SuperRare
Crypto Overview
Project Overview
SuperRare is a digital art marketplace launched in 2018, utilizing blockchain technology to create unique, tradeable digital artworks as NFTs (Non-Fungible Tokens). The RARE token, introduced in August 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 upgrades, fee structures, and curation decisions, 2) Revenue sharing from platform fees, where token holders can earn a portion of marketplace transaction fees, 3) Curation capabilities, enabling holders to participate in selecting artists and artworks for featured spaces.
Actual Utility Assessment
The token demonstrates active usage in governance with regular community proposals and voting activity. The SuperRare platform maintains significant trading volume in the NFT art market, with verified artists and collectors actively participating. The ecosystem shows continuous development with regular platform updates and feature releases.
Token Distribution and Governance
Initial token distribution allocated 40% to the community treasury, 15% to the team (4-year vesting), 14% to investors (3-year vesting), and 31% for community rewards and development. Vesting schedules and lock-up periods demonstrate commitment to long-term growth. The project maintains transparency in governance decisions and treasury management through the DAO structure.
Revenue Model
The platform generates revenue through marketplace fees on NFT sales, with a portion distributed to RARE token holders who participate in governance. This model aligns with Islamic finance principles as it represents genuine value exchange and profit-sharing rather than interest-based returns.
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.