Art has no restrictions, it can be a drawing, painting, sculpting or banana. Yes Banana, do you recall the banana found on the wall of the museum and the people found it wonderful and special art? Or the lost glasses that created the noise of art? Obviously, there are no limitations to art. SuperRare Crypto helps you digitally trade arts on the blockchain and prove ownership of art using the NFT ERC721 token.
Digital art is the art invading our era without our notice, it’s that decorating our screens and digital life. For this reason,for the appreciation of digital art and encouraging artists, SuperRare was founded and it runs on cryptocurrency, a currency that suits the art form.
SuperRare to date is using the cryptocurrency “Ether” for the gas fee since it operates on top of the Ethereum blockchain. However, there are rumors that SuperRare crypto’s own token is coming this year.
What is SuperRare?
SuperRare is a social network and marketplace of rare and unique digital art. SuperRare promotes interaction and connections between digital artists and art enthusiasts. It allows artists to sell their work to collectors after issuing a token. SuperRare runs on the Ethereum blockchain, making ether the used currency for SuperRare crypto tokens, but airdrop is the expected form of the future SuperRare crypto tokens.
SuperRare may have its own currency in the future, but it will still run on the Ethereum blockchain and will continue using a decentralized art NFT.
What is nice about SuperRare, that it’s a place artists can trust and guarantee that no one can steal their art. SuperRare works with Non-Fungible Tokens (NFTs), when submitting an artwork to sell, the artwork is tokenized on the Ethereum blockchain, as a (NFT) based on ERC721 smart contract. After the art is linked to NFT and the latter become on SuperRare, NFT will act as verification for the ownership of digital art and represent it.
In other words, the piece of art is turned into one unique special code which is NFT.
Who Are The Founders Of Super Rare?
SuperRare was founded in 2017 by John Crain, the Chief Executive of Pixura, Jonathan Perkins the Chief Product Officer of Pixure, and the Chief Technology Officer Charles Crain.
Social Collecting NFT
Non-fungible tokens, or NFTs, are tokens that represent arts, games or even digital cards, with each one being one of its kind. As its name indicates, it’s non-fungible, which means they are not interchangeable, unlike Bitcoin.
In SuperRare, NFT is an Ethereum token that is completely unique itself, exactly like the artwork.
Collecting Super Rare crypto arts means you are collecting NFTs. As a collector you scroll in the platform activity feed, you can like SuperRare arts, follow artists and buy any NFTs you like with its listed price, or bid with your suggested one, thus collecting arts and NFTs.
When you buy NFT using the accredited cryptocurrency for SuperRare crypto tokens, you have the right to resell or trade it legally to other collectors, because NFT preserves the rights of the original creator.
Is SuperRare Safe To Trade NFT?
NFTs in SuperRare use the ERC721 standard. ERC721 token is simply a smart token, but each one is special, no NFT can replace another one following this standard. Thus, by using the SuperRare ERC721 tokens, NFTs can be traded with no worries, because the original creator’s ownership for the digital artwork is always preserved, even if this NFT traded to other platforms out of SuperRare. NFT tokens can be traded to other marketplaces like Opensea and Emoon that use the same cryptocurrency SuperRare crypto tokens use (Ether).
Moreover, SuperRare adopts a non-custodial approach, which means they don’t control anything related to users. Only users can control their SuperRare crypto art associated with unique NFT no one can change it, thus ensuring a safer environment for trading NFTs.
How To Use SuperRare Marketplace?
What Do You Need to Know
Before anything, you must have ether cryptocurrency, since it is the base gas fee for trading art on SuperRare crypto on the Ethereum blockchain. You have to buy this cryptocurrency, and deposit some in Ethereum wallet, you can do so through Coinbase, which facilitates buying cryptocurrency from your local currency. MetaMask is a browser plugin that acts as an Ethereum wallet, thus it’s necessary to have a MetaMask account or other similar browsers, to use and interact on SuperRare.
MetaMask wallet facilitates NFT tokens based on ERC721 to be held, transferred, and received, after connecting the wallet to the marketplace, you will only need to verify your email or phone to log in and then deposit some funds in it.
You can use Superrare as a creator or collector, you can create your profile and portfolio to show your created artwork and authenticate each one with a unique NFT.
As a collector you create your own gallery by collecting Super rare arts through purchasing and bidding, show your customized profile and art collections and resell it to the secondary marketplace and other collectors, using SuperRare and Ether (ETH) for the gas fee.
Step By Step Guide to Buy Art on SuperRare
Here are some instructions to help you start on SuperRare, from starting one MetaMask Ethereum wallet till starting on SuperRare.
- Start by creating an Ethereum wallet, Metamask is the most recommended one, and sure you have to deposit some of SuperRare crypto used currency.
- Now, like any account you need to create a backup. On your screen will appear a text of 12 words, they are very important to restore your account if you lost your password for example, anyway save them privately.
- Once you create your profile on Metamask, copy the Ethereum address to your clipboard and go to the SuperRare website.
- The first step on SuperRare is to connect your wallet, then create a profile (username and email), followed by sending MetaMask Ethereum address as an email to the SuperRare team, because it must be added first to the whitelist to create an account, sale, or buy NFTs
- Look for the art you like and buy it. Your Metamask wallet will ask to approve the transaction and once you approve it, you own the art on the Ethereum blockchain.
