Touted as the future of the non-fungible token (NFT) art space, SuperRare has announced the official launch of its RARE curation token.
The RARE curation token is expected to completely revolutionize the NFT art curation space. It will also be solely governed by community members and will also include different curatorial opinions. The launch of the community-owned RARE curation token indicates that SuperRare is placing the future of its network in the hands of its community members. The token launch will help to completely revolutionize the NFT art curation space as we know it as well as help ensure that SuperRare remains decentralized.
Introducing $RARE 💎
🎨 A revolution in NFT art curation
❤️ Community owned and governed
💥 Diverse curatorial voices
We’re putting the future of SuperRare and the power of curation into the hands of our community.
Find out how ⬇️https://t.co/lgqUqhFzFO pic.twitter.com/VgX3LEOLrx
— SuperRare 💎 (@SuperRare) August 17, 2021
A Brief History of SuperRare
On April 5, 2018, SuperRare minted its very first artwork. The artwork was immutably stored on the popular Ethereum blockchain platform. Since then, over $90 million worth of NFT art has been sold by more than 1,400 artists on the SuperRare platform. Thanks to SuperRare, artists have seen their dreams evolve into reality and hobbies have created more earnings than most artists ever anticipated. The completed transformation of the art market from a traditional space to becoming a well-organized digital space is also now a reality.
Though basically still nascent, the digital art space is making remarkable giant leaps. SuperRare’s plans for the decentralized digital art space is a pointer to how the digital art space should be shaped. The platform plans to ensure that power remains with community members, therefore ensuring decentralization.
The platform, in line with its RARE curation token and the entire SuperRare network, is based on three important product advancements: SuperRare Spaces, SuperDAO, and Sovereign Smart Contracts.
- SuperRare Spaces
SuperRare community members will have the opportunity to choose new voices independent of the platform’s Labs core team. The Spaces will be evaluated by community members and will be suitable as galleries for collectors, curators, and also community members to showcase their work. Every vetted storefront will receive a designated operator who will be in charge of overseeing the space. The designated operator is usually chosen via community voting.
- SuperRare DAO
SuperRare DAO is a decentralized platform powered by the holders of the SuperRare curation token – RARE. These community members, alongside the SuperRare governance council, are tasked with governing important aspects of the platform like the SuperRare Spaces, community treasury, and other important decisions that will have an effect on the platform’s future.
Also, all of SuperRare’s fees and commissions will now be routed to the newly introduced SuperRare DAO platform.
- Sovereign Smart Contracts
Thanks to the sovereign smart contracts, artists can now launch custom-made smart contracts. They can also bring in artworks minted somewhere else to the SuperRare platform.
About the RARE Curation Token
The launch of the RARE curation token is a pointer to SuperRare’s focus on facilitating decentralization and the progressive growth of the art market. The token will also help to build the next generation of artists in an unbiased fashion. The RARE curation token will help identify and provide support for new talent in the SuperRare community. All curation decisions will be made via community member participation. This is in opposition to the previous method of SuperRare Labs being in charge of selecting artists.
To further celebrate the launch of the RARE token, SuperRare is carrying out an airdrop. This airdrop is also being done to show appreciation to the community members. The platform has set aside 150,000,000 RARE tokens (15% of its total token supply) for its community members.