RARA.social, a ‘like-to-earn’ social crypto experience platform for NFTs released a new app for communities to hold Social NFT Auctions. With 40+ communities using RARA to host auctions in Telegram and Discord, artists and fans are finding new ways to engage around NFTs beyond bidding.
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Lawson Baker founded RARA (pronounced “rah rah!”) in March 2020 after realizing that crypto and Web 2.0 social platforms were changing our relationships with money and how we communicate on the Internet.
“Today social media is a closed sport where everyone is competing over more connections and more engagement. Social crypto will turn the sport of social into a cross-platform, open economy where both the connection and engagement can be more money-like. NFTs are the first step in the process where “minting” is the new “posting” and the NFT buyer is a superfan who can share in a creation’s upside,” said Baker.
With the rise of NFTs over 2021, NFT sales are set to exceed $5 billion while estimates range between 100,000-150,000 of NFT users.
“While we are still in the early days of the social crypto economy, RARA hopes to expand the NFT use beyond superfans to casual fans, as well. RARA’s `’like-to-earn` app is an early prototype where casual fans can earn RA!s and react to NFTs to influence the curation of NFTs. RARA plans to release a protocol later this year to introduce NFT-backed reactions for casual fans to curate and invest in the virality of an NFT.”
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Today, 41 communities host Social NFT Auctions with RARA where superfans can bid and casual fans can participate in the action with RA!’s. The app amplifies the social activity around the auction by integrating each communities’ chat with over 40,000+ members next to the NFT so the creator, fans, and artists can rub shoulders similar to an in-person auction.
“The best thing about RARA is the way it lets both collectors and artists hang out together and have a little party while the auction is going on. It feels way more alive and you can feel the human connection way more than seeing an anonymous wallet place a bi,” said cryptoPOM1, an NFT creator and co-creator of #NFThypesquad discord community using RARA during a LIVE auction using RARA.
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