Season the ribeye steak generously with salt and pepper on both sides.

In a large skillet, heat the olive oil over medium-high heat. Once hot, add the ribeye and sear for about 4-5 minutes on each side until a nice brown crust forms. Remove the steak from the skillet and set aside.

In the same skillet, add the sliced shallots and reduce the heat to medium. Cook for about 8-10 minutes, stirring occasionally, until the shallots are soft and caramelized.

Stir in the chopped figs, balsamic vinegar, beef broth, brown sugar, cinnamon, and smoked paprika. Bring the mixture to a simmer.

Return the seared ribeye to the skillet, ensuring it is submerged in the glaze. Cover the skillet and reduce the heat to low. Braise for 1.5 to 2 hours, or until the meat is tender and easily pulls apart with a fork.

Once the ribeye is cooked, remove it from the skillet and let it rest. Strain the cooking liquid into a saucepan and discard the solids. Add the chopped rosemary and bring the liquid to a simmer. Whisk in the butter until melted and smooth.

Slice the braised ribeye and serve it drizzled with the velvety rosemary jus. Garnish with additional chopped rosemary if desired.