SuperRare
RARE
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Market
Market stats
$103.8M
$11.5M
648.3M RARE
6 days
#438
$2.97
-3.54%
-14.42%
-9.12%
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
About SuperRare
RARE is an Ethereum token that governs the SuperRare DAO, which oversees key platform parameters, allocates funds from the Community Treasury, and votes on proposed improvements to the network and protocol. The RARE token allows the SuperRare platform to be community-owned with diverse curatorial voices.
Resources
SuperRare (RARE) is a platform for non-fungible tokens (NFTs), with a focus on digital art. It has facilitated the collection of a substantial amount of digital art and compensated artists with royalties. SuperRare 2.0, a newer version of the platform, includes features such as web-scale curation, independently running storefronts, and sovereign minting contracts. This enables artists to mint, promote, and sell their works directly to collectors. SuperRare 2.0 operates as a decentralized autonomous organization (DAO), which means the community owns and governs the network. The platform's key parameters, community treasury funds, and proposed improvements are all managed through community voting.
SuperRare operates by addressing three key challenges in the digital art ecosystem: curation and gatekeeping by a single team, limited support for artists, and fragmentation of the NFT art ecosystem. To solve these issues, SuperRare introduced Spaces, independently-run storefronts that curate art and artists, promote sales, run auctions, and collect commissions. Each Space can launch its own branded ERC-721 token and invite artists to mint NFTs with them. Additionally, self-sovereign minting contracts allow artists to deploy a custom NFT minting contract, enabling them to tokenize and sell their art as uniquely independent artists.
SuperRare seeks to offer artists a platform for direct interaction with collectors. It also offers a solution for art curators and collectors, who can run their own Spaces, curate art and artists, promote sales, and collect commissions. Each Space can launch its own branded ERC-721 token, allowing it to operate as a sovereign crypto art gallery. Furthermore, SuperRare's self-sovereign minting contracts provide artists with the opportunity to tokenize and sell their art as uniquely independent artists, offering an alternative to minting on a shared contract with other artists.
SuperRare initially functioned as a platform where the core team selected artists to mint their works on a shared smart contract as SuperRare NFTs. However, with the launch of SuperRare 2.0, the platform has begun to decentralize, shifting ownership and governance of the network to the community. SuperRare 2.0 launched on a specific date. The platform is governed by a seven-person governance council that controls the Community Treasury via a 4-of-7 multi-sig wallet. The total supply of RARE, the platform's native token, is 1 billion, with distribution to the core community, the Community Treasury, core contributors at SuperRare Labs, investors, and strategic partners.
The curation process for artists on SuperRare is a combination of traditional application and community-driven selection. Artists who are interested in showcasing their work must first submit a portfolio for review. This submission puts their work under consideration by the Artist Curation team, which reviews submissions on a rolling basis. However, the curation process does not follow a typical application process with cycles of acceptance and rejection. The team does not provide updates on the status of portfolios, and due to the high volume of submissions, they cannot respond to everyone who submits. If an artist's status changes to "invited", they will receive a notification by email. SuperRare is transitioning towards a decentralized curation process with the introduction of Spaces. These are independent galleries that have been voted for by the community using Rare tokens. Each Space has its own curatorial style and approach, providing resources and tools to help artists develop and gain recognition. This allows for a variety of art to be featured within the digital art community.
SuperRare is a platform that emphasizes the uniqueness of digital artworks, aiming to ensure that each piece is one-of-a-kind. The platform also strives to maintain a high standard of quality for NFTs by implementing a rigorous screening process. SuperRare provides non-monetary incentives to its artists for every secondary NFT sale as part of each NFT’s smart contract. Artists also receive non-financial incentives from their primary NFT sale. In addition, SuperRare has introduced its native digital asset, RARE, which aims to enable artists to contribute to the platform's governance, including the admission of new artists to mini-marketplaces known as SuperRare Spaces. This approach seeks to offer a unique aspect to an artist's work and gives artists a certain recognition within the digital art community.