SuperRare review and guide

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Pros and cons of SuperRare

Pros

• Exclusive platform. If you're a seasoned collector after the best-of-the-best NFTs, SuperRare is a platform to check out; it considers itself a curator of fine art.
• Supports popular wallets. SuperRare supports MetaMask, Fortmatic and WalletConnect; some of the most well-known and popular crypto wallets out there.
• Simple and clear interface. The site is clear and straightforward to navigate, even for crypto newbies.
• Fees and royalties clearly laid out. All fees on primary and secondary sales are clear, and there's a full overview of how royalties work on the platform.

Cons

• Artists must be approved. Not anyone can mint on SuperRare. To become a creator on the platform, you must be invited or complete a lengthy creator application.
• High primary sales fee. SuperRare takes 15% of the amount on primary sales for its decentralized autonomous organization (DAO), and then a 3% marketplace fee added to all sales that's paid by the buyer.
• Exclusive art means exclusive prices. Since SuperRare prides itself on rare, exclusive art, its prices tend to be higher than other NFT marketplaces.
• Can only list SuperRare art. You can't list any NFTs for sale that were minted outside of the SuperRare platform.

True to its name, SuperRare focuses on exclusive works of crypto art. By acting like a real-world art dealer, SuperRare may not appeal to users just starting out in the world of NFTs.

Our take on SuperRare

SuperRare wants to only list the best NFTs from the best creators in the space, which it refers to as true crypto art or digital art. SuperRare aims to be the high-end art dealer of the NFT world, all powered by the Ethereum blockchain.

Image source: SuperRare

One of the key selling points for NFTs is the idea of scarcity. When you purchase an NFT, you buy a unique item. But recently, some artists have taken to creating multiple unique NFTs of roughly the same item by creating different editions.

SuperRare exists to push back on that trend, focusing on exclusive crypto art. SuperRare defines crypto art as NFTs that have their entire history — creation, tokenization, artist and every subsequent purchase and sale — encoded on the blockchain.

Although important, it isn't simply the technical data that makes an NFT eligible to classify as a piece of crypto art. What's equally important is the age-old idea of curation: selecting the best pieces from all the average ones. SuperRare applies that idea to NFTs.

It charges higher fees, displays art from better-known NFT creators, and frequently sponsors special collections with similar themes. However, you can't sell NFTs minted outside of SuperRare at this time and becoming a creator isn't easy.

About SuperRare

SuperRare is a well-known NFT marketplace, with an estimated 1.2 million site views in January 2022 as reported by Statista. Its Discord server has over 38K members, and 3.7K redditors following r/SuperRare.

In the last 30 days, SuperRare has had a $154.69K trading volume as reported by DappRadar — and that's out of 62 total sales. The average sale price is around $2,490, to give you an idea of the typical going prices of NFTs on the platform.

SuperRare is more for experienced collectors, and you may need a stuffed wallet. Many featured NFTs are listed around 5 ETH — about $5,800 at the time of writing.

Image source: SuperRare

The above NFT is currently listed for 5.15 ETH. It's pretty common for collectors on this platform to spend well over $6,000 on a single NFT, so it's something to keep in mind when checking out auctions and listings.

While SuperRare is an exclusive platform, it features educational resources for new users, clearly outlining its fees, royalties, how to become a creator and even how to set up a crypto wallet for the first time. If you're willing to drop a couple thousand dollars on rare NFTs but you're completely new to NFT collecting, SuperRare could help ease you into the space.

SuperRare blockchain and currency

SuperRare is built on Ethereum, much like other popular NFT marketplaces like OpenSea, Foundation and Rarible. SuperRare does have its own token, called RARE, which functions as a governance token for its DAO.

To make purchases on SuperRare, you need an ETH-compatible crypto wallet and ether (ETH), Etheruem's native asset. You can buy ETH on nearly every major cryptocurrency exchange.

