SuperRare Review: Exchange, gallery and social network

12.07.2022
SuperRare Review: Exchange, gallery and social network

SuperRare is primarily an NFT market, the system of which was combined with the classic social network format.

Perhaps, we will start our review of SuperRare with the main points. A distinctive feature is the decentralization of the platform. Blockchain was taken as the basis Ethereum, since it was this network that was suitable for the main criterion to a social network – security and the ability to process and store a large amount of data. All NFTs on marketplace are based on the ERC721 standard.

Social networks

About the creators of the marketplace SuperRare

In the SuperRare review, of course, we will also tell about the authors of the project. It is owned by Pixura, which, during the first round of venture financing, was able to raise 9 million USD as an investment. The creators are John Crane and Jonathan Perkins.

Marketplace SuperRare in numbers

Data are for the last 30 days at the time of publication.

  • market cap $6.16 million
  • sales volume $180.79 thousand
  • the most expensive NFT purchase on the marketplace was $7.08 million in early December 2021. NFT “Right-click and save as guy” bought collector Cozomo de’ Medici.

    NFT Right-click and save as guy bought collector Cozomo de' Medici.
    NFT “Right-click and save as guy”

The main features of the marketplace as a social network

SuperRare is an amazing first of its kind project, the potential of which is revealed through the opportunities provided through the social network format. Everything that we will tell you about below in the review of the NFT marketplace is one of the main sections of the NFT marketplace.

NFT marketplace SuperRare
Menu on the main page of SuperRare
  • Gallery

The project team went beyond standard marketplaces. And they opened a real NFT art gallery.

NFT art gallery
NFT-gallery in NY

It serves as a space for the promotion of NFT art, networking, the search for attractive art objects, the community of artists and collectors. The gallery is located in New York and is open Monday through Saturday. Also, in the gallery there is an interval change of expositions, the organizers hold various exhibitions.

  • Spaces

The project team implements DAO on a large scale. Thanks to him, the SuperRare DAO community elects various SuperRare Spaces. These are independent store directories designed to promote artists and their NFT collections.

SuperRare Spaces
Real Space “The Foundry – MoCDA”. Artists and their works are presented in the space

As the authors themselves say, the DAO community is formed from $RARE token holders. This innovation will help define the future of art and culture for the digital generation.

  • Trending artists

In this section, you can see all the top artists, their work, sales volume and the most expensive sales. In the same section, you can subscribe to the artist to follow his feed and news.

Trending artists on the marketplace
Top 3 artists by sales volume of all time on the marketplace
  • Top collectors

In this section, you can see all the top collectors, how many works they bought and for what amount, how much they earned on resale, as well as the most expensive NFT purchase. It is here that one of the most famous NF T-collectors Cozomo de ‘ Medici.

Top collectors on the NFT marketplace
Top 2 collectors by Total purchases for all time on the marketplace

 

  • Blog

The project team actively blogs and publishes all the news about the marketplace, art, Web 3, DAO. The social network is one of the main features of this marketplace.

  • Superrare Magazine

The project team maintains a magazine about art, artists, exhibitions and various events in the art world. This is very surprising!

Superrare Magazine
SuperRare web magazine main page Magazine

 

  • SuperRare Shop

SuperRare went further and even created their own store. The platform has its own merch and distributes it to the masses. Prices range from $20 to $100. The store can ship your purchase anywhere in the world, or you can buy from the same gallery in New York.

SuperRare Shop
Offline sale of merch in a gallery in New York

How to connect and register in SuperRare?

This is one of the key sections in the SuperRare NFT marketplace review. To work with marketplace, you will need to get a crypto wallet to your browser. It can be MetaMask or any of its equivalents, because thanks to the Wallet Connect application, it becomes possible to use almost every popular extension for Google, Opera and other browsers.

So, your actions are:

  1. Open the main page and click the Sign In button, located on the pinned menu at the top of the site.
  2. Further click Select a Wallet. If the user wants to get to the FAQ page and learn a little more about the system, then he should click on the First button time sitting up a wallet?
  3. Choose a convenient way to connect a crypto wallet.

    connect a crypto wallet
    The window for selecting the desired wallet for transactions.
  4. Further pass authorization in the browser extension wallet, confirm the connection of the storage to marketplace. Switch connection network to Ethereum mainnet.
  5. If you have not previously registered on the SuperRare site, the system will notify you that such an address is not linked to any account. Click on the inscription Would you like to sign up instead? She is located under the large Switch button address.
  6. Further the main window for creating an account on a social network will open. Here you need to enter your username and email.Opt setting in to the marketplace Newsletter can be disabled if you do not want to receive informational messages from the site to your specified email.
  1. To confirm the binding of the crypto wallet to the created account, it is necessary to put a digital signature through the extension in the browser.
  2. Congratulations! You are now officially one of the SuperRare users. A thematic feed feed will immediately open, which can automatically select content for the tastes of each person.

