SuperRare Platform Features
The SuperRare platform can be thought of as a global art gallery and curation platform.
1. SuperRare has their own roster of talented artists and is known as the place where fine art meets NFTs.
2. All artworks sold on the SuperRare platform are 1 of 1 and unique. Superrare only offers single-version works. This is in stark contrast to most other NFT platforms, such as OpenSea. The Superrare platform does not accept repeated sales simply by changing a layer or a color, which ensures the scarcity and uniqueness of the artist’s work, as well as the quality of the platform’s works.
SuperRare Team
SuperRare was founded in 2017 by John Crain, Charles Crain and Johnathan Perkins Co-founder & CEO - John Crain John Crain is the co-founder and CEO of SuperRare. Prior to joining SuperRare, John was the Chief Product Spokesperson at ConsenSys, and worked as an Advertising Creative Technologist at Digitas North America.
Before founding Superrare, John was very interested in and passionate about both digital art implementation tools and blockchain technology. His original intention was to merge the two technologies and connect artists and collectors so that they can sell, collect and appreciate digital art first. He also distilled the core of Superrare into three words: "global, art, and barrier-free."
John explains the problem of how to assess the value of “real” NFT artworks
Much of modern art is abstract. Nevertheless, it is still subject to certain parameters that are usually present in existing art:
First works by established artists usually sell for more
When several artists collaborate, the value of the work increases
Products need to polish the stories of artists’ work, and users like to know stories about artists.
It can be roughly summarized that when the valuation of NFT is constrained by the above three parameters, each parameter is directly linked to the value and liquidity of NFT.
Three bidding methods on the platform:
1. Buy Now & Open Quote
2. Scheduled Auctions:
3. Reserve Auctions: Reserve auctions that start when the specified reserve price is reached (24-hour countdown) 4. There is also a secondary market within SuperRare where any user can bid and purchase
The Origin of Reserve Auctions
Prior to this, bidders participating in the auction had to keep track of bidding changes at all times during the auction.
In early 2019, California crypto artist Coldie (from the CryptoArt community) came up with a delayed auction method on Twitter to solve the problems caused by time zone differences among collectors. [Each new bid will extend the auction time by 24 hours to allow all collectors to catch up]. Later it was called the Coldie auction method (reserve style).
Then in December 2020, SuperRare also launched the coldie auction method, allowing each new bid to extend the auction time by 24 hours. This also became a new way to manage globally distributed auctions. This method proved to be a game-changer. It was quickly adopted by many artists on the platform.
Operation mode:
Like other decentralized applications, SuperRare requires users to connect a digital wallet to operate on the platform. All Superrare transactions are conducted in ETH.
Platform Fees & Royalties: (Featured as Collector Royalties)
In the traditional art market, many artists’ works cannot be sold at high prices at the beginning, but as the artists’ influence increases or collectors promote the artworks, the works may be sold at sky-high prices in the secondary market, but the artists cannot profit from it. This is not conducive to the healthy development of the market.
SuperRare was the first to pioneer the writing of royalty income into smart contracts, ensuring that artists can receive certain royalty income after the resale of their works. Now, this has become the industry standard for crypto art platforms and is imitated and adopted by many non-aggregate platforms.
SuperRare began further innovation in July last year, tying royalty income to collectors.
1. This new mechanism will enable famous collectors (e.g. Coldie) to actively promote the platform's collections in the market and actively explore less famous artists.
2. This mechanism will allow good collectors to earn more, while increasing the royalties received by artists and giving new artists more exposure opportunities. (It is a very healthy virtuous cycle) (Although this is much higher than the 2.5% OpenSea fee, it is much lower than the commissions charged by traditional galleries, which are about 25-50%.)
SuperRare Artist Types & Works Introduction PART A. Artist Types
PART A. Artist Type
Segmentation network for label combinations selected by the top 1,000 artists
The visualization data in the above network records the work category labels selected by each artist on SuperRare. From the above figure, it can be seen that some labels appear very frequently.
Most commonly chosen by artists: [3D] 17%
【abstract】 10%.
【Animation】 10%.
【GIF）】 10%.
