Proposal: Building the Future of NFTs: The Rarible Protocol - Arbitrum Integration Proposal [REVISED]

Thank you for this feedback. We’ll take out the token swap and are excited to go on Snapshot!

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Following up on the data request:

We looked into pulling stats to assess the activity on the Rarible Protocol across different chains as well as on the marketplaces built with the Protocol. Only recently, we established optional API keys and have been tracking ~0.4bn API monthly calls - we haven’t been tracking these by chain, however. Where we have insights into activity on different chains are the marketplaces. These are not an exhaustive use of the Protocol (which supports other applications such as data analytics, bots, wallets etc.), but to give a sense of scale for the marketplaces (Rarible.com + community marketplaces), there are ~935k MAU and ~90k MAUW, where for example, Polygon tracks ~69k monthly average unique sellers\buyers\minters.

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In case anyone wishes to review the proposal in more detail or discuss their feedback live, please join us in an open review call:

Open call: Rarible Protocol <> Arbitrum proposal review
Friday, August 4 · 12:30 – 1:00pm
Time zone: America/New_York
Google Meet joining info
Video call link: https://meet.google.com/dhq-ftuc-vxx
Or dial: ‪(US) +1 805-946-0563‬ PIN: ‪823 288 839‬#
More phone numbers: https://tel.meet/dhq-ftuc-vxx?pin=5403981090901

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Thank you Rarible for submitting a revised proposal.

  • In order to ensure long term alignment I suggest the ask to be funded (atleast partially if not completely) with vested tokens.
  • The token swap idea should be a separate proposal and not be mixed with this grant request
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Hi Jenga,

Thanks for the feedback! We’ll take the token swap out of the proposal as we’ve heard from a few delegates now that the swap would not be meaningful to the Arbitrum community.

Re ensuring long-term alignment, we have proposed to absorb 50% of the costs and will service and maintain the Protocol upkeep after the integration implementation. The requested funding will be used on salaries, and as such, we’d prefer a liquid form of payment - we can have the amount paid in ETH if that’s preferred.

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I understand the long-term alignment to absorb the cost.
The funding on salaries and a liquid form of payment.

For made a constructive mindset , this interaction may help

imo lot of subscription models can be explore

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Thanks for the update @Janabe

it would be great to have this language in the proposal.

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@menaskop
In the name and the fabric itself of decentralization.
i agree with you.

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great build - thanks @jengajojo

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Thanks, everyone, for your input! The above proposal has been updated with new content to reflect the received feedback. We’ll join the community call to answer any last questions and we’re ready to progress to a Snapshot vote.

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StableLab’s Stance

We at StableLab are in full support of this great proposal. As delegates at both Arbitrum and Rari DAO, we believe this proposed partnership would produce value for both projects.

Attracting NFT Activity

According to the data provided in the proposal, Arbitrum is lagging behind other L2s in terms of NFTs activity. We need to encourage NFT builders to build on Arbitrum as opposed to other chains so we can attract new ideas and more activity to the NFT scene on Arbitrum.


The graphic above shows that NFT volume is currently very low with only a few NFT marketplaces existing on Arbitrum.

Partnering with Rari to make it easier and cheaper for builders to come to Arbitrum will help attract attention and show the crypto community that Arbitrum is serious about NFTs. Especially given the exposure Rarible can provide with their 1 million MAU and large social media following. This could not only bring in new NFT activity but also allow more people to discover Arbitrum as a whole.

Sends a Larger Message

This move also sends a strong signal to the broader crypto community that Arbitrum is willing to experiment and establish partnerships in order to expand the Arbitrum ecosystem, attracting future prospective partners and projects.

Budget

Finally, we believe the $100,000 funding request is a fair ask as this is a tiny amount (0.0028%) of the total DAO treasury for a proposal that aims to bring new activity and revenue to the Arbitrum ecosystem.

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Looking forward to the integration of classic protocol to Arb eco. waw

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I voted YES, but Arbitrum should rather focus on the DeFi space.

