What is SuperRare(RARE)? How To Buy RARE Token In India?

What is SuperRare (RARE)?

The NFT space has thrived in recent times, recording massive gains and sales. SuperRare is one such NFT marketplace that emphasises specifically digital artworks produced by prominent artists and content creators. The platform largely focuses on quality rather than quantity which has held the network higher compared to the other marketplace. It is an exclusive crypto art market to buy or sell NFTs. 

The platform is mainly focused on art-oriented NFTs and hence does not lists NFTS related to digital gaming assets, domains or music. Here, the artists create a piece of art and also tokenise it which helps it to be unique as the artwork itself. The NFT on SuperRare can be bought, sold or even held for a long time. Moreover, the artists can also put their creations on auction or even sell them at a price. 

Initially, the SuperRare platform was launched as a high-end art gallery wherein only NFT collections were listed from prominent artists vetted by its core team. Further, in 2021, the platform launched its native token RARE which is used to facilitate platform governance through a decentralized autonomous organization (DAO). 

Who Are the Founders of SuperRare?

The SuperRare platform was founded by John Crain, Charles Crain and Johnathan Perkins who are the present CEO, CTO, and CPO of the network. Previously, they together also co-founded Pixura which is a company focused to build crypto-collectable technology that runs SuperRare. However, the platform is led by a governance council which controls the Community treasury through a 4 of 6 multisig wallet. The general signers for the Governance other than founders are, 

• Nick Tomaino, Founding Partner @ 1Confirmation
• Derek Schloss, Partner at CallabCurrency
• Serena Tabacchi, Founder Founder and Curator
• Simon Pop, Community strategy
• Pindar Van Arman, OG Artist.

How Does SuperRare Work?

SuperRare platform is built on Ethereum Blockchain wherein the NFTs can be minted, transacted and verified. As the platform is non-custodial, the seller’s NFT is locked in a smart contract at the time of listing and is released only when it is sold. Besides, the buyer’s funds also remain secure through a smart contract which is used to bid on an NFT and is only transferred when the bid is successful. 

Similar to other NFT platforms, SuperRare operates on a timed auction model where actions are set up with a specific reserve price that bids need to meet. The platform also offers a secondary market for NFT art by allowing the users to make an offer for the NFT which has not been listed on the platform for auction but is visible. 

Read More: How to buy Ethereum(ETH) in India?

What Makes SuperRare Unique-Use Cases?

• SuperRare solved the issue of centralization by introducing SuperRare spaces, that run independently on the platform 
• The creators receive 10% loyalty for every P2P sale of their creation and have also implemented a collector’s commission that pays 1% to the first collector when they sell an NFT.
• The Collectors commission reduces by 40% with each resale or until it gets fully exhausted.
• The commissions are drawn from the network fees which are paid by the sellers as well as the buyers

SuperRare (RARE) Price Analysis

Source: TradingView

• The RARE price is stuck up within a multiyear descending trend within a falling wedge, largely considered as bullish
• Although the pattern formed is bullish, the price may undergo a notable plunge which may drag the price towards the lower support close to $0.06
• The ADX is plunging without displaying any possibility of a bullish divergence which may substantiate the bearish claim
• However, a rebound may be ignited at these levels which may lift the price beyond the major resistance levels and achieve the levels around $0.18

How to Buy SuperRare in India?

To buy Linear Finance in India, just follow the below-mentioned steps:

• Download the CoinDCX App on your Smartphone
• Enter the details required for registration
• Complete KYC
• After your profile is verified, fund your wallet and buy a RARE.