Digital art has become an important part of the evolution of contemporary culture. With technological advances, modern artists have begun to explore digital media to convey their ideas and visions. One of the latest trends changing the digital art landscape is Non-Fungible Tokens (NFT).

 

It is important to remember that NFTs are digital assets that use blockchain technology to provide uniqueness and irreplaceable ownership. It allows artists to sell and monetize their digital artwork unprecedentedly.

 

With the growing popularity of NFT art, this phenomenon has triggered the emergence of many digital centers or marketplaces where individuals can buy and sell works of art in NFT format. One example of a well-known NFT marketplace is SuperRare. This platform runs on the Ethereum blockchain.

 

So, in this review, we will explore the SuperRare platform. Starting from the definition, inventor, how it works, uniqueness and differences from similar platforms, to how to buy and sell NFTs on this platform.

 

What is SuperRare?

SuperRare is a platform that brings together artists, art fans, and NFT collectors who create an interactive space where they can buy and sell works of art in NFT format.

 

With the existence of the NFT market, every individual connected to the internet can become an art collector. It is similar to the general NFT market, where artists from various parts of the world come together to exchange their digital artwork and receive payment in the form of crypto assets. However, SuperRare differentiates itself by highlighting the quality and variety of art styles.

 

This uniqueness makes SuperRare recognized as a high-end market, emphasizing its focus on the excellence of each available work of art. SuperRare is a platform developed on top of Ethereum, a blockchain computing platform that enables secure art creation and ownership verification. Every work on SuperRare is sold as a single edition, printed directly by the original artist from his unique wallet address.

 

Who is the Inventor of SuperRare?

Quoting decrypt.co, SuperRare was founded in 2017 by John Crain, Charles Crain, and Johnathan Perkins, who served as Chief Executive Officer (CEO), Chief Technology Officer (CTO), and Chief Product Officer (CPO). They are also the founders of Pixura, a company that builds the cryptocurrency collectible technology running SuperRare. In addition to executive leadership, SuperRare has established a community of collectors and creatives who play a role in governance.

 

In 2021, the SuperRare platform transitioned into a Decentralized Autonomous Organization (DAO) when they launched their internal token, RARE. This DAO is managed by a community of collectors and creatives formed by SuperRare, thus providing tighter decision-making and fund management control.

 

How Does SuperRare Work?

 

 

SuperRare allows artists to create NFTs from their artwork. Once such NFTs are available in the market, artists or creators can sell their work through auctions or by setting a fixed price.

 

When artists decide to auction the art they produce on SuperRare, they can set a reserve price or a certain period to accept bids according to their wishes. Furthermore, other users can purchase NFTs according to the rules that have been established for purchasing the artwork. NFTs that have been purchased automatically become part of the buyer’s collection, which can be arranged according to their preferences.

 

Buyers of SuperRare art NFTs can also resell those NFTs on other NFT marketplaces by setting their prices. Additionally, artists or creators on SuperRare can explore the platform to earn NFTs in addition to the ones they produce for auction or sale. They can offer to buy NFTs that interest them.

 

Why is SuperRare Unique, and What Sets It Apart from Other Marketplaces?

Quoting coindesk.com as different from other NFT markets, SuperRare emphasizes the level of exclusivity of its digital artwork. Any artist wishing to create an NFT on SuperRare must apply and receive approval from SuperRare Labs. Not only that, but SuperRare also requires that artists only submit one truly unique art NFT, guaranteeing that their work is truly “super rare.”

 

With SuperRare’s focus on fine art NFTs, the platform tends to generate higher sales per token. For example, artists like Kevin McCoy, Don Diablo, and XCOPY have successfully sold NFTs on SuperRare for over $1,000,000 each. Then, TIME magazine is also selling the NFT magazine cover “Is Fiat Dead?” in 2021. Meanwhile, fashion brand Gucci introduced its exclusive NFTs on the SuperRare platform.

 

Furthermore, as quoted from decrypt.co, in addition to tracking and authentication features, SuperRare’s smart contract system allows original artwork creators to earn royalties from resales, similar to a royalty system. Every time an NFT is resold, the original creator receives payment. With fees accumulated through smart contract code, it provides a guarantee that artists will continue to automatically receive royalties on their work even after the work is no longer owned by the original purchaser.

 

For the first sale of a new work of art, the original creator receives an 85% commission, while the gallery keeps 15%. On each subsequent sale, the content creator receives a commission of 3%. To date, more than 5,000 works of art have been created, with more than $500,000 raised for artists on SuperRare.

 

How to Mint NFTs on SuperRare

As quoted from coindesk.com, minting or creating NFTs on SuperRare is not as easy as clicking “Create,” selecting JPEG, and paying a gas fee. To sell art on the SuperRare platform, users must submit an official application and meet the site’s criteria regarding quality and rarity.

 

SuperRare provides an official form on Google that users can fill out if their work meets the platform’s standards. Applicants must attach an introductory video of approximately 1 minute and at least 3 of their best works of art in a Google Drive folder. SuperRare only accepts artists who submit original digital artwork that has never been minted on another NFT marketplace.

