SuperRare is an NFT marketplace that is the leading curated platform for digital artworks produced by prominent artists and content creators. The platform is focused on distributing art-oriented NFTs and, hence does not list NFTs associated with games, domains, or music.
In this article, we will take a closer look at SuperRare to understand what the digital collectibles marketplace is all about and how it works. We shall also explore its native RARE cryptocurrency, learn its use cases within the ecosystem, predict its price going into 2030, and list exchanges where the token can be traded, before determining whether it is a credible cryptocurrency investment.
What Is SuperRare And How Does It Work?
SuperRare is one of the most prominent NFT marketplaces focused on displaying art-oriented digital collectibles. The platform prioritizes quality over quantity, which makes it an exclusive space for crypto art.
Since its founding in 2018, SuperRare has generated more than $300 million in total sales, with artists earning up to $180 million. The marketplace is regarded as one of the earliest champions of perpetual artist royalties and is working on improving art discovery and decentralizing the NFT market.
Instead of listing NFTs related to digital gaming assets, web domains, or music, SuperRare encourages artists to create a piece and tokenize it, helping it become a unique digital collectible with high value. NFTs on SuperRare can be bought, sold, and even held. Moreover, artists can place their creations on auction.
The Ethereum-based marketplace enables the minting, transaction, and verification of NFTs. Furthermore, SuperRare is non-custodial and locks the seller’s NFT in a smart contract at the time of listing and releases it only when a sale is initiated.
Just like other NFT marketplaces, SuperRare employs a timed auction mode, where auctions are set up with a specific reverse price that bids need to meet. It also operates a secondary marketplace for art NFTs, allowing users to make an offer for collections that have not been listed on the main platform for auction but are visible.
SuperRare rewards creators with a 10% royalty for every sale of their art and has also implemented a collector’s commission that pays 1% to the first collector when they sell an NFT. These commissions are drawn from the network fees, which are paid by the sellers and buyers.
What Is The SuperRare Token ($RARE)?
RARE is the native utility token of the SuperRare NFT marketplace. RARE is a curation and governance cryptocurrency that gives SuperRare community members a share and membership on the platform.
SuperRare is governed by RARE holders through the RareDAO, a decentralized autonomous organization (DAO) managing the marketplace. The ERC-20 standard cryptocurrency is issued on the Rare Protocol, which is an ecosystem that is focused on unifying the fragmented NFT landscape and enhancing the industry’s ability to revolutionize the economics of human creativity through innovation in blockchain.
All buy, sell, trade, and listing transactions are done using RARE. SuperRare users can pay network fees either in ETH or RARE, with RARE holders getting a discount on goods and services.
RARE Tokenomics
SuperRare token (RARE) has a maximum supply of 1 billion tokens, out of which, over 700 million are currently in circulation. The cryptocurrency has a market capitalization of $172.06 million and attained a trading volume of $628.42 million over the last 24 hours.
At the time of writing, RARE is trading at $0.2451 – down 35.83% from the previous day.
SuperRare (RARE) Price Prediction: 2024, 2025, 2026, 2027, 2028, 2029, 2030
Based on its current market value, we have projected the minimum, average, and maximum prices at which RARE could change hands between 2024 and 2030. Do note that the prices given below are purely hypothetical and could change depending on market conditions.
| YEAR | MINIMUM PRICE | AVERAGE PRICE | MAXIMUM PRICE |
|---|---|---|---|
| 2024 | $0.22 | $0.45 | $0.54 |
| 2025 | $0.53 | $0.61 | $0.63 |
| 2026 | $0.72 | $0.85 | $0.89 |
| 2027 | $0.94 | $1.05 | $1.10 |
| 2028 | $0.94 | $1.05 | $1.10 |
| 2029 | $1.16 | $1.33 | $1.35 |
| 2030 | $1.65 | $1.75 | $1.83 |
Where Can You Buy And Trade SuperRare (RARE) Token?
Here are cryptocurrency exchanges where you can buy and trade RARE:
Is SuperRare (RARE) A Credible Cryptocurrency Investment?
SuperRare is a leading NFT marketplace, which specializes in the listing of tokenized art pieces. The platform prioritizes quality over quantity and hence does not offer NFTs related to games, domains, or music. SuperRare is one of the first NFT platforms to offer creators royalties on their art, providing a generous 10% royalty on every sale paid in ETH or RARe, according to the creator’s preference.
SuperRare is managed by the RareDAO, which consists of team leaders and RARE token holders, ensuring that the marketplace’s management is decentralized. Looking at the prospects of SuperRare, it is clear that the RARE token will be in play as the NFT art market gets back in business. All things considered, I would recommend SuperRare and its RARE token as a credible cryptocurrency investment.
As is the case with every cryptocurrency, RARE is also prone to the extremely volatile nature of the crypto market. Therefore, you must do your research to fully understand the benefits and risks of investing in SuperRare before making the decision.
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