SuperRare is a marketplace based on the Ethereum blockchain that specializes in acquiring and trading Non-Fungible Token(NFTs). Authors, inventors, and owners can exhibit their NFT Art there and confirm their provenance, history, and other details.
NFTs are shown, exchanged, moved, etc. straight on SuperRare Spaces when they are created. Additionally, creative concepts (such as images, gifs, etc.) can be tokenized and directly transferred on SuperRare; to date, more than 1,400 Digital artists have sold more than 90 million NFTs. within SuperRare.
With recent backing from Samsung Next, Mark Cuban, and Ashton Kutcher, SuperRare has grown dramatically since its founding in 2018 as an even more elite platform than it is now.
SuperRare is a renowned NFT marketplace,with an estimated 1.2 million site visitors in January 2022. 3.7K people follow r/SuperRare on Reddit, and its Discord channel has over 38K users. SuperRare is mainly geared toward expert collectors, so you might need a huge budget.
Who is the creator of SuperRare?
Jonathan Perkins, Charles Crain, and John Crain established SuperRare in 2018. The group founded Pixura, the platform’s underlying technology, as well.
Similar to other well-known NFT art marketplaces like OpenSea, Foundation, and Rarible, SuperRare is based on Ethereum. RARE, the company’s own token, serves as the DAO’s governance token and is owned by SuperRare.
You need an ETH-compatible crypto wallet and ether (ETH), Etheruem’s native asset, in order to make purchases on SuperRare. Almost all of the major cryptocurrency exchanges allow you to purchase ETH.
All purchases made on the site are subject to a 3% transaction fee, which is covered by the buyer. Artists receive a 10% royalty on secondary sales in addition to a 15% artist gallery fee on primary sales, which is significant for NFT marketplaces but low compared to actual art galleries.
How to acquire NFTs with SuperRare?
Customers on SuperRare are referred to as “collectors,” and any cryptographic works they acquire there are immediately added to their collection.
To sign up for SuperRare and start collecting, follow these steps:
- The three digital wallets that SuperRare allows are Wallet Connect, Fortmatic, and MetaMask. On the main website, click Sign in before selecting your preferred wallet. For purchases and gas costs, you’ll also need ETH in your wallet.
- Create a username and password, then proceed with the straightforward verification process. To complete your account, you must approve : also known as sign & the instructions that appear on your wallet.
- To view the activity stream, which showcases artwork for sale and upcoming auctions, scroll down from the landing page. On the homepage, you can also choose Art to display a dropdown menu with Art, Series, and Features.
- Once you’ve located the NFT you want to purchase, you can do so through an auction, a fixed-price sale, or a proposal you’re presenting to a collector. The NFT is shown in your profile’s Collections tab when you’ve completed the instructions and confirmed the purchase.
Exactly how are SuperRare tokens created?
On SuperRare, only invited artists are permitted to produce art. You must first fill out a form with all the required information in order to join the business. These comprise both the digital and original versions of the photos you are permitted to use in your works of art.
Notable SuperRare designers
The top artists are highlighted by SuperRare, and you may sort the artists by total sales, number of pieces produced, highest sale, and more. Additionally, keep in mind that creators on SuperRare are often well-known because artists must be invited or submit an application in order to create work for the platform.
The top artists on SuperRare throughout history
- Ross Free from Hackatao
- Robbie Barrat Matt Kane (@videodrome)
- Time \sXCOPY
SuperRare NFT drops
Unlike many other marketplaces, SuperRare does not refer to its NFT drop page as a “drop” page; rather, you may find the most recent releases and projects on its Features page. There are numerous projects and artists to look at because the page (appears to) go on forever.
On all initial sales, SuperRare charges sellers a 15% commission. Although that is high compared to the majority of NFT marketplaces, it is modest when compared to actual art galleries, which is the model that SuperRare is attempting to imitate.
- Royalties :Every secondary sale represents 10% of the artist’s total.main sales commission.
- 85% of the selling price goes to the artist, and 15% goes to SuperRare for its DAO. On top of the sale price, the buyer must pay a 3% marketplace charge.
- On top of the sale price, the buyer must pay a 3% marketplace charge. Sellers get 90% of the sale price, while artists get 10%.
SuperRare: Is it secure?