 

Due to its popularity, SuperRare will not respond to people who do not pass this registration process. However, if there is no response within about one month, the user can submit a new form for review. The advantage of this rigorous selection process is that SuperRare can control the quality of the NFTs allowed on its platform. From an artist’s perspective, membership in SuperRare provides additional prestige in the crypto art community.

 

SuperRare rewards artists by providing a 10% royalty on each secondary NFT sale as part of each NFT smart contract. Artists also earn 85% of their primary NFT sales.

 

Recently, SuperRare opened its doors to more NFT artists and curators through its SuperRare Spaces program. These spaces are described as “sovereign crypto art galleries” where operators control promotional activity, NFT drop schedules, and fees. However, because Spaces operates within the SuperRare ecosystem, it must still adhere to platform standards.

 

Those interested in managing SuperRare Space must answer 17 questions in the “Space Proposal Template” and submit their proposal on the official forum. SuperRare strongly recommends posting bids on its Discord server for community members to review before voting. SuperRare accepts as many as ten new Spaces in two monthly voting sessions. To participate in the Space Race voting, one must hold RARE tokens and participate in the 48-hour voting window. Even if one does not wish to create or manage NFT artwork on SuperRare, one can still join the community by holding RARE tokens and voting on proposals. This Ethereum-based token can be found on various major crypto exchanges, both decentralized and centralized.

 

How to Buy and Sell NFTs on SuperRare?

 

 

After understanding how to mint NFTs on SuperRare, it’s time to learn how to buy and sell NFTs on this NFT marketplace platform.<nbsp;< span=””></nbsp;<>

 

The following is an explanation of how to buy and sell NFTs on SuperRare, namely:

 

How to Buy NFTs on SuperRare

 

• First of all, connect your crypto wallet to SuperRare.
• Create an account on SuperRare by entering your email address and creating a username.
• Select the desired artwork from the marketplace. Each artwork displays the price and ongoing auction information by the NFT creator. The final period of each auction is also shown on each NFT in the marketplace.
• Click the “BUY NOW” button to purchase the desired NFT art. You can also click the “MAKE AN OFFER” or “PLACE A BID” button to join the ongoing NFT auction.
• Click “CONFIRM” to complete the NFT purchase.

 

How to Sell NFTs on SuperRare Marketplace

 

• Go to the “How to Join as An Artist” page and select the “THIS FORM” option. After that, you will be redirected to the SuperRare Google Form page.
• Fill in the personal data information according to the questions given.
• Upload a Google Drive folder link containing a video stating that you are the artist of the work you submitted and three to five works for the selection process.
• After filling in all the questions, click “SUBMIT”.

 

Getting to Know the SuperRare Curation Token

Quoting superrare.mirror.xyz, the instrument (tool) used to manage Spaces and DAO, is the $RARE curation token. The arrival of $RARE marks the first step in SuperRare’s commitment to progressive decentralization and sustainable change in the art market.

 

SuperRare’s mission is to empower the next generation of artists through technology that enables beauty and inspiration to be enjoyed by the world. Many SuperRare artists have achieved fame in the most prestigious galleries and collections worldwide. SuperRare itself hopes that shortly, extraordinary artistic talent will not be discovered through the traditional process by gallery owners but through $RARE community curators.

 

Thoughtful, high-quality curation has been a key element of SuperRare’s success both in the past and future. Every artist on SuperRare to date has been selected by the SuperRare Labs team creating an artistic community with a reputation for quality and innovation. That said, SuperRare Labs isn’t the only entity seeking uncovered artistic talent and value.

 

Therefore, the $RARE curation token was implemented to identify and empower new curatorial talent within the SuperRare community. The $RARE curation token will be the primary tool for joining a growing network of curators, galleries, and collectives, all serving as SuperRare Spaces. Curatorial decisions will be taken via token-based voting with community participation and implemented by the SuperRare Council.

 

Conclusion

In conclusion, SuperRare is a medium that brings together artists, art fans, and NFT collectors who create an interactive space where they can buy and sell works of art in NFT format. SuperRare emphasizes the level of exclusivity of its digital artwork. Any artist wishing to create an NFT on SuperRare must apply and receive approval from SuperRare Labs. Not only that, but SuperRare also requires that artists only submit one truly unique art NFT, guaranteeing that their work is truly “super rare.”

 

With SuperRare’s focus on fine art NFTs, the platform tends to generate higher sales per token. With innovative features like Sovereign Smart Contracts, SuperRare continues to be a dynamic place for artists and NFT collectors. For this reason, it is important to continue exploring and providing full support for developing the world of digital art and NFT on SuperRare.

 

You can also read other interesting articles about the world of NFTs, ranging from Rarible vs. OpenSea, which is superior to a list of 8 Best NFTs Marketplace and the most popular in the world only on INDODAX Academy.

 

So, now you understand the SuperRare platform, starting from its definition and inventor, how it works, its uniqueness and differences from similar platforms, and how to buy and sell NFTs on this platform. Next, if you are interested in investing in crypto assets, checking the crypto market at INDODAX Market first would be a good idea. After reviewing the price, you can buy crypto assets only on a trusted crypto exchange platform on INDODAX.

 

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