Released in 2018, SuperRare is an NFT marketplace based in the USA that utilizes the Ethereum blockchain. All the NFTs are ERC-721 and are considered cheaper than other marketplaces like OpenSea and Larva Labs, and it’s a good place for independent and popular artists to show off their digital products. We will look at the SuperRare marketplace and see if it’s worth your time shopping for art there.
What Makes SuperRare…Rare?
It is considered one of the first NFT marketplaces to promote artists to the next level. Its royalties for the artists allow them to receive profit from all secondary sales forever. Even if people start selling their artworks to another person, artists will still benefit from it.
Every transaction in SuperRare occurs on-chain, which provides more legitimacy for every purchase.
The tamper-proof record allows for transparent buys for both parties.
SuperRare’s user experience is also considered simplified thanks to its user-friendly catalogs and a filter system that allows you to section artworks based on your preference. Much like any NFT marketplace, SuperRare displays the NFTs with the latest bids, auction history, and the number of people that saw the art.
Its gallery also hosts unique art pieces that look good for wallpapers and digital portraits.
While it hosts exclusive artworks, it also has its share of non-exclusive releases, which explains why some of the NFTs can be bought and sold on OpenSea.The list of artists registered in SuperRare is long and has some of the most popular names like XCOPY and Anna Zhilyaeva. It includes a handful of independent artists looking to catch a break too. The art is not exclusive to just still images, though. You can find amazingly creative crafts, including videos and 3D images – all purchasable with ETH.
While the marketplace is very good for exposure, the costs are very high. It’s one of the highest gallery fees, with 15% for the artists and 3% for the buyers.
The artists will get a 10% royalty per sale, which is good enough given the number of members in the marketplace.
While 15% is still high, remember that it is much cheaper than fees in physical galleries, which can range from 30% to 50%.
The purpose of RARE is to discover and curate new artists. You will need ETH to purchase any artwork here. While other marketplaces allow PayPal and credit/debit, SuperRare only allows ETH for transactions. In October 2021, they created their token under the same name using the Ethereum blockchain. The market cap of RARE sits at $43M as of this writing.
SuperRare opts for a more simple type of digital art gallery where the art they display speaks for the overall quality that they curate. This is a go-to place for ETH purchasers as it allows for quick transactions and competitive auction prices.
The fees may be high for both parties, but the artists’ royalties are something for them to consider. It’s a place worth checking out, especially if you’re looking for classy artwork.