Rarible RARI/USD is a software that allows digital artists as well as creators to issue and sell custom cryptocurrency assets that represent ownership of their digital work.
The RARI token is what powers the platform, which is the native cryptocurrency token of Rarible.
The Adobe partnership as a catalyst for growth
In an announcement on October 26, Rarible announced that they have partnered up with Adobe to support content attribution for NFTs.
Adobe is trying to make it a lot easier for non-fungible token (NFT) creators to prove that they are the artists behind their work by linking their social media profiles and cryptocurrency wallet addresses.
According to Adobe, this partnership will introduce a feature that can add an NFT creators’ wallet address and social media information to the Content Credentials metadata of the tokens that are listed on Rarible.
Additionally, Adobe’s historical efforts were put into perspective, where two years ago, they co-founded the Content Authenticity Initiative (CAI) to combat visual misinformation and protect creators through digital provenance.
Furthermore, users of the Photoshop desktop app can now link their social media profiles and crypto wallet addresses to their work.
This way, they can assure customers that they are the creator of the content that they are presenting at any point in time.
Should you buy Rarible (RARI)?
On October 27, Rarible (RARI) had a value of $18.69.
To get a better perspective of what kind of value point this is for the token, we will be comparing it to it’s all-time high value as well as its performance in September.
The all-time high value the token reached was on March 29, when it had a value of $46.70. At its all-time high, the token was $28.01 higher or 149% higher in value.
In terms of the performance in September, on September 4, the token had a value of $34.23, which was its highest point.
Its lowest point of the month was on September 26, when the token fell to a value of $12.08. Here, we can see that the token fell in value by $22.15 or by 64%.
However, from September 26 to October 27, the token increased in value by $6.61 or by 54%.
According to data from IntoTheBlock, Rarible saw $4.67 million in transactions greater than $100,000 in the last seven days.
Additionally, within the last 30-days, the network had an average of 21.97k addresses.
At this rate, we can expect the token to reach $25 by the end of November, making it a solid purchase.
The post I’m buying Rarible (RARI) after the Adobe partnership and this is why! appeared first on Invezz.
from Market Analysis – Invezz
