Founded in 2018, SuperRare is an NFT marketplace platform focused on digital art, dedicated to providing a high-end, decentralized trading space for artists and collectors. The platform was co-founded by John Crain, Charles Crain, and Jonathan Perkins, and was initially powered by its subsidiary, Pixura. SuperRare is known for its rigorous artist moderation and high-quality work, and has been hailed as "the cross between Instagram and Christie's."
Project Overview
Release Time & Price: SuperRare went live in 2018 and the initial transaction price varies depending on the artist and work.
Total Circulation: The number of works on the platform is constantly growing, but each work is unique and created by moderated artists.
Issuance platform: Based on the Ethereum blockchain, supported marketplaces include the official SuperRare platform, OpenSea, and more.
Current Floor Price: Due to the variety of works and the large price differences, the floor price varies from one work to another.
Background & Ecosystem
Development Team: Co-founded by John Crain, Charles Crain, and Jonathan Perkins, John Crain was a product engineer at ConsenSys, a Web3 company. (NFT Evening)
Community features: SuperRare provides social features where users can follow artists, collectors, and participate in community activities to enhance interactivity.
Partners: Collaborated with several well-known brands and artists, including Gucci, Yeezy designer Ding Yun Zhang, 3D artist Antoni Tudisco, and more.
Business Model & Intellectual Property
Business Model: SuperRare makes a profit by charging a commission on the transaction, with artists receiving 85% of the proceeds on the first sale and SuperRare receiving a 15% commission; In secondary market transactions, artists receive 10% of royalty income.
Intellectual Property: The artist retains the copyright and intellectual property rights of the work, and the purchaser acquires ownership of the work, but not the copyright.
Controversy and Challenges
Market acceptance: Due to the high barrier to entry of the platform, the number of artists and works is limited, which may affect the diversity and activity of the market.
Intellectual Property Issues: Ensuring the rights of artists and copyright protection in secondary market transactions remains a challenge.
Conclusion
As a high-end NFT art platform, SuperRare has attracted many artists and collectors with its strict review mechanism and high-quality works. Despite facing challenges such as market acceptance and intellectual property rights, its unique business model and decentralized governance structure provide new ideas for the development of the digital art market.
