SuperRare (RARE) emerges as a dominant NFT marketplace, emphasizing the importance of high-quality digital art. By leveraging Blockchain technology, the platform provides a decentralized environment, benefiting both artists and collectors. The robust governance structure and experienced leadership further enhance its reputation, making it a significant player in the digital art and NFT space.
Who Founded SuperRare?
John Crain, Charles Crain, and Johnathan Perkins, the masterminds behind SuperRare, also co-founded Pixura, the technology powering the marketplace. SuperRare operates under a governance council that manages the Community Treasury via a multi-signature wallet. Prominent council members include Nick Tomaino, Derek Schloss, Serena Tabacchi, Simon Pop, and Pindar Van Arman.
How Does SuperRare Operate?
Built on the Ethereum Blockchain, SuperRare ensures the minting, trading, and verification of NFTs are secure and transparent. The platform uses smart contracts to lock NFTs listed for sale, releasing them only upon transaction completion. A timed auction model sets a reserve price for bids, and a secondary market allows bidding on unlisted NFTs. The platform’s decentralization is furthered by SuperRare Spaces, independently operated content hubs.
Key Takeaways for Users
SuperRare offers unique benefits for artists and collectors:
- 10% loyalty fee for artists on peer-to-peer sales.
- Collector’s commission of 1% on NFT resales, decreasing with each subsequent sale.
- Decentralized governance via the RARE coin, ensuring community-driven platform evolution.
Conclusion
SuperRare’s launch of the RARE coin in 2021 through a decentralized autonomous organization (DAO) underscores its commitment to decentralized governance. The coin facilitates decision-making and community involvement, ensuring the platform’s development aligns with user needs and preferences. This approach cements SuperRare’s role as a pivotal entity in the digital art and NFT realm.