This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is SuperRare?

SuperRare is a decentralized digital art marketplace on the Ethereum blockchain. It features curated NFT art, allowing artists to mint and sell unique digital assets. The platform uses the $RARE token, which enables governance and curation participation among community members, ensuring that artists and collectors have a voice in shaping the platform's future.

How is SuperRare used?

SuperRare (RARE) is a governance token that enables community members to participate in the decision-making process for the future of SuperRare, a platform for digital art backed by non-fungible tokens (NFTs) on the Ethereum blockchain. Here's how it is used:

  • Governance: Holders of $RARE can vote on proposals, known as SuperRare Network Improvement Proposals (SIPs), to guide the evolution of the platform. This includes decisions on where value accrues in the network, control of curation and key market parameters, and the tools available to artists, collectors, and curators.
  • Curation: $RARE is used for voting on Spaces, which are environments within the SuperRare ecosystem where artists and collectors can interact and organize exhibitions. This allows community members to have an active role in SuperRare's path towards decentralized curation.
  • Participation: $RARE holders can participate in the broader decision-making process for the future of SuperRare, ensuring that the community has a voice in shaping the platform's direction.

Overall, $RARE is a key tool in SuperRare's transition to a decentralized autonomous organization (DAO), where power is distributed amongst the community to ensure a more democratic and community-driven platform.

How do I store SuperRare?

To store SuperRare ($RARE) tokens, you need to add the custom token address to your MetaMask wallet. Here are the steps:

  1. Open MetaMask: Ensure you have MetaMask installed and set up on your browser.
  2. Access the Assets Tab: Click on the MetaMask icon in your browser and select the "Assets" tab.
  3. Add Custom Token: Click on "Add Token" and then select "Custom Token."
  4. Enter Token Details: In the "Token Address" field, paste the official $RARE contract address: 0xba5BDe662c17e2aDFF1075610382B9B691296350.
  5. Token Symbol and Decimal: The token symbol and decimal fields should automatically fill.
  6. Complete the Process: Click the "Next" button to complete the process. MetaMask will now display $RARE tokens in your list of assets.

By following these steps, you can successfully store your $RARE tokens in your MetaMask wallet.

How to buy SuperRare?

To buy SuperRare (RARE) tokens, you can follow these steps:

Buying from Decentralized Exchanges (DEX)
  1. Choose a DEX: Select a decentralized exchange (DEX) that supports SuperRare (RARE) trading.
  2. Set up a wallet: Download and install a Web3 crypto wallet (e.g., MetaMask) or an App wallet (e.g., Trust Wallet) supported by the DEX. Create and set up a new wallet.
  3. Transfer cryptocurrency: Transfer the mainnet cryptocurrency (e.g., ETH, BNB) to your wallet address. This can be done by purchasing with fiat and transferring from a centralized exchange (CEX) or using an existing balance.
  4. Connect wallet to DEX: Connect your wallet to the DEX by clicking "Connect Wallet" and following the instructions.
  5. Find and swap: Find the "Swap" option on the DEX, select the token you want to trade from (e.g., ETH), and SuperRare (RARE) as the "To" currency. Enter the amount and confirm the swap.
Buying from Centralized Exchanges (CEX)
  1. Choose a CEX: Select a centralized exchange (CEX) that supports SuperRare (RARE) trading, such as Binance or Coinbase.
  2. Create an account: Register an account on the CEX's website or app, and verify your identity.
  3. Fund your account: Use fiat to buy a stablecoin (e.g., USDT) or a cryptocurrency (e.g., ETH) on the CEX.
  4. Transfer to RARE: Transfer the purchased stablecoin or cryptocurrency to the CEX that supports SuperRare (RARE) trading.
  5. Buy RARE: Use the transferred funds to buy SuperRare (RARE) in the spot market.

Important Notes:

  • Always triple-check the contract address to ensure you are interacting with the official SuperRare (RARE) token.
  • Be cautious of malicious actors and scams.
  • Consult local authorities for tax information and ensure compliance with regulations.
  • SuperRare (RARE) is a governance and curation token, not an investment product.
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