SuperRare RARE Price

What is SuperRare (RARE)?

SuperRare is a leading non-fungible token (NFT) platform that allows artists to create, sell, and trade unique digital artworks on the Ethereum blockchain. Launched in 2018, SuperRare has gained significant traction in the NFT space, providing artists with the ability to tokenize their work, ensuring provenance and ownership while also enabling collectors to acquire unique pieces. The native cryptocurrency of the SuperRare platform is RARE, which is used for governance and staking within the ecosystem. As of early 2024, SuperRare has facilitated the sale of over $200 million worth of digital art, showcasing its position as a prominent player in the growing NFT market.

Who are the Founders of SuperRare?

SuperRare was co-founded by three individuals: John Crain, COO; Charles Crain, CTO; and Alex Atallah, who played significant roles in the platform's development and growth. John Crain, an artist and entrepreneur, has a background in computer science and has been instrumental in building the SuperRare community. Charles Crain, with his technical expertise, has helped in developing the platform's infrastructure, while Alex Atallah has contributed to the strategic vision and expansion of SuperRare's offerings. The team's combination of artistic passion and technical skill has been pivotal in distinguishing SuperRare in the competitive NFT space.

How does SuperRare Work?

SuperRare operates as a decentralized marketplace where artists can mint their artworks as NFTs. The process involves several key steps:

• Artist Application: Artists must apply to be part of the SuperRare platform. Once approved, they can create profiles showcasing their work.
• Minting NFTs: Approved artists can mint their digital artworks into NFTs on the Ethereum blockchain. This involves uploading their art and creating a unique token that represents ownership.
• Sales and Auctions: Artists can list their NFTs for sale at a fixed price or set them up for auction. Collectors can bid on or purchase these unique pieces directly through the platform.
• Royalties: SuperRare allows artists to earn royalties on secondary sales, ensuring they receive a percentage of future sales of their work, which is an important feature for many creators.

The platform employs a curated approach, meaning that not all artists can mint their work; this helps maintain the quality and exclusivity of the art available on SuperRare.

Top Use Cases of SuperRare

• Digital Art Sales: Artists can directly sell their digital artworks, reaching a global audience without traditional gatekeepers.
• Collecting Unique Art: Collectors can acquire one-of-a-kind pieces from emerging and established artists, potentially increasing the value of their collections.
• Investment Opportunities: NFTs on SuperRare have appreciated significantly, with some pieces selling for hundreds of thousands of dollars, making it an attractive investment avenue.
• Community Engagement: SuperRare fosters a community of artists and collectors that engage through events, exhibitions, and social media, enhancing interaction and collaboration.
• Royalties for Artists: The platform's ability to enforce royalties on secondary sales ensures that artists benefit from the ongoing appreciation of their work.

How to Keep your SuperRare Safe?

Keeping your SuperRare account and NFTs safe involves several best practices:

• Use a Secure Wallet: Store your RARE tokens and NFTs in a secure, reputable wallet such as MetaMask or Ledger, which provide enhanced security features.
• Enable Two-Factor Authentication: If applicable, enable two-factor authentication (2FA) on your accounts to add an extra layer of security.
• Be Wary of Phishing Scams: Always verify URLs and be cautious of unsolicited messages or emails asking for personal information.
• Keep Software Updated: Regularly update your wallet and device software to protect against vulnerabilities.
• Backup Your Wallet: Keep a secure backup of your wallet's seed phrase in a safe place to recover access if needed.

By following these practices, users can significantly mitigate the risks associated with trading and holding digital assets on SuperRare.