Oct 27, 2023
Rarible Chooses Metal Blockchain for Advancing Compliant Digital Asset Marketplaces
Rarible, a leading cross-chain NFT marketplace, has partnered with Metal Blockchain, guided by Metallicus, to explore the development of compliant digital ownership solutions for the banking and fintech sectors.
Metal Blockchain has recently solidified strategic integrations with leading financial service entities, with core development guided by Metallicus. This blockchain is meticulously designed to bridge the realms of traditional finance and web3, adhering to the compliance standards set by the Bank Secrecy Act (BSA).
The collaboration with Rarible is set to harness the technical expertise of both projects to explore compliant marketplaces for digital assets, and new applications of Non-Fungible Token (NFT) technology in mainstream financial products and consumer banking experiences.
The journey of integrating blockchain technology within the traditional finance sector is in its nascent stages. By pooling resources with Rarible, the aim is to conduct thorough R&D on financial products such as tokenized rewards, globally compliant digital asset transfers, immutable on-chain documentation of financial records, and other bespoke alerts.
Marshall Hayner, CEO of Metallicus, acknowledges the expertise Rarible brings to the table in the NFT domain. He comments, "In working with Rarible, we recognize their deep expertise in the NFT arena. This collaboration represents a meaningful partnership that aims to enhance the way that web3 concepts of digital ownership can be applied in real world financial settings. Together, we will focus on exploring new possibilities, always prioritizing compliance and utility."
Rarible, an early bird in the NFT space, has developed a sophisticated, scalable NFT tech stack that is ripe for financial applications. The Rarible Protocol, governed by its community, stands as a decentralized, open-source standard for NFTs, known for its user-centric design, seamless trading experiences, and high performance.
Expressing his enthusiasm, Alexei Falin, Co-Founder & CEO of Rarible, said, "We're thrilled to work with Metal Blockchain to explore the transformative potential of NFT technology in finance. Picture Chase credit card points evolving into NFTs, traded and owned by the holders, not just existing as entries on a bank's ledger. We're talking genuine ownership, clarity, and movement in rewards — this is the future Rarible is striving for."
This collaborative endeavor between Rarible and Metallicus, through Metal Blockchain, seeks to explore new solutions to tackle financial inefficiencies by leveraging the potential of NFTs and blockchain technology, with a keen focus on regulatory compliance. The objective is to address issues surrounding transparency, speed, and cost, employing NFTs for clear ownership representation and blockchain for secure, swift transactions. The partnership aims to simplify asset management and financing, intertwining technology and finance for a future that's more efficient and compliant.