SuperRare Costs and Capabilities
Trading on SuperRare's nft marketplace is priced beyond the initial sale. In addition to the 15% gallery fees applied to primary sales, users face additional expenses.
Transaction fees sit at a relatively high 3%, and users also face cryptogas fees for ethereum transactions. These fluctuating gas fees, paid to ethereum miners, depend on network demand. Users may choose to wait for demand to decline to alleviate high gas rates.
Despite the convenience of the platform, these costs pose challenges for artists and merchants navigating the nft space. However, SuperRare positions itself as a high-end art platform, distinct from other nft marketplaces with some features not found elsewhere:
- Exclusive invitations from artists.: nft artists undergo quality and authenticity vetting before joining the platform
- Single Edition nft: Each piece of digital art on SuperRare is unique, enhancing its value and rarity.
- Wallet Compatibility– SuperRare integrates seamlessly with popular wallets like MetaMask, Fortmatic and Wallet Connect, making transactions easy
- Community-run galleries (Spaces): SuperRare galleries (Spaces) are community operated and curated through collective decision making.
- $token RARE: Operate your own currency, $RARE, which gives owners voting rights similar to those of shareholders and allows participation in community decisions regarding spaces.
- Minting requirements: Only nfts minted on SuperRare are tradable on their marketplace; none of the many others.
While there is no denying that the marketplace offers a distinctive platform designed for the most discerning art connoisseur, the associated expenses are prohibitive for some artists, especially newcomers, to the nft market.
If SuperRare were to reduce its fees as suggested, it could improve accessibility for artists and merchants, fostering a more inclusive environment within the nft art world.
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