SuperRare 💎
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SuperRare 💎

SuperRare Weekly Update: August 30th, 2019

Latest updates from the SuperRare team & community

In the next few days, we’ll be rolling out an upgraded, more modular smart contract infrastructure. Some functionality in the app will be down during the migration to the new system– we’ll make announcements in Telegram to keep everyone in the loop.

While this is mostly a back-end update, there are a few user-facing changes as well. We’re separating the token minting contract from the marketplace contract, so there will be a one-time extra step when accepting a bid or setting the price on a new token– you’ll have to ‘approve’ the marketplace contract, which will just be a popup button that you click on. Once you do this, you won’t have to do it again.

This release also updates our marketplace fee structure. For new tokens minted after the upgrade, the structure will be: 3% transaction fee on all sales, paid by the buyer; 15% gallery commission on primary sales; 3% royalty paid to artists on all secondary sales. We always keep this info easily accessible in the FAQ page as well. Special thanks to our artist and collector community for all the feedback during our beta phase– we think this structure strikes a good balance and adds the most value to both sides of the market, while making SuperRare development and growth sustainable going forward.

We’ve been excited to watch the collector activity the last few weeks really start to pick up. SuperRare is currently listed in the #6 spot on the Dapp rankings, and the #11 spot on the Opensea Dapp rankings. Congrats to the best community in CryptoArt for making both lists! Dapp Rankings Dapp Rankings

Each week one lucky collector wins a FREE selection from the SuperRare Collection. Last week’s contest was a lottery where collectors earned one entry for every 0.25ETH spent over the week. SR collector javo won the weekly collector lottery spin after earning four lottery entries.

Out of the 27 available artworks at the time, javo selected “Andreas Antonopoulos — Decentral Eyes — Variant 03” by SR artist Coldie.

The contest for this current week ends this Sunday at 4pm EST so stay tuned for the winner announcement and their selection. So far four artists have had their work selected by collectors from the SuperRare Collection.

Big congrats to SR artist Prometheus for having the biggest sale of the week! This digital masterpiece titled “Replacing Gods” sold to collector seanli for 2.5 ETH (around $427 at the time of the sale). This also marks the fourth single edition SuperRare by Prometheus acquired by seanli.

Collector MrRevix makes our weekly update once again with the #ArtFlip of the week. After purchasing “Hodl n’ pray” by Prometheus for around $84 about a month ago, MrRevix sold it this week to collector seanli for around $203.42 — a beautiful +140% #ArtFlip!

It’s also safe to say that Prometheus is fast becoming one of CryptoArt’s hottest new artists.

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SuperRare Labs Team

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