SuperRare is secure thanks to blockchain technology’s ability to safeguard it. It is also non-custodial, like the majority of NFT marketplaces, so your NFTs never leave your wallet until they are sold; instead, they are simply locked within a smart contract, just like the money used to bid on an auction.
When you list or bid on an NFT, you agree to a smart contract that when a sale occurs, activates and takes the money out of your wallet in exchange for depositing the money you are owed, or vice versa. The blockchain provides security and makes everything verifiable.
What makes SuperRare remarkable?
- A platform called SuperRare enables users to connect and amass digital art. It’s intended to foster interpersonal relationships and encourage the sharing of interests.
- The platform’s objective is to make it simple for collectors and artists to communicate with one another. Users can view the number of pieces they have purchased, manufactured, and spent, as well as their ETH balance.
- SuperRare provides authentication and monitoring capabilities.
- SuperRare also enables users to profit from the sale of their NFTs by paying royalties. This is due to the company’s smart contract technology, which makes sure that original Creators continue to get royalties even after they vacate their property. This guarantees that even after they have sold their assets, they will receive their full reward.
- Created for durability: Because all transactions can now be made on a chain owing to digital and blockchain technology, each piece of artwork has a tamper-proof record that has an incredibly robust history.
SuperRare pros & cons
- High artist royalties
- Exclusive website
- Simple to use user interface
- Offer a system purchase choice
- Compared to other NFT marketplaces, high commission
- Only ETH is accepted as payment.
- On the Ethereum network, fees can be very high.
SuperRare gave a performance at a Christie’s Art + Technology event in 2018. The company hosted an event with DADA.art at London’s Tate Modern to expose blockchain technology to the traditional art sector. This was the first instance of publicly accessible art being produced in a museum. The collecting community on SuperRare will expand if the company keeps working with well-known art organizations.
Within the NFT industry, SuperRare was able to fill a void. The platform has evolved into the premier gallery of the NFT industry by concentrating on coveted, high-caliber works of digital art.
Due to its outstanding performance, SuperRare has emerged as one of the most well-known platforms in the cryptocurrency sector. Right now, it holds a spot among the top 10 NFT-traded weekly values.
The artist receives 85% of the sale price on any primary sale of any artwork, commonly known as a “mint sale” (the sale straight from the artist after minting the artwork), and SuperRare retains the rest 15% as a commission charge. Additionally, SuperRare levies a flat processing fee of 3% for each purchase that is covered by the customer.
The first thing you may do is use your credit card to purchase Bitcoins or Ethereum from a SuperRare (RARE) exchange. Later, these can be upgraded to SuperRare.
Take these actions:
1. Buy Ethereum or Bitcoin from the cryptocurrency exchange of your choice.
2. Send the Bitcoin or Ethereum you just bought to an exchange that accepts SuperRare.
3. Finally, convert the coin you just bought into SuperRare.
Each time you mint an artwork on SuperRare, you will be charged a gas cost if you are a whitelisted artist. The gas fee is a fee paid to Ethereum miners to validate a transaction; in this context, it is essentially a toll price for committing your artwork to the Ethereum blockchain. Gas fees are completely unrelated to SuperRare.
Gas prices are set by the market and are subject to change when there is a lot of activity on the Ethereum blockchain.
The NFT can be purchased, sold, or even held onto as a long-term investment once it is on SuperRare. Artists can either sell their work for a predetermined fee or offer it up for an auction-style bidding procedure. The NFT can then be resold at any price on a variety of NFT trading platforms after being sold to a buyer.
All transactions on SuperRare are on-chain (meaning provenance is visible) and non-custodial (meaning SuperRare never takes custody of customers’ money or art), as the platform is built on open-source ERC-721 Ethereum smart contracts.Ticker: RARE
Token type: ERC721
Fundraising Goal: ETHTotal
The Value of Rare Coins Is Increasing Consistently One of the most important benefits of buying rare coins is appreciation. Investors aim to keep as much of their investment capital intact as they can. The only way to do that ,then is to raise the funds itself.
Purchase SuperRare on the trade tab with your ETH. Then select the “Trade” option to exchange ETH for any token that adheres to the Ethereum protocol (also known as “ERC-20 tokens”). Select SuperRare by tapping “choose coin.” Enter how much ETH you want to trade for SuperRare.
The current SuperRare price is $0.1111 at press time.