Ethereum NFT Marketplace, SuperRare has now launched its token—it’s got a wealth of $150 million to give away

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SuperRare 2.0 launches with 150 million RARE tokens distributed in airdrop and community-voted galleries for artists to get on board

SuperRare, an NFT marketplace that has been around for a long time now, is taking steps to decentralize its model with the launch of a “Curation Token” and DAO governance. Users & artists are given SuperRare tokens for helping and can vote on other projects to support. The current airdrop is worth 150 million RARE tokens, the largest in blockchain history.

SuperRare, a decentralized art store utilizing blockchain technology, has taken steps to make the service more decentralized. To make this happen, SuperRare has initiated a new “Curation Token” which will be the main ruling power for community operations. This token is also a decentralized autonomous organization(DAO).

SuperRare used to have the final say over the artists on the platform. But now, RARE token holders will be able to call the shots and help choose artists of all sorts for a more diverse selection.

SuperRare Spaces are a great way to take care of a lot of the work and hassle for artists starting their own stores. Artists create their store in our gallery & then start selling when they’re online with little to no fuss. We share sales revenue with them. SuperRare has called this voting process an “International Space Race” and will release two new Spaces each month for the next 12 months.

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The recent creation of the SuperRare DAO will authorize token holders votes and use their growing treasury to make smart investment decisions. SuperRare also held special town hall meetings to discuss the DAO’s genesis governance council. This is going well so far, and artists are excited about the new NFT marketplace features. They will be able to use custom smart contracts for some major benefits—NFTs are a new type of blockchain token that follows specific code and rules, meaning they can only be used in certain ways. Sovereign Minting Contracts are a new type of NFT and can be found on the Ethereum blockchain.

“Decentralization has been at the center of the SuperRare ideology since day one,” It looks like today’s announcement post has already been read. “During the early stages of platform development, it was practical to keep governance decisions internal, driven by the vision of an agile founding team. However, our baby is now all grown up, and ready to face the world on its own. As the expression goes: if you love something, set it free.”

To kick off the governance system, SuperRare will award 150 million RARE tokens to people who have already used the platform. This is 15% of the total supply. The amount of rare tokens a user receives varies with personal stats & numbers. Tokens must be claimed within 90 days, so find out more here https://www.superrarecoins.com/post/124602

SuperRare was launched in 2018. The NFT market had a surge when they were first created, which means SuperRare is one of the best places to trade assets on the market. In the first 6 months of this year, $2.5 billion worth of transactions has taken place at NFT marketplaces. A recent SuperRare sale saw notable drops from TIME Magazine and well-known digital artist Beeple. NFTs work like a deed of ownership for digital items, including still artwork, video files, and more.

SuperRare, the crypto trading app which can handle $90 million worth of trading volume, is now live in more than 38 countries. SuperRare just raised $9 million in a star-strapped seed round. Mark Cuban, SamsungNext and Ashton Kutcher’s Sound Ventures were all on board.

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The NFT market was sluggish earlier this year, but the recent resurgence in trading volume shows that there is still a significant interest and demand for them. OpenSea is capitalizing on the popularity of digital collectibles like CryptoPunks & Bored APE Yacht Club by providing a secondary market where users can buy them. We’ve seen that their trading volume this month has been more than $830 million.

SuperRare is pretty low in volume right now, with just over $13 million so far this month. However, it’s more expensive than most other competitors in terms of NFT sales. Dune states monthly NFT sales are higher on SuperRare at an average of over $14,400 per sale in comparison to about $9,770 per sale on OpenSea. SuperRare only sells single-edition items. Other platforms may offer open edition or larger-scale projects.

Rarible, a new Ethereum-based NFT platform also has a token called RARI. They launched it in July. One of the main differences between various marketplaces is centralization. OpenSea and Gemini-owned Nifty Gateway are centralized, while Oyster is decentralized.

Disclaimer: The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.

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