Rating

1/10

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Best of SuperRare

• Artists curated list
• Collaborations with the conventional art world
• Royalty payments are guaranteed

Diego G. Crypto Enthusiast

Updated: September 8, 2023

SuperRare Marketplace Review: A Serious Art-Focused Platform SuperRare only trades art NFTs and ensures that each item is a one-of-a-kind artwork by hand selecting which artists can mint NFTs on its platform. Find out if SuperRare is right for you by reading our whole review. TYPES OF NFTS Art FEES 3% cost on all purchases, […]

SuperRare Marketplace Review: A Serious Art-Focused Platform

SuperRare only trades art NFTs and ensures that each item is a one-of-a-kind artwork by hand selecting which artists can mint NFTs on its platform. Find out if SuperRare is right for you by reading our whole review.

TYPES OF NFTS

• Art

FEES

• 3% cost on all purchases, plus gas expenses. On the first sale, the gallery receives a 15% commission.

BLOCKCHAIN

• Ethereum

PLATFORM FEATURES

• Services: Buy, mint, sell
• Supported Wallets: MetaMask, Fortmatic, and Wallet Connect
• Payment Methods: Ethereum only

More

• SuperRare is a premium marketplace for dedicated artists and digital art aficionados.

Pros:

Cons:

Complete review of the SuperRare marketplace

For art enthusiasts and artists who are passionate about digital art.

What is SuperRare?

Users can trade curated NFTs from a select group of hand-selected artists on the SuperRare NFT platform, which focuses on the arts. By bridging the gap between traditional art buyers and NFT platforms, SuperRare’s user-friendly platform makes NFTs available to more established art buyers.

Top benefits

A selection of artists

SuperRare meticulously screens and only accepts a select group of creators, ensuring that every artist featured on the marketplace meets their standards.
As a result, there is significantly less chance of purchasing a fake work, and the quality is higher than on other markets. Each work also has a single edition. On several platforms, users can produce a run of limited editions, but on SuperRare, every item is one-of-a-kind.

Partners with the realm of traditional art

SuperRare has a foot in the actual world of art. Recently, it collaborated with Miami Art Week to develop an NFT and digital art experience. A platform that connects the physical and digital worlds may be appealing as collectors and artists consider how traditional art and NFTs may interact.

Royalty payments

Artists receive a 10% royalty every time their work is resold, and they earn 85% from the initial sale. These fees are embedded in each token through smart contracts, ensuring artists continually profit from their work. Under the SuperRare model, collectors also earn royalties.

Areas for Improvement

Exclusively utilizes the Ethereum network

The most widely used blockchain for NFTs is Ethereum (ETH), however it also has the highest petrol (transaction) fees and a significant carbon footprint. A significant improvement of Ethereum is now underway, however it won’t be finished until 2023. Users can construct and trade NFTs on other blockchains like Solana (SOL) or Polygon using other well-known NFT platforms (MATIC). It would be beneficial if SuperRare provided its consumers with this choice.

Surprisingly high fees

SuperRare is a cross between an NFT platform and a conventional art gallery. Because of this, its fees aren’t competitive with those of pure NFT platforms that do more volume trading. The 3% cost on every purchase is greater than elsewhere, and it doesn’t provide choices for gasless minting (as several marketplaces provide).

Unsuitable for new NFT traders

SuperRare caters to dedicated artists and collectors, offering premium artworks that often come with a higher price tag. If you’re new to NFT investing, you might find more beginner-friendly options on less specialized platforms.

Potential Alternatives:

• If you’re looking for a larger variety of NFTs, check out OpenSea, one of the largest NFT markets available, which offers a vast assortment of goods, including domain names, music, photography, art, and more. Compared to SuperRare, the costs are also less.
• If you’re looking for a multichain marketplace, Rarible supports Tezos, Flow (FLOW), and Ethereum if you prefer to use non-Ethereum blockchains (XTZ). It is attempting to integrate Solana as well. By enabling users to utilize alternative blockchains, gas expenses can be significantly reduced.

Platform features

SuperRare showcases unique artwork created by a number of carefully chosen artists. Users have access to SuperRare Places, which are stores that have been professionally curated in addition to the normal market. The neighbourhood can take part in the organization’s decentralised governance as well. The site can be curated by those who own the SuperRare token (RARE).

Services

NFTs, or non-fungible tokens, are minted, purchased, sold, and displayed on the art-focused website SuperRare. It markets itself as “Instagram meets Christie’s” and offers digital artwork from a select few hand-selected creators.

Blockchains

All of SuperRare’s NFT transactions take place on the Ethereum blockchain. The most widely used network for NFTs is Ethereum, but it has issues with network sluggishness, high fees, and high environmental costs. On some NFT marketplaces, transactions are now possible on other, less crowded blockchains. This has the potential to lower costs and carbon footprint.

Supported Wallets

Payment methods

SuperRare only accepts Ethereum as a form of payment. Unlike some platforms, SuperRare does not take credit and debit card payments or permit transactions and payments on other blockchains. You can buy Ethereum from any trusted cryptocurrency platform or exchange and then transfer it to your digital wallet.

Fees

The fees for SuperRare are a little bit more than those for other sites. The commission is also cheaper than what a conventional gallery may charge.

The primary fees are listed below:

• On every purchase, customers are charged 3%.
• A 15% commission is given to the gallery on the first sale.
• Every successive sale results in a 10% royalty payment to the artist.
• There are transaction-specific Ethereum fuel fees.

What NFTs are available to buy on SuperRare?

SuperRare focuses on trading rare NFTs, as its name suggests. The marketplace exclusively offers single-edition works and only admits a small number of highly vetted artists. The platform has over 30,000 NFTs as of March 2021, and the average cost of a SuperRare NFT is less than $4,000 (however this figure is prone to change). SuperRare does not trade other NFTs like metaverse real estate, music, movies, or sports memorabilia.

Is it safe to use SuperRare?

The co-founder of SuperRare confirmed to BTCBox that no artwork on the website has ever been involved in money laundering or faced any security breaches. With SuperRare, users don’t save their assets on a single platform. As a result, there is a lower chance of being a hacker target. On the other hand, the security of your possessions is largely your responsibility.

Phishing attacks pose a risk because they deceive you into disclosing your personal information by pretending to be a reputable sender of email or text messages. There are safeguards in place at SuperRare to keep users safe, such the option to confirm that the person you’re speaking to on Discord is an actual staff member. It would be beneficial to see more anti-phishing measures, though.

The prevalence of fraud, which is a significant NFT risk, has increased. Many artists have voiced concerns about NFTs being produced without their permission or being used in ways that infringe on their copyrights. Because to the meticulous curation of its lists of artists and works, SuperRare’s platform makes it unlikely that this will occur.

SuperRare Could be the Right Choice for You if:

• You are a collector seeking carefully chosen and unique works of art.
• You are a well-known artist who requests royalties on every sale.
• You feel at ease using Ethereum and covering the petrol costs.