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Binance to list unique NFT marketplace token RARE starting today

Binance to list unique NFT marketplace token RARE starting today

Binance has listed SuperRare, an NFT marketplace to collect and trade unique, single-edition digital artworks with the token RARE. The pairs RARE/BTC (BTC/USD), RARE/BNB (BNB/USD), RARE/BUSD, and RARE/USDT are available for trading.

Trading started at 06:00 (UTC) today, the biggest crypto exchange in the world reported on its website. Users could start depositing RARE in preparation for trading at that time.

About SuperRare

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Artists in the SuperRare network create each work authentically and tokenize it as a crypto collectible digital item that can be owned and traded. The platform’s governance token is RARE.

Token holders can allocate funds from the community treasury, govern key platform parameters, and vote on proposed improvements to the protocol and network. Binance does not charge a fee to list RARE.  

According to SuperRare’s website:

You can think of SuperRare like Instagram meets Christies. A new way to interact with art, culture, and collecting on the internet.

Each artwork on SuperRare is a blockchain-tracked digital object secured by cryptography. According to the platform, these are provably scarce items that you can collect and that hold value just like Bitcoin, Ethereum (ETH/USD), and other cryptocurrencies.

SuperRare is like a social network for digital art. Digital collectibles are ideal for a social environment because of their transparent record of ownership. To begin collecting them, you can sign up at the website and link your account with SuperRare to an Ethereum wallet. After your account is ready to go, you can look at the activity feed or follow your favorite artists to begin collecting.

Buying artworks on SuperRare

SuperRare is powered by Ethereum and all transactions are in ether, the native cryptocurrency to that network. SuperRare suggest buying ether on Coinbase as the easiest and fastest option. If you’ve never used crypto, you can buy ether on Coinbase using a bank account.

For now, SuperRare is in its early stages and provides access to a small number of select artists. The buyer pays a 3% transaction fee for all purchases. The commission charged on primary sales is 15%, and the creator receives 85%. They get a 10% commission for secondary sales.

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