【Surreal】10%.
Artwork historical transaction data:
1. Futurism, retro, science fiction and other themes are most frequently browsed by collectors (with the highest average transaction amount)
2. [3D Art] is the most viewed and traded category, perhaps because it is the most suitable for crypto art
The characteristics of the NFT medium.
3. Generally speaking, the number of views is highly correlated with the price, and artists tend to be more intuitive from the perspective of collectors.
Distinguish their work style and be selected
4. As in the traditional art world, NFTs with the [Manuscript] label often have lower transaction prices.
5. The overall tone of the crypto artworks on the SuperRare platform is more purple, (emphasizing a rooted in the old
The aesthetic system of nostalgia for science and technology.
PART B. Artists and Works
1. Coldie-3D art in collaboration with celebrities
Coldie is a well-known mixed media artist in the industry. His blockchain-themed artworks
Including the "Decentral Eyes" portrait series, with a very personalized visual expression, using 3D stereo split
Those who purchase his 3D artwork can redeem a pair of 3D glasses from the artist for free and enjoy
3D visual depth experience.
https://superrare.com/coldie
2. Don Diablo - GΞNΞSIS (1 of 1) Currently holds the sales record for the SuperRare first album category
https://superrare.com/artwork-v2/gξnξsis-by-don-diablo--21725
This NFT is composed of 3 elements: a never-released single + a music launchpad (holographic synthesizer)
Animation) + ink cartridge idea as background
Don started writing this particular song at the beginning of my career in 2001. He always
It took more than 250 hours to complete, but it has never been released. The original intention of the work is nostalgia and digital art and expresses the vision of the future of music.
3. XCOPY
Among all artists on the crypto art platform, XCOPY ranks first. XCOPY has sold 222 works.
The average selling price was $228,418, and the total sales on the SuperRare platform alone was $50,708,843.
XCOPY's highest sales were $7,088,229.
The artwork created by XCOPY explores “death, dystopia, and the past” through distorted vision, graphic loops, and collages.
The theme of "Bang and Indifference". Displayed as an image in GIF format.
How to become a SuperRare platform collaborative artist?
Radar sweep:
Adopting a screening + invitation mechanism (similar to the application of art schools), the review time is about 3-5 weeks.
Originality + Quality > Quantity of Works as Review Criteria (quality not quantity principle)
Submit an application form and artist profile including
1. Artist website / portfolio
2. Twitter / Instagram (Participate in more community activities & purchase more platform nft)
3. Additional websites/social links (include entire URLs)
4. Application video (1 minute, including personal introduction, artwork, any language)
5. 3-5 links to your works (demo)
6. Storyline, original intention, what makes you unique, why is it suitable for SR
SuperRare currently receives a large number of artist applications for admission every day, so the threshold is relatively high.
Once accepted, artists will enjoy the benefits of a thriving community of collectors and have full access to the full functionality of the SuperRare platform and community. The SuperRare DAO acts as a supply curator,
To ensure that low-quality creators and works do not appear on its platform. (During the application process, Superare DAO will review the artist's application and make the final decision.)
SuperRare's entry is similar to the artblocks review mechanism.
Art Blocks Presents: Works recognized by the Art Blocks team (star projects)
Art Blocks Curated : Cutting-edge projects selected by the Art Blocks curatorial committee
Art Blocks Explorations: Experimental Exhibition
Art Blocks Collaborations: Become a direct partner, such as Pace
SuperRare - Rare Token & Space Race decentralized community management
PART A.
1. RARE Token has begun to be issued as a token for community governance. It allows artists and collectors who participated early to gain a lot of financial benefits, which can be regarded as a reward for early users.
The price of RARE Token is approximately $0.13, with a 24-hour trading volume of $3,265,865. The market capitalization is $12,709,245.
2. Token airdrop: The number of tokens airdropped by SuperRare is 150 million, accounting for 15% of the total. Artists or collectors on the SuperRare platform can receive RARE token airdrops. The remaining part of the airdrop is mainly used for the governance of dao.
Rare Token Distribution
SuperRare DAO
SuperRare has begun transferring all platform commissions and fees to the newly formed SuperRare DAO.