As explained, fund your account with ether, and now you can either create and sell your artwork, or collect them and create a gallery.
How To Bid For Art In SuperRare Marketplace?
Once you’re connected to your wallet with SuperRare crypto accredited currency, you can purchase or bid on the artwork you would like to add to your collections. Bidding for SuperRare is very close to what happens in auctions. In auctions, antiques and rare pieces are displayed for sale, and the one who pays the highest price wins the piece. Who said that digital art is not rare and unique?
When you enter the marketplace and start scrolling, thousands of SuperRare crypto artworks are displayed from many artists, once you click on the one that attracted you the most, you will notice two options, purchase (buy) or bid.
According to the price of NFTs set, you bid with the reasonable price you want to pay for the artwork, after that the creator decides to sell you this work (NFT) or not.
How Are SuperRare Tokens Produced?
SuperRare tokens are produced on the blockchain Ethereum that, and as stated before, based on the ERC721 standards. Every creator on SuperRare wants to submit his artworks; he must create a SuperRare token, NFT.
Thus anyone with ether wallet, which SuperRare crypto tokens runs on,can purchase a token. But, artists can only publish their artwork on SuperRare and create a token for it. Artists have to fill the SuperRare application, its purpose to validate that the artwork you are willing to submit is original and created by you, that it not must be tokenized anywhere else on different marketplaces.
Once the token is issued it will be archived on the Ethereum digital blockchain database, which documents all transactions and records all the exchanges or movements of goods and services. Worth mentioning that for a token to be produced it also charges fees of a small percentage.
How To Sell NFT On SuperRare?
If you are new to SuperRare and you don’t know how to sell your NFTs, follow these steps after creating a profile on each of MetaMask and SuperRare.
Once you notice the SuperRare team confirms you are on the whitelist, you can go and start adding your first artwork to sell.
- To sell an artwork, it must be in one of the forms JPEG, PNG, GIF or MP4 and don’t exceed 50MB, add a name and description, add at least one tag and don’t exceed ten, set number of copies you wish to sell and the last step review the whole sections
- The most important part now, click on “issue token”, yes it’s the unique NFT of ERC721 standard that you can submit anything without getting it
- Agree to the three terms in the boxes and click “Begin Tokenization”
- A small screen will pop out which includes the transaction of Ethereum blockchain, with the total price in ETH, set a price and confirm
- Congratulations! Now you created an NFT token ready to sell
- In 3 to 5 minutes, your artwork will be displayed on your profile, and it is ready for sale
- Collectors can purchase directly the NFT or bid the price they well to pay, and it is up to you to choose a bid, to check bids, go to your profile and click on the “bids” button
One last thing to mention, as any platform, you can promote your work to increase its reach and get higher chances to sell your SuperRare crypto art.
How do you get hold of SuperRare art?
MetaMask is the best choice to get hold of SuperRare art using Ether, and after depositing it in ether wallet. MetaMask acts as an ether wallet and handles all the transactions and exchanges.
Both the creator and buyer have to pay SuperRare fees, these fees are known as gas fees. These fees are the charges required to execute transactions and generate a contract, a smart one. These gas fees are in a small percentage in ether,
However, these fees are not constant where they can vary a little depending on network congestion. Usually, for the buyer during transactions there is mainly a 3% fee, and take into consideration that for the first sale in a secondary market place, there is 85% of the commission paid to the original creator, and in other sales, it is only 10% (aka royalty).
The gas fee that a creator pays when adding artwork is estimated at $0.50-$2.00 worth of ETH per piece in a low gas fee scenario.
Takeaway – SuperRare Art Marketplace Review
SuperRare crypto tokens are based on ether till now, the second most popular and strong cryptocurrency after bitcoin, making SuperRare strong itself. But, you may receive SuperRare crypto airdrop tokens soon if you are an early adopter and use the product for some transactions.
Till 14 December 2020, SuperRare announced that 11,105 artworks have been collected, artists earned $4,632,125, collectors earned by secondary sales $1,101,543. Such huge and promising numbers!
SuperRare relies on NFTs that are based on ERC271 standards, thus as explained before, it guarantees original creator rights and preserves their ownership even in secondary sales.
If you are a digital artist that creates unique and nice artworks, SuperRare is your right place to show people your talents, connect with other digital artists and interact together, and most importantly, make a lot of money. Never hesitate and say no just give it a try, results will surprise you.
Create and collect NFTs on SuperRare, even collectors can create a unique gallery and make a lot of money. SuperRare can be a marketplace even for investing in crypto art, however, always be careful and check SuperRare crunchbase to get the latest information about their investors and funding information.
During the pandemic, SuperRare and digital art have developed and relied on a lot, giving chances to a lot of artists to create and gain. SuperRare is growing its popularity and making important steps in the revolution of the digital art collection in a world that is almost living in a digital environment.
Unleash the inner artist and the creativity within you, get a foothold in the world of technology and art, since art is not exclusive to papers and pens. Decorate people’s digital world with your touch and know its value.
I am a data analyst by profession who loves to crunch numbers at daytime and come home wondering how my passive income numbers for the day look like. I believe in being rich rather than looking rich. Follow me for Cryptocurrency, FIRE, Personal Finance, Credit Cards and Digital Nomad updates