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Highlights
- SuperRare (RARE) is a non-fungible token (NFT) marketplace that collects and trades digital collectibles.
- Operating on an Ethereum blockchain network, with SuperRare, one can track the history and origin of an art piece distributed on a ledger to which no one controls or has access.
- According to CoinMarketCap, RARE had registered gains by 106% in the last 24-hours and traded at the US $2.91 with a 24-hour trading volume of US $442,644,544.
SuperRare (RARE), unlike its acronym, is not so rare at present after its strong rally on Monday. Following its Binance listing on 11 October, SuperRare is making many investors sit up and track its intraday rally. Today, it has registered a massive gain of 106% in the last 24-hours and was trading at the US $2.91 with a 24-hour trading volume of US $442,644,544. It can be now safely pitched as “one of the top gainers today along with Bitcoin, GravitX, Spice”.
SuperRare (RARE) is a non-fungible token (NFT) marketplace that collects and trades digital collectibles. Operating on an Ethereum blockchain network, SuperRare can track the history and origin of an art piece, which is distributed on a ledger that no one controls or has access to.
Also read: Uptober, Rektember: Why is it creating a buzz in crypto market?
Binance listing
Binance is the world’s largest cryptocurrency exchange in terms of the daily trading volume. It announced that it would be listing SuperRare and will begin trading on its platform through a blog post on October 11. The exchange would open the trading for SuperRare for RARE/BTC, RARE/BNB, RARE/BUSD, and RARE/USDT trading pairs.
As it is designed by an artist and tokenised as a crypto-collectible digital artwork that users can own and trade, the coin is drawing investors’ interest into the art collectibles. The investors see it as a good perspective coin that showcases strong growth opportunities.
Will SuperRare cross US $5 mark before 2022?
Due to its immense craze, it touched US $5 at one point before retracing back to US $2.91. Currently, RARE has a live market cap of US $295,959,084 with a circulating supply of 101,756,228 RARE coins.
Also read: Is NFT & Fashion, a match made in heaven?
What is so unique about it?
SuperRare is often dubbed as a “social collecting” platform by digital art lovers. SuperRare was founded by John Crain, Charles Crain, and Johnathan Perkins in 2017, with an aim to create a platform for the artists and collectors so that they can easily interact with people with the same passion. The platform allows the users to view top collectors and artists and their creations.
The SuperRare allows the original creators to collect royalties every time an NFT is resold with its tracking system. SuperRare’s smart contract code ensures that the royalties can be collected even after the creations have been sold or moved.
So far, the SuperRare platform has collected digital arts worth more than the US $90 million, and the US $3 million artist royalties have been paid to date.
Conclusion
Following the NFT boom, SuperRare coin provides a unique platform for artists and collectors to be a part of the ecosystem and earn impressive rewards in the process. Investor predicts that the price will go up beyond US $5 mark by 2022, and within five years, it could hit US $10 mark.
