SuperRare rare

SuperRare is an NFT marketplace built on Ethereum. Its marketplace allows users to buy, collect, bid or sell art and combines social community features.

Unlike other NFT marketplaces, SuperRare (as the name suggests) specialises in unique 1-of-1 editions of an NFT artwork or digital collectible—this is substantially different to other platforms where users can issue many editions. Artists receive continuous royalties for all secondary sales on their artwork.

Each artwork on SuperRare is a digital collectible–a digital object secured by cryptography and tracked on the blockchain. That’s just a fancy way of saying they’re provably scarce items that can be collected, and that hold value just like cryptocurrencies like ether and bitcoin.

SuperRare has 2 core components to its platform: an NFT marketplace and social community features:

• Platform: Users can sell, buy or bid on unique NFTs, with all transactions settled in ETH. SuperRare 2.0 will see a new platform and features such as a curated Spaces product and the ability for users to create their own contracts. SuperRare takes a portion of sales via fees in the marketplace: 
  • Marketplace fee: There is a 3% transaction fee for all purchases paid by the buyer.
  • Artist gallery commissions: For primary sales, SuperRare take a 15% commission (creators receive 85%), and all creators receive a 10% royalty on secondary sales.

SuperRare’s native token is RARE, an ERC-20 token with a maximum supply of one billion.

RARE’s primary utility is as a curation and governance token. Decisions will be enacted using token-based voting with the community’s participation and implementation by the SuperRare Council. Currently, the following network parameters are governable by token holders:

• SuperRare Spaces: The total number of Spaces, curatorial requirements to operate a Space, associated minimum/maximum fees and commissions.
• Artist onboarding: Number of artists admitted to SuperRare, frequency and method of artist expansion, or any minimum portfolio criteria to be accepted.
• Treasury operations and management: Establishment of artist and developer grant programs, expenditure of treasury assets and influence over the future movement of the platform.

RARE was distributed as follows: Community treasury (40%), SuperRare Labs (25.5%), $RARE drop (15%), Investors (14.5%) and Partners (5%).

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