SuperRare focuses on the niche of exclusive art from highly sought after and rare artists in the digital marketplace. You are not going to see some of the varied categories that you would on other pages here, but the platform does well with what it chooses to focus on.
SuperRare at a Glance
- It operates exclusively on the Ethereum blockchain
- Only digital art is provided
- There are both a primary and a secondary marketplace that handle newer and resold items, respectively
Commissions and Charges
The fees for buyers and sellers on SuperRare are quite different. Of course, the fees represent a percentage of the price and are often used for platform profit or transaction funding.
On the SuperRare platform, artists pay an incredible 15% gallery fee. you would be hard-pressed to find another NFT marketplace that charges similar fees. however, you would be able to find a couple that charge the same.
Thankfully though, on secondary sales of art pieces, original creators receive a 10% royalty for each sale.
NFT buyers also pay a fee, which is only 3%. Compared to other platforms, this represents a pretty competitive charge.
There are no allowances made for payment option variety. Ethereum is the only accepted method at this point. It’s unclear if there are any plans to expand this, especially considering other platforms, such as Rarible, have done so in the past.
On SuperRare, you connect your account to an existing and supported Ethereum wallet and credit it with enough cryptocurrency to complete your transaction.
Some NFT marketplaces accept credit cards, debit cards, PayPal deposits, etc. You are not finding any of these options here.
NFT platforms are hugely defined by the categories that they offer. Typically, greater variety is an indicator of a stronger platform, but SuperRare went against that meta and successfully so. It’s definitive proof that the “master of one” ideology can apply to tremendous effect in the NFT world.
Since SuperRare is art-oriented, this is the extent of the category present here. The artist complement is as massive as it is impressive. The art styles are highly varied, spanning conceptual art, realism, or animated designs.
If you’ve ever been to a high-value art gallery in the real world, you are going to quickly notice that SuperRare feels like the virtual equivalent of that.
Of course, the professionals are not the only noteworthy artists here. Numerous up-and-comers are also in the mix, as they display what they can do.
Certainly, the landscape of NFT art has gained tremendous popularity since its inception. 2021 saw a huge jump in patronage, and experts are contemplating whether the trend could represent the future of ownership.
SuperRare is a US-based NFT marketplace that has been around since 2018. After recently securing $9 million of venture capital funding, the Pixura-crafted platform is now acknowledged as “Series A.”
It functions exclusively on Ethereum, meaning it can take advantage of the advancements and security of the crypto technology. The marketplace uses a peer-to-peer design and allows the buying and selling of ERC-721 tokens.
Instead of doing what so many other NFT marketplaces have done by spreading their offerings across different categories, SuperRare decided to focus all its efforts on art.
Even the pieces present highlight the exclusive feel since they tend to be single-edition exotic artwork.
Selling on SuperRare is not the easiest process in the world, which is understandable since the marketplace prides itself on art that goes beyond the common types present elsewhere.
Sellers need to first apply to list on the platform. Thankfully, the application is simple, but it does ask for a commitment to certain quality standards. For example, NFTs must be created by account owners, original, and not tokenized elsewhere.
As a buyer, you have a pretty simple process to deal with. SuperRare offers both fixed price and auction sales. The latter means that the seller is not obligated to provide the item to you.
Note that if you are not comfortable with the list price, you are allowed to make a counteroffer. With that, and assuming you have linked the platform to your ETH wallet, you then either choose to purchase the item for the listed price or make an offer.
Intuitive prompts follow allowing for the sale to be executed. If successful in the purchase, you can find the NFT in your profile’s collection.
Creating with SuperRare
Provided you’ve been accepted onto SuperRare as a seller, the actual NFT creation process is not difficult. You are going to need to browse to the superrare.com/tokenize URL. This only works once you have been approved as a seller.
Upload your digital file and fill in all the required information, such as date, creator, description, etc.
Minting is the final step, and the tokenization process runs for hours before completion. Additionally, you’re responsible for the Ethereum gas price, which should be in your crypto wallet.
Pros and Cons of SuperRare
- Offers a stellar collection of rare art pieces
- Very intuitive user interface
- Competitive purchase rates for buyers
- The focus on only art makes SuperRare adept at what it does
- You cannot complete transactions on the platform unless you have an Ethereum digital wallet with cryptocurrency loaded
- Premium paid by sellers is quite high
A Few Interesting Facts about SuperRare
SuperRare uses a double marketplace system to separate newer items from those being resold and traded.
The combined haul from investors such as Velvet Sea Ventures, 1confirmation, Shrug Capital, Mark Cuban, etc. saw SuperRare obtain $9 million worth of venture capital.
SuperRare is at the beginning stage of implementing a social media NFT element into its design.
While you should go to another platform for any other digital asset, you would be very hard-pressed to find anywhere better than SuperRare if you are interested in digital art.
If this sounds like it’s up your alley, go ahead and register on the SuperRare platform!