Are NFTs Back? Espresso Systems' NFT Collection Sparks $10 Million Surge on RARI Chain Within Minutes

RARI Chain sees explosive growth as digital art collectors rush back to market. The NFT market got a jolt of energy this week when a 5,000-piece digital art collection sold out in minutes, bringing $10 million into the RARI Chain blockchain and reigniting debates about whether non-fungible tokens are making a comeback.

"The Composables," a profile picture collection featuring algorithmic artwork, disappeared from the market almost as quickly as it appeared. The whitelist phase reserved for priority buyers sold out in minutes. The public sale lasted for seconds.

The frenzy drove more than $10 million in new activity to RARI Chain, a blockchain platform built specifically for NFT infrastructure, and has already generated over 500 ETH (roughly $1.8 million) in resales as collectors flip their digital assets for profit. For an industry that many declared dead after the 2022 crypto crash, it's a surprising turn of events.

"We see The Composables as the beginning of a new era," said Jana Bertram, who heads strategy at RARI Foundation, the nonprofit behind the blockchain. "It's more than a collection—it's a cultural and technical milestone."

Beyond the Hype: Real things are Brewing 

The collection stems from a partnership between RARI Chain and Espresso Systems, a blockchain infrastructure company. Earlier this year, RARI became the first platform to integrate with Espresso's new rollup technology, essentially a way to make blockchain transactions faster and cheaper.

What started as a technical partnership evolved into something more creative when Espresso decided to launch its first-ever NFT collection on RARI's platform.

"The incredible community response demonstrates that users are ready for truly composable crosschain experiences,"

said Jill Gunter, who co-founded Espresso Systems. The technical jargon translates to a simple idea: making it easier to move digital assets between different blockchain networks.

While the NFT sale made headlines, RARI Foundation quietly rolled out more substantial changes that could reshape how the platform operates.

For the first time, holders of RARI tokens, the platform's native cryptocurrency, can now earn rewards for participating in governance decisions. Previously, token holders could vote on platform changes but received no financial incentive to do so. "RARI token holders no longer need to choose between governance and profit," Bertram explained. They can earn while helping shape the platform.

The team also introduced staking with a $50,000 reward pool split across three seasons, plus another $10,000 for users who complete platform challenges. A portion of the platform's revenue will also fund a creator support program. 

Market Timing and Broader Trends

The developments come as the broader cryptocurrency market shows signs of interest in NFTs after a prolonged downturn. While far from the speculative peaks of 2021-2022, when digital artworks sold for millions, recent months have seen increased activity in certain corners of the market.

RARI Foundation is capitalizing on the momentum with a month-long promotional campaign running through July 2, offering prizes and exclusive access to future collections for active users. Early participants who maintain their token stakes through July will get first access to a limited-edition collection from artist Amber Vittoria, scheduled for release July 10.

Whether this represents a genuine revival of the NFT market or merely another speculative bubble remains to be seen. But for now, at least, collectors seem willing to bet on digital art again.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.