What Is SuperRARE (RARE)?

Cryptocurrencies
What Is SuperRARE (RARE)?

What Is SuperRare (RARE)

SuperRare is a Non-Fungible Token (NFT) marketplace built on the Ethereum blockchain focusing on curated, single-edition digital artworks. Unlike other NFT marketplaces that may offer a wide range of digital assets, SuperRare emphasizes exclusivity and high artistic quality.

Artists who want to mint NFTs on SuperRare must submit their works and be vetted by the team at SuperRare Labs. SuperRare also requires artists to submit one-of-a-one NFTs that were completely original and not tokenized anywhere else, further emphasizing the uniqueness and scarcity of the digital art pieces available on the platform.

The vetting process focuses on quality over quantity, ensuring that only exceptional artworks are featured. Additionally, SuperRare requires artists to submit only one-of-a-one art NFTs, further emphasizing the uniqueness and scarcity of the digital art pieces available on the platform.

A focus on high-quality, unique digital art has attracted renowned artists and brands to launch exclusive NFT collections on the platform. For example, artists like Kevin McCoy, Don Diablo, and XCOPY have sold NFTs on SuperRare for over $1 million each. Additionally, established brands like Time Magazine and Gucci have utilized SuperRare to begin their foray into NFT drops.

How to Trade RARE

  1. Sign up for an account on the Flipster website or by downloading the Flipster app (Android or Apple).

  2. Click the [Trade] tab.

  3. Search for RARE and click on it.

  4. Select the leverage (up to 100x).

  5. Select either a Trigger Order or Market Order.

  6. Input the amount of crypto you wish to trade, or select a percentage of your available funds to use.

  7. Once you have confirmed the details, click the [Long] or [Short] button to open a position.

RARE Tokenomics

  • Name: RARE

  • Symbol: $RARE

  • Total Supply: 1,000,000,000 RARE

  • Current Price: $0.1304 (on 22 September, 2024)

  • Market Cap: $93,716,813 (on 22 September, 2024)

  • Token Distribution

  • Community Treasury: 40%

  • SuperRare Labs: 25.5%

  • RAREdrop: 15%

  • Investors: 14.5%

  • Partners: 5%

Notable NFT Drops and Sales of SuperRare

SuperRare positions itself as a premier platform for high-profile NFT drops and record-breaking sales. Some notable examples include:

  • TIME Magazine's auction of three NFT magazine covers in 2021.

  • A $2,000,000 sale of the "DΞSTINATION HΞXAGONIA" NFT in partnership with EDM musician Don Diablo, which also included a physical hard drive containing the music.

  • Record-breaking sales of individual NFTs, such as XCOPY's "Some Asshole" for 1,300 ETH and "All Time High In The City" and "Death Dip" for 1,000 ETH each.

Why Trade RARE

RARE is the governance and curation token of the SuperRare platform. RARE token holders can participate in the following ways:

Governance and Decision-Making

RARE token holders have voting rights on SuperRare Network Improvement Proposals (SIPs), covering areas from platform upgrades and feature additions to the distribution of funds from the community treasury. SuperRare 2.0 is shifting ownership and governance of the network to the community, allowing token holders to directly influence the direction of SuperRare.

Voting on Spaces

RARE is also used for voting on SuperRare Spaces. By making votes, you can help decide which curators and artists gain access to the platform, shaping the overall curation and quality of the art featured on SuperRare.

SuperRare 2.0

SuperRare 2.0 marks the NFT marketplace’s shift towards community empowerment and decentralization. Version 2.0 introduces several key features designed to give more control to the SuperRare community:

  • SuperRare Spaces: These act as independent galleries within the platform, allowing curators and artist collectives to showcase and sell NFTs based on their own curation criteria. This fosters diversity and empowers the community to shape the artistic landscape of SuperRare.

  • RARE Token: This governance token gives holders the ability to participate in decision-making processes, such as voting on proposals for new features, platform upgrades, and the allocation of funds from the community treasury.

  • DAO Governance: SuperRare is gradually transitioning towards a Decentralized Autonomous Organization (DAO) model, where key decisions are made collectively by the community through voting mechanisms facilitated by the RARE token.

  • Community Treasury: A portion of the RARE token supply is allocated to a community treasury, which is managed by the DAO. This treasury can be used to fund various initiatives that benefit the SuperRare ecosystem, such as artist grants, development projects, and community events.

Disclaimer: This material is for information purposes only and does not constitute financial advice. Flipster makes no recommendations or guarantees in respect of any digital asset, product, or service. Trading digital assets and digital asset derivatives comes with significant risk of loss due to its high price volatility, and is not suitable for all investors.