SuperRare 💎
Published in

SuperRare 💎

Collector Royalties Eligibility Expansion — Aug ‘21

TL;DR — we’re expanding the Collector Royalties program to cover all SUPR tokens, regardless of when they were minted. Qualifying transactions will be back-dated to the program launch date (07/13/21) and applied equally to all future sales.

About a month ago at SuperRare we announced a first-of-its-kind program to pay continuing Collector Royalties in an effort to catalyze new collectors joining the NFT revolution & help those collectors feel better letting go whenever the right time comes. The reaction among the community so far has been nothing short of inspiring. Not only was the program received by overwhelmingly positive reviews, we’ve seen artists like Pindar Van Arman channel this energy into bespoke royalty programs that are raising the bar further still — sparking greater creativity and exploration of what’s possible in this new world of programatic, composable art. While it’s still early days for the program, we’ve been thrilled by the responses and possibilities for the future.

After observing the community reaction and reflecting on the nuances of the program implementation, we’ve decided it doesn’t feel right for us to split SUPR tokens and their owners into different classes — some with collector royalties and some without, based solely on the date of our announcement. If you’re a long-term collector on SuperRare, we think you deserve equal recognition for your efforts to help make this creative revolution possible. If you’re an artist who produced any of the important early pieces of NFT history on our platform, we think your pieces should be treated with the same respect and veneration as any work being sold for the first time today.

As a result, we’re extremely happy to announce the expanded eligibility for collector royalties to cover all SuperRare artworks (aka SUPR tokens) — regardless of the date they were first minted/sold. This makes every piece of art collected on SuperRare equally historic and valuable — whether you’re an artist or a collector, whether you’re an “OG” or just joining us on this journey. Of course the side-effect of making all SUPR tokens eligible for the CR program means there are now a lot more qualifying artworks on which collector royalties can be generated. In theory this also means a lot more royalties will be paid out to SuperRare artists and collectors, which means a lot more careers for digital creators and their patrons will be changed for the better. When artists and collectors win, we all win.

Mission accomplished. See you in the metaverse!

Fine print:

  • All SUPR tokens ever sold on SuperRare will now qualify for collector royalties, regardless of when they were first minted/sold.
  • Qualifying transactions will begin as of program initiation on 07.13.21
  • Royalty payments on pre-07.13.21 works will begin “where the ball lies” (e.g. no retroactive payments, but we’ll pick up each royalty stream wherever it is today)

For more information on SuperRare Royalties visit our Royalties FAQ

Legal Disclaimer

The Collector Royalty program is an experimental and discretionary incentive program developed and administered by SuperRare Labs (the Company behind SuperRare) as a gift to SuperRare users. User’s ability to participate in the program may depend on or be limited by their individual location, qualified royalty amounts, or other factors determined by SuperRare Labs for purpose of regulatory or legal compliance. SuperRare Labs may modify the terms, procedures, and any details of the program, or cease it altogether, in its sole and absolute discretion. This announcement or subsequent actions regarding this program does not now or ever create an express or implied contractual entitlement or right to, or interest in, SuperRare network fees, commissions, or NFTs minted or sold on the SuperRare Marketplace.



Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
SuperRare Labs Team

SuperRare Labs Team

The future of the CryptoArt market — a network governed by artists, collectors and curators 💎