What types of NFTs are available on SuperRare?

SuperRare is considered an art gallery and NFT marketplace, and mainly focuses on digital art.

On the market, you can sort listings by: still image, 3D artwork, GIF, and video. Comparatively, many other NFT marketplaces are called mixed marketplaces, featuring many separate genres of NFTs such as trading cards, memes, photography, music, gaming and so on.

SuperRare is exclusively for digital art so if you're looking for a variety of NFTs or NFTs with utility, you may want to go to a market like OpenSea or Nifty Gateway.

Image source: SuperRare

How to buy NFTs on SuperRare

SuperRare refers to buyers as "collectors," and any crypto art purchased on SuperRare is automatically displayed in a user's collection.

Follow these four steps to get started with SuperRare and become a collector:

1. Connect your wallet. SuperRare supports three digital wallets: MetaMask, Fortmatic and Wallet Connect. Select Sign in on the main site to choose your desired wallet. You'll also need ETH in your wallet for gas fees and purchases.
2. Create an account. Set up a username and password, then follow a simple verification process. You need to accept — also known as signing — the prompts that come up on your wallet to finalize your account.
3. Browse listings. Scroll down from the landing page to reveal the activity feed, which displays artwork for sale and auctions that are soon ending. You can also select Art on the homepage to reveal a dropdown menu showing Art, Series and Features.
4. Buy the NFT. Once you've found the NFT you want to buy, make a purchase through auction, an offer you're making to a collector or a fixed price sale. Once you've followed the prompts and confirmed the transaction, the NFT is displayed in the Collections tab of your profile.

SuperRare has three sale methods:

• Auctions — There are reverse auctions and scheduled auctions. In a reverse auction, there's a reverse price set but no timeframe where the price needs to be met, but once it's met, the auction ends in 24 hours. For scheduled auctions, there are start and end times and an optional starting price.
• Offers — An offer system that allows for all collectors to make an offer to any NFT that's not currently for sale. Offers can be withdrawn at any time.
• Buy now — Features a fixed price, or list price. If a seller has a fixed price, other collectors can make an offer and the seller can accept outside offers.

You'll be able to see how the NFT art is being sold while browsing the market, or by selecting the NFT you want to buy and taking a look at its tags and description.

Image source: SuperRare

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Compatible exchange: Gemini Cryptocurrency Exchange

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Minimum Deposit

151
Cryptocurrencies

7
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• Pros and Cons
• More Info
• Details

• Wide range of exchangeable currencies
• User friendly
• Newcomer incentives
• Insurance on currency balances up to $250k
• Balances can earn interest

• High fees on mobile app
• Missing some notable top 20 currencies
• No linked debit cards available

Gemini is a cryptocurrency exchange with a simple UI that's user-friendly and accommodating to newcomers and experienced traders.

Gemini's strongest point is its Gemini Earn program, which allows users to earn up to 7.4% interest on specified cryptocurrency balances.

Gemini has a wide selection of cryptos available for exchange on the platform. However, some notable entries from the top 20 by market cap are missing, such as Cardano and Solana.

Deposit Methods	Bank transfer (ACH) Cryptocurrency Debit card PayPal Apple Pay Google Pay SWIFT
Deposit Fees	Cryptocurrency: None Bank transfer (ACH): None, bank fees may apply Wire Transfer: Determined by your bank Debit Card: 3.49% + Trading Fees Paypal: 2.50% of total deposit amount + Trading Fees
Withdrawal Fees	Cryptocurrency: None (for 10 withdrawals and below per month) Others: None (for 10 withdrawals and below per month)
Trading Fees	Taker fee - 0.03-0.4% Maker fee - 0-0.2%

Popular creators on SuperRare

SuperRare highlights its top artists, and you're able to sort the artists by total sales, works created, highest sale and more. Additionally, keep in mind that artists on SuperRare must be invited or complete an application to produce work on the platform, so creators are typically high profile.

