You might have come across a lot of e-commerce platforms buying and selling goods like Amazon and ebay, but we will introduce to a new type of e-commerce platform, Rarebit, specifically for crypto assets trading.
Rarebits is the first of its kind that provides a peer-to-peer marketplace for crypto assets and other non fungible assets like the CryptoKitties and CryptoCelebrities. The platform also offers its own digital wallet where customers can store their crypto assets and buy and sell crypto products via auctions.
Rarebits, which is in beta testing currently, offers charge free trading on its platform but does notes that customers are responsible for transaction fees involved in case of a clogged network.
The platform provides a vast range of crypto-assets including some trending options like CryptoKitties, ChainMonsters and CryptoBots.
Such assets are surrounded by a lot of hype lately. Like CryptoKitties, which is the first ever mobile game built on blockchain technology has about 250, 000 users. The game revolves around buying and selling of digital kitties and to date, CryptoKitties have sold more than $23 million worth of digital kitties. Other crypto apps and games are also gaining much popularity.
Till now, the non-fungible tokens (NFT) are used only in the gaming space only despite of having a wide range of applications for other sectors too. This means that Rarebits has much to offer in the future.
The team behind the startup comprises of four co-founders David Pekar, Amitt Mahajan, Daniel Lee, and Payom Dousti. The team says they are currently focusing on games only and has future plans to create developing tools and services that will help tokenize crypto assets.
The platform went live last month and since then the team behind it has managed to sell 100 ETC worth of assets.
Rarebits is having the best opportunity to flourish as there is no rival to compete when a crypto-asset frenzy is going on. The platform can go a long way and looks like it might get hold of the market in its early stage.