SuperRare
Crypto Overview
Overview
SuperRare is a digital art marketplace launched in 2018, focusing on unique, single-edition digital artworks traded as NFTs on the Ethereum blockchain. The RARE token, introduced in 2021, serves as the platform's governance token, allowing holders to participate in the SuperRare DAO (Decentralized Autonomous Organization).
Intended Utility
The RARE token's primary purposes are: 1) Governance rights in the SuperRare DAO, allowing holders to vote on platform decisions, curation, and treasury management. 2) Staking capabilities for curating artwork and earning platform fees. 3) Economic alignment between the platform's success and token holders.
Actual Utility
The token is actively used for its intended purposes, with verifiable on-chain data showing regular governance participation and staking activities. The SuperRare DAO actively manages the platform's development, with token holders participating in crucial decisions about platform features, artist onboarding, and revenue distribution.
Token Distribution and Founder Analysis
The initial token distribution allocated 40% to the community, 30% to the team and advisors (with 4-year vesting), and 30% to the SuperRare DAO treasury. The vesting schedule and treasury management show responsible token economics designed for long-term sustainability rather than short-term profit.
Technology and Revenue Model
The platform generates revenue through marketplace fees from NFT sales, which are distributed to various stakeholders including token stakers. This model does not involve interest-bearing mechanisms or riba. The platform facilitates legitimate art trading and doesn't engage in prohibited activities.
Crypto Impact
To assign a comfort level investing in SuperRare from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to SuperRare.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.