SuperRare

What is Super Rare?

SuperRare Token (RARE) is a utility token that powers SuperRare. NFT a platform that allows users to buy and sell NFTs. NFTs, short for non-fungible tokens, are unique digital tokens that are different from traditional (fungible) crypto assets. This is so because NFTs are unique, which means that one NFT cannot be replaced by another. Tokens can act as digital certificates for any real digital object. However, they are mainly used to represent digital art such as drawings, paintings and music.

Check out the SuperRare price chart above to see the current price of RARE.

Returning to the SuperRare crypto project, unlike some other NFT marketplaces, SuperRare only deals in exclusive digital works of art.. You must apply and receive approval from SuperRare Labs before minting NFTs on their platform. Additionally, artists should only submit NFTs one-on-one to maintain the highest rarity of the listed assets.

Initially, the core team hand-selected and approved artists to publish their work in the public domain. smart contract. However, Super Rare 2.0 was launched in 2021, transferring ownership and control of the network to the community. New version of the platform presented contracts for curation and creation of web scales it allows artists to mint, advertise and sell their art directly to collectors. Thus SuperRare became decentralized autonomous organization (DAO). Using smart contracts, the organization monitors the performance of the platform, manages funds in the community treasury, and allows the community to propose and vote on improvements to the network.

Who founded SuperRare?

The co-founders of the SuperRare crypto project are John Crane and Jonathan Perkins. The company behind the project is called SupeRare Labs. John Crane is the CEO of SuperRare. Previously, Crane led product development for ConsenSys’ BlockApps Inks division. He has also worked with Fortune 500 companies exploring smart contract use cases. On the other side, Jonathan Perkins software engineer and entrepreneur. He has a diverse background in web application development. Perkins has also worked for companies such as Wells Fargo, CrewSpark and Reaktor.

Additionally, since SuperRare is a DAO, executive management does not make decisions in the traditional sense. Instead he has seven-member management board which implements decisions made by RARE holders.

What can you do with SuperRare tokens?

The SuperRare token (RARE) was introduced in SuperRare 2.0. SuperRare crypto asset is SuperRare DAO curation and governance token. It supports the entire SuperRare 2.0 ecosystem. RARE is based on ERK-20 token standard.

In fact, RARE token holders can take part in the governance process proposing and voting on what the future of the SuperRare crypto project should look like. In addition, owners of RARE coins can take part in admission of new artists to SuperRare Spaces, which are small NFT marketplaces. In addition, RARE tokens are used for reward usersand payment coverage inside the platform.

Super rare tokenomics

The SuperRare token was launched with a total supply of 1 billion. In terms of token distribution, 400 million SuperRare tokens have been reserved in the community treasury, and approximately 255 million have been allocated to the core members of SuperRare Labs. In addition, 145 million tokens were allocated to early investors, and another 50 million were allocated to strategic partners and future network participants.

The price of RARE reached an all-time high of $3.79 per token on October 11, 2021. However, on May 12, 2022, it hit a record low of $0.1365. Why is he hesitating? Essentially, the price of SuperRare is influenced by many factors, including the performance of the NFT market. For example, the value of RARE remained relatively high during the NFT craze that occurred in 2021.