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As the ITU Blockchain community, we are always open to innovative projects and partnerships. Therefore, we warmly welcome the proposal submitted by RARI Foundation for a broader integration with Arbitrum. Despite our initial concerns regarding the budget, we’re optimistic about the possibility of achieving significant outcomes with the stated financial framework. We particularly appreciate the in-depth knowledge and elucidative approach of the RARI Foundation in this domain. We view such collaborations as steps that will further advance the crypto and blockchain ecosystem and are committed to continuing on this path. Therefore, we vote in favor of this proposal

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We are supportive of the proposal to integrate the Rarible Protocol with Arbitrum One. This partnership could be a milestone in Arbitrum’s journey for several compelling reasons:

Keeping Up with Competitive Dynamics & Nurturing the Developer Ecosystem

The landscape for layer-2 solutions is increasingly competitive. Arbitrum must not only maintain its lead but also innovate to attract developer talent. This proposal does precisely that by enriching our NFT development infrastructure, thereby enhancing the overall developer experience.

The integration with Rarible offers a suite of tools that could significantly reduce barriers to entry for aspiring NFT developers on Arbitrum. The availability of a robust SDK, indexer, and order book will provide a comprehensive solution for those looking to create and trade NFTs.

Accelerating NFT Growth

Arbitrum currently lags in NFT activity, which is another big segment of the crypto market. The partnership with Rarible will draw more builders to our ecosystem. Rarible’s existing one million monthly active users and large social media following could provide the needed catalyst for this growth, attracting not only new NFT creators but also a larger user base for Arbitrum.

Reasonable Fund Amount Request

The proposal requests $100,000 from the Arbitrum DAO treasury, a small percentage compared to the treasury budget. Importantly, the proposal comes with a clear timeline and well-defined deliverables, adding a layer of accountability. This investment seems minor when weighed against the potential benefits of increased developer activity and user growth that could lead to new revenue streams from on-chain transactions.

In summary, we strongly believe that this proposal aligns well with Arbitrum’s strategic objectives and will deliver both immediate and long-term value to our community.

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The below response reflects the views of L2BEAT’s governance team, composed of @krst and @Sinkas, and it’s based on the combined research, fact-checking and ideation of the two.

We are voting FOR this proposal in the temperature check.

We were happy to see that the Rarible team was open to community feedback and even happier to see their revised proposal which addressed some of the concerns we had with the one they originally submitted.

To us, Rarible integrating with Arbitrum is much more than allowing builders on Arbitrum One to use the Rarible protocol and having one more platform where people can create and collect NFTs. We were initially skeptical of the upside the proposal had to the DAO, but after careful consideration and discussion with the proposers, we concluded that we’d be in favor of the proposal, if it meant more visibility for Arbitrum.

With the addition of of cross-marketing support in their proposal, we believe that the value such integration would bring fairly justifies the $100,000 spend. As such, we’re voting in favor of the proposal in the temperature check.

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Very excited that our proposal passed the snapshot vote with 89% in in favor:
https://snapshot.org/#/arbitrumfoundation.eth/proposal/0x66b953a7cf4de9f6de54e6eb87ae291b5cc62f12c7fed68eba91043607883221

Vote on Tally opening soon!

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We at Michigan Blockchain have voted FOR this proposal on Snapshot.

The cooperation of the Rarible team with the Arbitrum community and their revised proposal shows promise for a successful partnership. Rarible’s integration with Arbitrum One will enable for further growth of the digital collectible space on Arbitrum, which currently lags among L2s in NFT activity. This integration and the potential growth from the builders Rarible can bring to the ecosystem justifies the expenditures and we look forward to continuing to work with Rarible and the Rari DAO.

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The below response reflects the views of L2BEAT’s governance team, composed of @krst and @Sinkas, and it’s based on the combined research, fact-checking and ideation of the two.

We voted in favor of the proposal during the temp check for reasons already outlined in a comment above and as such, and given that nothing has been altered in the proposal between the temp check and the on-chain vote, we’ll be voting for the proposal at the on-chain vote.

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I’m looking forward to the Arbitrum integration

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