Here are some of the top artists of all time on SuperRare, in alphabetical order:

Image source: SuperRare, "Contraction Routine" by Pak

How to sell NFTs on SuperRare

You can only sell NFTs that were originally minted on SuperRare, so all sales on the platform are SuperRare NFTs.

A cool feature with SuperRare is that your collected NFTs could sell without you doing anything except accepting an offer, since any collector on the platform can make offers on your owned art.

To sell an NFT, you either need to be a creator or be selling an NFT that you bought from SuperRare.

Selling owned NFTs starts with going to your profile, viewing your collection, and setting up the sale with any of the manual sale methods (auctions or buy now price).

Minting on SuperRare

Becoming a creator on SuperRare is an entirely different conversation than secondary sales. Requirements for sellers on SuperRare are higher than on many other NFT marketplaces.

To become a creator without an invite, you need to apply to SuperRare. The application itself is simple, but requires creators to commit to particular standards. Any NFT listed on SuperRare must be original, created by the owner of the account and — most importantly — not tokenized anywhere else.

If you've been accepted onto the SuperRare platform, there's a simple process to create an NFT: Upload the file, complete its details, then mint the token. You also need enough ETH in your connected digital wallet to cover the gas fees.

To complete a creator application, open the menu on the homepage of SuperRare and select Submit artist profile and complete the Google document. You'll need your name, artist website or portfolio, email address, an application video, some narrative or story behind your work, and there are some optional fields such as social media accounts.

SuperRare fees

SuperRare charges sellers a 15% commission on all primary sales. That's high for most NFT marketplaces, but is low compared with real-world art galleries, which is the model SuperRare is trying to replicate.

Royalties	Artist receives 10% on all secondary sales.
Primary sales fee	Artist receives 85% of sale price, SuperRare receives 15% of sale price for its DAO. Buyer pays 3% marketplace fee on top of the sale price.
Secondary sales fee	Buyer pays 3% marketplace fee on top of the sale price. Seller receives 90% of sale price, artist receives 10%.

SuperRare NFT drops

SuperRare doesn't call its NFT drop page an actual "drop" page like many other marketplaces — instead, you can find the latest releases and projects on its Features page. The page (seemingly) goes on forever, so there are many projects and artists to check out.

Image source: SuperRare

Is SuperRare marketplace legit?

SuperRare is a legitimate NFT marketplace. Its development started in 2017 and officially launched in 2018 — not much younger than the giant OpenSea.

The SuperRare platform is based on Pixura, another company from the same founders. Pixura markets a code-free NFT builder, allowing everyone from individuals to companies to make and integrate their own NFT marketplaces.

Both platforms receive good marks for security, with only a few internal issues reported. However, the broader NFT market is at risk of fraud, as SuperRare's own editorial team reports. Anyone buying and selling on SuperRare needs to be wary of any unusual requests for information or malicious files as part of a safety-conscious approach to managing crypto assets and NFTs.

SuperRare's unique features

SuperRare has a Shop where you can buy SuperRare clothing such as shirts, hats and sweaters. The T-shirts run at around $40, hats are around $40 to $45, and crew necks are almost $80. Not terribly expensive, but not particularly cheap either.

Image source: SuperRare

Other marketplaces to buy NFTs

Bottom line

SuperRare managed to find a niche within the NFT sector. By focusing on collectible high-quality pieces of digital art, the platform has become the high-end gallery of the NFT world.

With a clean interface, it's easy to browse collections and flexible curation allows users to keep track of their favorite artists. The transaction fees are somewhat higher than most other NFT platforms, but that may be a small price to pay for discovering such rare pieces.

If you're a creator looking to settle down on a platform, SuperRare may be the place to go if you're established in the space and have a large portfolio. But, if you're completely new to NFTs, aren't a digital artist or your portfolio is slim, you might have to give yourself some time before applying to become a creator on SuperRare.