NFTs or Non-fungible tokens have taken the crypto community by storm this year. Art, music, and various digital assets are being sold off for millions of dollars using this technology. These are digital tokens of ownership created using blockchain technology which provides increased security, transparency, and cannot be tampered with. Artists, art collectors, and enthusiasts from all over the world have welcomed this latest internet sensation. Because of this, many NFT marketplaces like OpenSea, Raible, Foundation, AtomicMarket, SuperRare, etc have risen in popularity. SuperRare is one such NFT marketplace and social network for artists and collectors developed on the Ethereum blockchain. You can create your own NFT marketplace like SuperRare with Cryptosoftwares SuperRare NFT development services.
What is SuperRare?
SuperRare provides a new way for users to interact with art, artists, and collecting. It is a platform developed on Ethereum to trade ERC-721 NFT tokens. As the name indicates, they only market pieces that are single edition. There is also a social network part to the platform using which users can follow, like, and interact with their favorite artists and collectors. They call it social collecting and believe that collectors and artists deserve a platform to socialize based on their shared passion. SuperRare highlights the top collectors, trending artists, pieces they’ve purchased or created, and the amount of ETH they have spent or acquired.
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How does SuperRare work?
On SuperRare, artists can create artworks and link them with ERC-721 non-fungible tokens. These tokens cannot be replicated, and are as unique as the artwork itself. Once the NFT is listed on SuperRare, it can be purchased, sold, or even saved up as a long-term investment. Artworks can be put up for auctions inviting bids from different collectors, or sold for a set price. All transactions are conducted with ETH. Artists can make use of interactive features like virtual reality to personalize their profiles and exhibit their artworks to potential buyers. The complete history and source of an artwork can be tracked down correctly using blockchain technology on SuperRare.
The smart contract feature of SuperRare enables creators to earn a share if their artworks are resold. The fees for artworks are collected using smart contracts. Artists can effortlessly earn automatic payments for their works even long after it is initially sold. The creator receives 85% of the price on the initial sale of the artwork and 15% is the commission of the platform. On any sales after that, artists receive a 3% share. More than 5,000 artworks have been sold on the platform and over $59 million in fees have been earned by artists on SuperRare. $31 million has also been earned in secondary sales, with an average resale value of 6,383%.
Currently, SuperRare only features the artworks of a few hand-picked artists. New artists can send their profiles to get featured on the platform.
Features of SuperRare
The ‘Activities’ page of SuperRare is similar to the Facebook or Instagram feed of a user. A highly personalized news feed of artists and collectors on the platform is displayed here. Bidding statuses offers made, new works created, buying and selling news, etc… are shown on this page. Also, the trending artists and top collectors on the platform are featured on the right side of the page.
The Features page is an exciting space on the platform. Collaborators, artists, and communities can host projects, exhibitions, special releases, and much more here. Artists can showcase their work here. They can present their artworks as images, videos, and descriptions for reference and context for potential buyers and art collectors.
The Market is where all the action takes place on SuperRare. Here, you can find all the different NFT art pieces posted for sale on the platform. The market provides users the options to filter the listed items based on the creator, and if the piece has a reserve or list price, or an open offer. Also, searches can be sorted according to the price, age of the item, and the end date of the auction.
The Community menu shows the list of SuperRare’s social media handles on Twitter, Instagram, Discord, Reddit, and Youtube, its Medium blog, editorial, and the $RARE coin. The Medium blog publishes weekly news updates and occasional industry announcements. The editorial provides daily updates and announcements about the various NFT artists on the platform. It is the best place to keep track of current and future art sales and auctions.
The $RARE curation token is a way to recognize and enable new curatorial talent in the community.
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Create NFT Marketplace Like SuperRare
SuperRare is already one of the leading NFT marketplaces. The platform’s curation unique social media feature has already set it apart from most other NFT platforms. Launching a similar NFT marketplace with Cryptosoftwares’ will provide your platform the attention and trust of artists and art collectors. At Cryptosoftwares we offer premium white-label NFT platform development solutions.
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