SuperRare employs crypto-collectibles to allow participants to create, trade, or own digital artworks. Artists and creatives can develop single edition arts, while art lovers can enjoy, interact and collect unique culture through the SuperRare marketplace.
NFTs and crypto arts are still in their nascent stages, but we have good reasons why SuperRare is a good investment. The platform has positioned itself with an excellent business model that’s ideal for both artists, art lovers, and traders.
With the rise of NFTs, many art-related tokens emerged; however, not all are valuable. This article will try to provide basic information on the SuperRare project and answer if RARE cryptocurrency is a good investment.
What is SuperRare and Why is it Important?
The SuperRare marketplace empowers artists to create and deploy digital art collectibles. In other words, it is an NFT platform that started by handpicking artists and approving them to mint Non-fungible tokens on a shared smart contract. For this reason, the SuperRare native token (RARE) is a valuable investment as it is part of emergent innovations around the Metaverse and Decentralized Finance.
Thanks to the SuperRare platform, digital curators can promote and sell their products directly to collectors. The platform enables the independent functionality of NFT storefronts and combines sovereign contract minting with web-scale curation. Thereby streamlining the process of building single-version digital arts, which can be adapted across the metaverse.
The first version of the concept emerged once the founders handpicked artists to mint the products on SuperRare. Meanwhile, the team would roll out version 2.0 of the platform after they addressed the following key challenges:
The team discovered gatekeeping and curating from a single group was not conducive to growth in the ecosystem. Therefore, they introduced web-scale curation to promote a scaled art platform. Augmenting the platform with independently run storefronts would prevent the NFT platform from remaining fragmented. This enabled artists to manage their collections easily.
What Makes SuperRare (RARE) a Good Investment?
When it comes to pricing, SuperRare has good chances of reaching new heights in 2022. However, it is not right to sum up, the price of such a formidable investment in a speculative manner. Remember, SuperRare is a good investment because of its use case and the ability to unlock profit in the art industry. Hence, SuperRare’s native token ( the RARE) is a digital asset that artists and art collectors can use to empower culture, art, and collection through NFT minting and contract tokenization.
Participants can utilize the protocol to optimize their creative process and benefit from low fees, run auctions and collect commissions. The launch of the SuperRare Spaces marked an era where digital curators could now launch their own branded ERC-271 tokens, invite artists for collaboration and empower creatives to become their independent minting platform.
Sovereign functionality, custom NFT building, and utility by art collectors and traders remain the biggest reasons SuperRare is a good investment. Again, the platform is community-driven. This means power is deployed to the users through the DAO governance. Any token holder in the community receives an incentive depending on their stake in the network. As a result, the demand for the RARE token keeps growing. Since the supply of the RARE tokens is limited to 1 billion, the price is always set to rise in the future.
The majority of blockchain pundits agree that SuperRare is a good investment and anticipate it to hit a whopping $43 by 2030. With the platform’s flexibility and adaptability, the RARE token has various applications from crypto gaming, the metaverse, DeFi, and art.
Besides, the team behind the founding of SuperRare comprises credible individuals, including its CEO, who worked as a lead coder at ConsenSys. The rest of the co-founders include Jonathan Perkin and Charles Crain.
SuperRare Price Predictions
Presently, you can buy the RARE token at $0.9249. Going by the token applications and the potential use cases, we can easily deduce that the token is undervalued. As more people adopt the token and participate in the marketplace, the more chances RARE gains an outstanding higher price. A survey across several price forecasts has shown most analysts expect the price of RARE to reach $1.6 by the end of 2022.
In a YouTube video published on 11th October 2021, James Preston addresses whether the RARE token will cross the $5 mark by the end of 2022. Preston ranks the coin among the month’s top gainers, including Bitcoin. The announcement by Binance about an imminent listing of the SuperRare token saw the coin rally towards the $3 mark. According to the analysts from the channel, the coin will hit $5 by the end of 2022 and is destined to touch $10 within the next 5 years.
One analyst was strongly bullish about the foreseeable market structure for the RARE token. Ryan Matta, a cryptocurrency analyst who runs a Youtube channel with the same name; mentioned that the price of SuperRare would hit $7.5 by the end of 2022.
This is a possible target, given that a market cap of $1.3 billion will allow the coin to hit the $7.5 price mark.
Well, What’s the Highest Price SuperRare can Hit in 2022?
Wallet Investor, a prominent price prediction website for cryptocurrencies, has a bearish outlook for SuperRare in 2022. The analysts at the website believe the coin will hit a maximum price of $0.9499 by December.
According to Pricepredictions.net, the average trading price for Rarable will be $1.61. The analysts on this platform believe the coin will only cross the $5 mark until 2026. By 2030, the cash will have crossed the $20 mark and trading at $24.50 per piece.
Is SuperRare an ERC-20 or ERC-721 Token?
The SuperRare marketplace token utilizes the ERC-721 standard. Hence, RARE is not an ERC-20 token. The ERC-721 is an Ethereum standard for implementing unique digital assets created, owned, or traded. Also, note that the SuperRare platform is built on top of the Ethereum blockchain. The blockchain ensures artists can mint and transact already validated NFTs.
Will SuperRare Reach $10?
SuperRare sets itself apart from most NFT projects because it employs a proven business model. A buyer on the platform pays a 3% fee on all purchases taking place on the network. Ideally, the platform is a fantastic way for artists to utilize Ethereum smart contracts as a means of siphoning a percentage share of secondary-market revenue.
How and Where to Buy SuperRare?
If at all we answered is SuperRare is a good investment, I bet it’s time to make your own decision whether or not to buy the cryptocurrency. You are wondering where to get started. SuperRare was listed on Binance Exchange last year. Hence the exchange is a suitable platform to get started from.
On August 17, 2021, the token was first traded on UniSwapV3, Gate.Io, and LBank. During press time, the cryptocurrency is trading slightly under $1 and has a Coin Market Cap ranking of #448. Unlike other cryptos, you cannot purchase SuperRare directly using fiat. You need to buy either Ethereum, Bitcoin, or any other cryptocurrency and then swap it for RARE on the exchanges as mentioned above.
So, is SuperRare a Good Investment? Should I buy it Now?
Considering a credible team, a working business model, an excellent roadmap, and a fundamental use-case, SuperRare is a good investment. The coin is still undervalued, granted that the NFT universe is still in its infancy stages. There is a high likelihood that the price will continue rising in the future. Therefore making this moment the next best time to invest in RARE.
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