SuperRare has established a DAO Committee to oversee the flow of funds in the SuperRare DAO.
SuperRare's management planning and platform development are already largely in the hands of the community.
PART B. Space Race (Independent Operation)
SuperRare began to propose decentralized experiments and launched space race in 2021.
The Space Race can be understood as a crypto gallery reviewed by the SupeRare community, and only the winners can be selected for the community competition.
The mechanism is that 2-3 crypto art galleries will be online every month to participate in the space race. Each space is supervised by a designated operator, who is elected by RARE holders. The elected operator will select artists, market the artists' works as they see fit, and receive commissions on sales earned through their space.
Every artist and gallery applying to participate in Space Race must submit a proposal, introducing your team, cooperating artists, and some of your own ideas. The RARE community holders will vote to decide the winner and invite him to join the space.
SuperRare DAO also receives commissions from the sale of spaces, distributing incentives directly to token holders through the blockchain to ensure that curators can curate all spaces added to the network with high quality. RARE holders will be invited to vote on which spaces should be online in the next cycle.
Museum of Crypto Art (MOCA) example: https://museumofcryptoart.com/museum/
MOCA rooms:https://app.museumofcryptoart.com/floor-auction
SuperRare also often invites cooperating artists to participate in the AMA discussion on Twitterspace to share their stories. Every week, the platform will also announce on Twitter the top 10 outstanding works selected by the curators of the week. (We can share SR's weekly AMA with Life of 21 and projects directly related to art)
RAREPASS - NFT Collector's Pass "RarePass:Genesis"
introduce:
250 rarepasses were limited to 250 units and sold out in just 6 hours, with a total revenue of over 3,000 ETH (about 4.5 million USD)
209 of the 250 passes were open to the public for minting, using the Dutch auction format. Starting from pass #33, the final price was 17.25 eth per coin.
#1 The rarest, the most valuable (limited time auction, the final transaction price is 138eth)
#2-32 (25 reserved for artists participating in RarePass, 6 reserved for community giveaways)
Finally, 10 are reserved for the SuperRare platform.
Currently, RarePass has opened the secondary market and can be bought and sold on OpenSea and SuperRare. The floor price of OpenSea's secondary market pass is 47 eth, with a total of 88 transactions and a total secondary market transaction volume of 2,313 eth. A 10% royalty is charged for each transaction.
Rarepass Benefits
Artwork airdrop once a month from 24 of the most famous artists in superare’s partnership (provided by one artist each month)
Draw 3 pass holders to receive 1/1 of the artist's artwork (more rare level)
Access to an exclusive high-end community of 250 passholders
New benefits will continue to be introduced over time
Summarize:
SuperRare's platform model, decentralized DAO audit mechanism, innovative expansion of collector royalties, and promotion of rarepass are all very novel and groundbreaking in the NFT field, and have also opened up huge possibilities for NFT creation and collection.
The NFT ecosystem is currently in the development stage and certainly needs more collectors to participate. In order to allow more people to own NFTs and continue to promote digital art, SuperRare has designed and applied various models developed by themselves to make the crypto gallery model not only benefit artists, but also lay out many new ways of playing based on the principle of decentralization.
The most worthy and valuable concept output is that this platform stands from the perspective of collectors, and wants more people to understand that the transfer of works does not mean that their relationship with the works has ended. Instead, they use this decentralized incentive model to discover more newcomers, artists, and collectors in the market. And most importantly, unlike many aggregation platforms, SR has always advocated changing the global art market with the core of increasing artists' royalties.
about Us
JZL Capital is a professional institution registered overseas, focusing on blockchain ecosystem research and investment. The founder has extensive work experience, has served as CEO and executive director of many overseas listed companies, and has led and participated in eToro's global investment.
The team members come from top universities such as the University of Chicago, Columbia University, University of Washington, Carnegie Mellon University, University of Illinois at Urbana-Champaign, and Nanyang Technological University, and have served internationally renowned companies such as Morgan Stanley, Barclays Bank, Ernst & Young, KPMG, HNA Group, and Bank of America.