedule. While the model briefly strengthened the volumes, most of the activity fell dramatically once the rewards were lost.
Related: Pengu to token lost 20% in August in the middle of launching the Pudgy Party game
Rarible Exec said the generation of generation sets the platform
While previous reward programs from competitors have shown unstable results, the rarible remains optimistic about the token reward system. Riabokon said to cointelegraph:
“Unlike other markets, Rarible generates revenue from licensing its software to brands such as Mattel and McFarlane toys and more than 40 other partners, and may therefore support the broader community with this system in a sustainable and long -term way.”
“By reclaiming all the income generated from trading in this incentive program, the system is naturally sustainable,” Riabokon added.
He also said the platform will ensure transparency. Riabokon told Cointelegraph that all payments of transaction fees are onchain and can be monitored in the Treasury of the Rari Foundation.
He said the leadboards would be provided as part of the incentive program, and the foundation would release regular transparency reports.
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