SuperRare is a blockchain-powered social networking platform for art creators and collectors
SuperRareis a blockchain-powered social networking platform for art creators and collectors. Creators can create digital works and tag them on the ethereum blockchain. Thanks to smart contracts, collectors can buy and trade artworks whose royalties can be returned to the creators.
Cryptocurrency collectibles aren't just cartoon kittens; SuperRare uses the power of the ethereum blockchain to make digital art rare and provably rare.
Founded by Crain in 2018, SuperRare is an online gallery where users and artists can post and purchase original digital artwork. Anyone can join the platform and start collecting one with just an ethereum wallet like MetaMask.
An artist who genuinely wants to explore other venues is exactly the kind of person SuperRare hopes to attract. This is part of the reason why the process of simply purchasing work is only slightly less rigorous than joining the platform's network of artists.
"You pretty much just have to show that you're a serious artist," Crain said in an interview with BTCManager. "We go through a weekly review process where we go through a portfolio of potential artists to see if they're a good fit."
Once an illustrator or designer is allowed to post their artwork on the site, they are also immediately eligible to start earning real digital currency, specifically Ether (ETH). As of press time, no artwork reached CryptoKitty's parabolic levels in 2017, but the concept does reveal a more sustainable collector experience.
Each time an artist submits their .gif or .jpg creation, a token is generated that is permanently tied to the artwork. This token is recognized by the Ethernet network and therefore requires an ETH-compatible digital currency package. From there, collectors are able to buy, trade or sell such tokens (as well as digital rights) representing the artwork. Alternatively, artists can set stagnant prices for works that cannot be bid on.
Once a buyer has purchased an artwork, the sponsorship mechanism supported by the smart contract ensures that the creator is compensated. When another purchaser buys the token, and thus the artwork, the same mechanism begins and the creator receives a percentage of the bid. The digital art value chain on platforms such as SuperRare is very different from the traditional art world.