The Best Crypto Exchanges to buy and hold SuperRare (RARE)

The Best Exchanges to buy and hold SuperRare (RARE)?

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Non-fungible tokens (NFTs) are one of the blockchain revolutions that has recently swept the world. Despite its explosive popularity, NFTs are still relatively new and complex for beginners. There are platforms that try to make it easy to buy/sell NFTs without having to understand the details one by one. SuperRare is an online marketplace that allows users to trade digital collectibles without a code.

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What is SuperRare?

The amount of money going in and out of collecting art is staggering. Naturally, the buyer must have confidence that he is dealing with a genuine product. NFTs contain digital art that connects blockchains like Ethereum, so the original owner can be traced.

SuperRare is a decentralized marketplace and social networking venue for NFT artwork. SuperRare leverages the Ethereum network to allow creators to create works of art and connect them with unique, indistinguishable tokens. After minting a new NFT in SuperRare, other users can buy, sell, trade or HODLed it. As soon as NFTs are sold, they can be sold at any price on any NFT marketplace. In addition, on the SuperRare platform, creators can earn royalties even after their NFT works are sold. This means that digital artists can now earn additional income when their work is traded on secondary markets.

In SuperRare, users can like, leave comments, follow, and interact with other NFT creators and collectors, so it is a kind of SNS-like function. On the homepage, you can also specify a personalized feed to check recent transactions, and you can filter by artist or work.

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A Brief History of SuperRare

SuperRare started in 2017 with the idea that John Crane, Jonathan Perkins, and Charles Crane could create an art marketplace that was perfect for the growing digital space. Then they officially launched SuperRare in 2018. The trio are also the founders of Pixura, a platform for creating, tracking and trading crypto collectibles. SuperRare is effectively driven through the Fixerra technology layer.

Since its inception, SuperRare has received a tremendous welcome from digital art creators and collectors. In March 2021, SuperRare ended its funding period, which raised approximately $90 billion in investments from Velvet Sea, 1confirmation, Ashton Kutcher’s Sound Ventures, Chamath Palihapitiya, Mark Cuban, and more.

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What is the principle of SuperRare?

Like other decentralized apps, SuperRare requires users to connect their wallets to run on the platform. Metamask is the most commonly used digital wallet for this purpose. Since all SuperRare trades are done in Ether, the NFT buyer must have Ether in their wallet.

SuperRare takes a 3% commission per purchase paid by the buyer. In the artist gallery, 15% of the sales amount is received as a commission from the first sale, and the remaining 85% is passed on to the creator. Artists can also receive a fixed royalty of 10% for each primary sale they make. This means that creators can enjoy passive income if their work continues to be traded.

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What makes SuperRare different?

Launched in early 2018, SuperRare is an early leader in the NFT ecosystem, providing an easy way for digital creators to tokenize their artwork with Ethereum. Now that the world is crazy about NFTs, SuperRare is the most active digital collectibles marketplace with a huge community as the mainstay, boasting millions of dollars in artist revenue to date and a huge competitive advantage.

Compared to other NFT trading platforms like Opensea, SuperRare is unique in that it allows creators to mint new NFT works only by requesting approval. SuperRare evaluates an artist’s application using a formula that reflects multiple metrics such as the applicant’s social media, art style, and platform community engagement. In this regard, SuperRare is a kind of curator for supply, and serves to ensure that low-quality creators or works cannot be placed on the platform.

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The uniqueness of SuperRare art work (1 of 1 unique)

Another distinct characteristic of SuperRare is that every piece sold on the platform is unique. As the name suggests, SuperRare contains only single-edition pieces. This is in contrast to other NFT platforms, such as OpenC, which allow creators to cast the same work multiple times.

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The future of SuperRare

NFTs are the hottest and trending center of the crypto world, which is building a maniac. While some believe that NFTs are sweeping the market with speculative sentiment, NFTs have the potential for creators’ economic growth, creating new revenue channels for digital artists and influencers.

Platforms like SuperRare work for the democratic advancement of the art collection world by curating works and collectibles by famous artists. Collectors now have access to authentic digital creations, and creators have new ways to generate income. Under the mission of decentralizing the creator economy, ironically, SuperRare has to act as a centralized intermediary that blocks all low-quality works and closes all transactions on its own. SuperRare is at the forefront of the NFT revolution, but only time will tell if it will be able to navigate the volatile crypto space.

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