NFT Market’s RARI Roken Sees 100% Gain After CoinFund Investment

NFT marketplace Rarible received CoinFund’s undisclosed investment in the transition to community governance.

New York-based crypto investment firm CoinFund has made an undisclosed investment into the digital art-focused non-fungible token (NFT) marketplace, Rarible.

The funds from the pre-seed round will be used to develop a “community-governed” NFT marketplace, according to a Rarible announcement from September 8. The Rarible platform launched earlier this year and this week started issuing its RARI governance token — with RARI doubling in price since trading began on Uniswap 24 hours ago.

Rarible predicts that the NFT sector will see a 50% growth in capitalization to tag a $315 million market in 2020.

In a blog post from CoinFund announcing the investment, the firm predicts that “all digital content is going on-chain” — emphasizing the “staggering diversity of online digital content that can be placed on a blockchain in the form of NFTs.”

CoinFund argues that it is reductionist to understand NFTs “as a tokenized digital content itself,” describing non-fungible tokens as liquid expressions of intellectual property rights for all forms of digital content.

The firm, for instance, points out that the difference between “taking a photograph of the Mona Lisa” and “actually owning the masterpiece of Leonardo da Vinci” is that someone with a photo can not charge $10.2 million in annual admission fees to view it.

[image:Deposit Photos]

bitcoin
Bitcoin (BTC) $ 19,101.97 0.49%
ethereum
Ethereum (ETH) $ 1,059.55 1.54%
tether
Tether (USDT) $ 0.999822 0.03%
usd-coin
USD Coin (USDC) $ 1.00 0.11%
bnb
BNB (BNB) $ 217.91 0.91%
binance-usd
Binance USD (BUSD) $ 1.00 0.29%
cardano
Cardano (ADA) $ 0.449363 0.53%
xrp
XRP (XRP) $ 0.312982 0.07%
solana
Solana (SOL) $ 32.78 0.73%
dogecoin
Dogecoin (DOGE) $ 0.065860 1.49%
S&P 500  ^GSPC 
$3,825.33  $39.95  (1.06%)
Dow Jones Industrial Average  ^DJI 
$31,097.26  $321.83  (1.05%)
NASDAQ Composite  ^IXIC 
$11,127.85  $99.11  (0.90%)
Russell 2000  ^RUT 
$1,727.76  $19.77  (1.16%)
Crude Oil Aug 22  F*CL.NYM 
$108.46  $2.70  (2.55%)
   
$0.0000  $0.0000  (0.00%)