A curated NFT marketplace is a restricted-access marketplace for selling items. Only creators who are whitelisted (invited by existing members or approved by the platform’s curators) can contribute items there.
While this helps build a strong community around artists on the platform, it also reduces outreach to the overall market. Compare with marketplace leader OpenSea.
foundation is an invite-only marketplace for NFT creators. Launched in February 2021, Foundation is his one of the largest NFT marketplaces on the web. The platform is famous for hosting notable NFT auctions of him, including Edward Snowden’s first NFT of his and his Nyan Cat animation.
NFT creators must obtain an invitation code to be able to create NFTs on the platform. Invitations can only be sent by members who have already sold at least one of her NFTs on the platform.
Once the artwork is sold on the primary market, the creator will receive 85% of the final sale price. If the NFT is listed and collected again on the secondary market, a 10% royalty will be automatically sent to the original creator of the artwork.
Foundation has four sales options.
- Buy Now: This option is a direct buy and accepts the sale price of the NFT of your choice.
- Offer: This allows the buyer to send the offer directly to the creator.
- Reserve Auction: A minimum price is set and the auction will start 24 hours after this condition is met.
- Private Sales: A direct transaction between two users.
The Foundation collects a 5% market commission on all transactions. So when a collector buys her NFT, the creator receives his 95% of the total sale price. For secondary market sales, 5% goes to the Foundation and 10% royalties to the creator, so the seller receives his 85% of the total sales.
SuperRare is an NFT marketplace for collecting and trading unique single-edition digital artwork. Artists must be on the allowlist to sell collections on the platform.
Primary sale (also known as a mint sale, where the artwork is sold first):
- Artists receive 85% of sales
- SuperRare DAO Community Treasury earns 15% of sales.
Secondary sale (the sale that follows the primary sale):
- Sellers receive 90% of the sale price
- Original author receives 10% of sales as royalty
All sales are subject to a 3% marketplace fee added to the sale price paid by the buyer. This will be sent to the SuperRare DAO Community Treasury.
The SuperRare DAO Community Treasury is responsible for establishing artist and developer grant programs and special expenditures of financial assets as deemed necessary to support the continued growth and success of the SuperRare Network.
Super Rare Token ($RARE)
SuperRare introduces a token ($RARE) to pass curation on the platform to the community ( Super Rare DAO). Part of the supply has been airdropped to former users who, along with the core team, are part of his DAO performing actions on the platform.
$RARE token holders collectively manage the SuperRare DAO. It is a decentralized organization that monitors key platform parameters, allocates funds from the Community Treasury, and implements proposals passed through community governance related to network and protocol improvements.
In addition to curation and partnerships, another SuperRare DAO initiative is a Magazine that shares more information about collections and artists and provides news about the NFT sector.
In this section, we present selected NFT marketplace metrics and compare them to our benchmark, OpenSea.
Curated NFT marketplaces can charge higher fees than open marketplaces because they offer exclusive collections. SuperRare will also provide tokens (curation, fees, finance) that will be used to manage the platform, giving additional incentives to participate in the community.
The option to work only with exclusive collections results in curated NFT marketplace daily trading volumes lower than benchmarks.
This difference in daily volume is explained by the number of users, as OpenSea does not limit the collections traded there.
However, due to the curated selection of the collections, the average selling price in selected markets (Foundation and SuperRare) is higher than the benchmark.
Average selling prices include over $2,000 on SuperRare and $400 on Foundation. $200 at OpenSea.
October 2022, Thiago Freitas
Data Source: Footprint Analysis – Curated NFT Marketplace Overview
A curated NFT marketplace has established itself in a niche where the community drives collection adoption. With its value proposition, close partnership It enhances the uniqueness of the collection. Additionally, SuperRare will provide additional incentives with a token ($RARE) used for governance (financial management and curation on the platform).
Contributors to this work are footprint analysis community.
The Footprint Community is a place to help data and crypto enthusiasts around the world understand and gain insights about Web3, the Metaverse, DeFi, GameFi, or any other area of the emerging blockchain world. Here you’ll find vibrant and diverse voices who support each other and move the community forward.
Footprint website: https://www.footprint.network