 

How to create your own NFT and place it on the site?

Also one of the key questions in the SuperRare review. At this stage, only users approved by the administration can become an NFT author on marketplace. To do this, you must fill out a special form through Google tools. You can find a link to submit an application in the footer of the site, you need to scroll down any page all the way down and turn to the column For Artists (you won’t be able to do this on a page with a feed feed). And you need to click on the Submit button artist profile.

The site administration adds an extremely limited number of new artists

The form must include:

  • first and last name;
  • give a link to a personal website or portfolio in a different form;
  • link to Instagram
  • link to Twitter;
  • add other links to social networks and sites;
  • e-mail;
  • upload a video file to any popular video hosting, in which you need to tell about yourself and your art, the approximate duration of the video is 1 minute;
  • folder link Google Drive, which contains 3-5 personal works that are worth exhibiting on the site;
  • explain why these NFTs should be liste on SuperRare;
  • confirm your authorship for all submitted works;
  • how did you find out about SuperRare.

You need to understand that the creator of any work of art in the cryptographic space receives not only lifelong recognition, but also financial dividends. The art creator charges a 10% commission on each subsequent NFT resale.

How to buy NFTs on NFT-marketplace SuperRare?

In our review of the Superrare, we will consider this issue. To buy NFT on marketplace, you need the following:

  1. All transactions with NFT are carried out through our own marketplace. You can go to it by clicking the corresponding Market button at the top of the site page.

    How to buy NFTs on NFT-marketplace SuperRare
    Switching to the marketplace and choosing the right NFT
  2. Find and click on the NFT art you like. Each card provides basic information about the lot being sold: the price (or the size of the last bid if it is an auction), the amount of the last token sale, the artist’s account (creator of the work) and the current owner.
  3. Further the NFT page will provide more detailed information about the lot. Make button. an Offer (if this is a free sale) or Place a Bid (if this is an auction), which you need to click on to buy a token.

    How to buy NFTs on NFT-marketplace SuperRare
    Lot overview window on marketplace
  1. The current value of the token will be immediately presented, and the user can offer his own price, which cannot be less than the set threshold. In this window, you can make your offer at the NFT purchase price. These costs are necessary to cover the site commission and gas payment to the transaction.

How to sell NFTs on NFT-marketplace SuperRare?

Also one of the key questions in the SuperRare review. Despite the fact that the creation of tokens is only available for a certain circle of users, the trading functions are fully activate. Selling NFTs on the site is available in three ways:

  1. There are two kinds.
  • The first one is reserve, when the amount of the reserve is set, reaching which the timer starts one day before the end of trading. It is best suite for those sellers who are not in a hurry to sell the goods, but want to receive a certain amount for their lot. After the set time has elapsed, the user who offered the amount exceeding the reserve parameter becomes the new owner.
  • The second is a scheduled auction. To do this, select the starting amount of the lot and the duration of the auction. In any case, the auction will end when the set time expires, and the owner of the NFT will be the one who offers the most other users.
  1. Classic proposal. Each user can offer his own amount for the purchase of a particular slot. The seller is not obliged to give his work until the price suits him. There is no need to do any special actions, all NFTs are automatically added to a common database where the item can be found by the collector.
  2. Buy now. The seller sets a fixed amount, but at the same time he can receive any offers above the specified level, and the user is not obliged to agree with the terms of the potential buyer.

RARE tokenomics

In our SuperRare review, we won’t miss out on RARE’s own coin. The owners of their own RARE coin are members of the SuperRare DAO. And as a token holder, you can curate the platform, control market parameters, and add your voice to the project. The maximum supply of RARE is 1 billion tokens, but now only 15% of them are in circulation. Below is the distribution of tokens in DAO.

RARE token
$ RARE token distribution

Marketplace fees

  1. For initial sales:
  • The artist receives 85% of the sale amount;
  • SuperRare DAO community treasury receives 15% of the sale amount;
  1. For secondary sales:
  • The seller receives 90% of the sale amount;
  • The original artist receives 10% of the sale as royalties.

If you buy NFTs, then a 3% commission must be add to the sale price, which goes to the treasury of the DAO community.

Forecast and prospects of the project

As a result of our review, let’s summarize that SuperRare is a young project, but this did not prevent it from becoming a place where you can sell your creativity at the highest price. Often the connection of two spheres or concepts becomes the reason for the appearance of something extremely popular or disastrous. In this case, we are sure that the team has chosen the right concept: they have combined a marketplace, a gallery, a store, a magazine, a blog. And we think they won’t stop there.

SuperRare will fill its own niche for fans of NFT art. And the current system for selecting only high-quality tokens allows marketplace to become a place where you can find an interesting and unique offer that is not presente on any other marketplace.

Also you can read our other reviews about NFT marketplaces: