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Why Should You Develop an NFT Art Marketplace Like SuperRare?

SuperRare is an art-dedicated NFT marketplace. The platform is widely used by traders, investors, and NFT enthusiasts. NFT is becoming more and...

Written by Niel Patel · 5 min read >
suerrare clone

SuperRare is an art-dedicated NFT marketplace. The platform is widely used by traders, investors, and NFT enthusiasts.

NFT is becoming more and more popular as the market tends towards the futuristic model of the internet- Web 3.0.

Decentralization is the underlying concept behind the NFT marketplaces as it allows independent transactions, storage, and sharing of data.

NFT marketplaces like SuperRare have become the reason why digital artists are tokenizing their work into NFTs and earning significant amounts of profit.

SuperRare is gaining immense recognition for its high earnings despite a relatively smaller userbase.

This blog post shall unveil the answer to why you should emulate SuperRare for building your NFT marketplace.

  1. Popular and Revenue-Generating

SuperRare was set up in 2018 by John Crain, Charles Crain, and Johnathan Perkins, respectively acting as the CEO, CTO, and CPO. The trio has also managed Pixura.io, a platform for building, monitoring, and trading crypto collectibles.

Ever since its inception, SuperRare has been in the center of the market as it helped many earn commendable numbers in terms of revenues. 

  1. Social-Like Experience

SuperRare is an NFT marketplace popularly identified for its social-like NFT trading interface. The platform comprises the functionalities of both a social media and NFT marketplace platform.

There is no better way to optimize the social media experience than emulating SuperRare to engage a large audience of NFT enthusiasts, investors, traders, etc.

On SuperRare, art lovers can connect and collect collectibles through social collecting. Social collecting has gained recognition through SuperRare, and every new NFT marketplace is trying to adopt it in one way or another.

  1. Effective Smart Contracts Implementation

SuperRare utilizes Smart Contracts for effective management of data, execution of conditions, and operation management. It is why SuperRare has become a notable and credible choice among artists.

Emulating SuperRare can help you build your credible userbase by making the best use of Smart Contracts. You can hire a team of NFT marketplace developers to help you write Smart Contracts dedicatedly for your SuperRare-like NFT marketplace.

  1. Uses Ethereum to Power Its Process

SuperRare is an Ethereum-based, peer-to-peer NFT marketplace supporting Ether as a base token. The platform uses Ethereum for tokenizing the artwork and creating rare art collectibles. The NFTs built on Ethereum Blockchain consist of information related to transaction history, original creators, and current status.

SuperRare is among the most product, popular and high-earning Ethereum DApps in the market.

The NFT marketplace development company you hire can implement the chains to the interfaces of your product and turn it into an accessible NFT trading infrastructure.

  1. Niche-Based

Since SuperRare focuses on digital art, it has less competition and showcases credibility. It can be a better practice to develop a niche-based NFT marketplace like SuperRare. You can choose your niche and strategize the platform’s deployment in the market.

Moreover, portraying the platform as an art-dedicated social network can also be a crucial aid in your market recognition.

  1. Easy Buy-Sell Interface

SuperRare has an interactive user interface for listing and viewing artwork, buying and selling tokens, connecting and communicating with leading artists on the platform. You can view open sales and auctions that will soon end. The marketplace interface will also feature an activity feed that comprises information on collectors, artists, and overall sales.

SuperRare features a simple interface for traders to continue or end the sale.

A sophisticated interface allows NFT enthusiasts to explore the collections flexibly and monitor popular artists’ listed work and individual achievements.

  1. Transparent Remittance of Royalties

Every transaction executes as per the Smart Contract written by NFT marketplace developers. The first sale of a unique artwork tokenized into NFT will provide the creator 85% of the selling price, and 15% of the total amount goes into commission.

Even when an NFT is resold, the creators get their dues every time a transaction occurs. For every resold NFT, the artists get a 10% royalty fee from the secondary sell price credited to their account with a guaranteed execution through Smart Contract.

It is a one-time investment for every aspiring artist on SuperRare as their transaction model creates accelerated revenues for the artworks.

  1. Superior Tracking and Authentication

Since everything here in the NFT marketplaces is stored on Blockchain, we can track every transaction. Cryptography allows proper authentication and user identification. Every entity is secured and verified in the decentralized architecture, from user account information to tradable assets.

User authentication is a critical subject that every platform with a financial aspect would not miss out on. Considering high standard protocols for authenticating user identities and transactions can be a way to sustain in the fast-paced NFT market.

SuperRare has been acclaimed widely for its high-class security and authentication. Moreover, it provides users with all analytical insights that can help them identify the loopholes in the system.

  1. Incubated Art Network

Anyone can purchase and hold tokens on SuperRare. However, the platform only allows those who are invited to create artwork. Those who want to tokenize their artwork on the NFT marketplace can apply by filling out all necessary details that quantify their work’s originality.

The artwork created should be the creator’s work and not published anywhere else over the internet.

The platform provides a Google form that consists of the basic guidelines and a series of questions to complete the application for submitting artwork on SuperRare.

Some of the primary guidelines for applications are the followings.

  • Submitted work must be original and created by the applicant.
  • The artwork should be submitted in digital form.
  • The submissions should be unique and not published anywhere.

Despite its immense popularity, the platform has a saturated community of artists.

You consider different guidelines for your NFT marketplace as per your requirements.

  1. Community

Community plays a crucial role in the establishment of a platform. SuperRare is organized and managed by a community of artists, NFT enthusiasts, and business administrators. 

SuperRare Spaces have emerged as one of the key components of the NFT community. Spaces are the virtual galleries attended by art curators, collectors, and other community members who oversee artwork published on the platform. These personalized groups are managed by designated members who can help onboard more participants to the spaces.

The SuperRare governance council, which consists of nominated community members, takes decisive calls on treasury and SuperRare Spaces. It is the most important governing body in the structure of the premier NFT marketplace.

If you are taking your inspiration from SuperRare, you can consider their community-driven approach while designing and developing your NFT marketplace.

The Cost to Create a SuperRare-Like NFT Marketplace

From functionality to platform compatibility, several important factors need to be considered while estimating the cost of creating an NFT marketplace like SuperRare. 

Since SuperRare is an established NFT marketplace with a significantly large userbase and successful business model, it becomes challenging to emulate its positives and comprehend its limitations.

It is always easy to take inspiration from a prebuilt platform rather than brainstorming and implementing new ideas from scratch. The development process becomes simpler and easy to adapt.

You might be charged both on a milestone basis or hourly basis. However, the personalization needs of the product shall always play a crucial role in driving a large part of the cost.

Some of the primary cost-driving factors in developing NFT marketplace like SuperRare are the followings.

  • Product Discovery
  • UI/UX Design
  • Technology Stack
  • Personalization and customization
  • Testing
  • Security and maintenance

Let us now understand how much different project segments can cost to create a fully-fledged Superrare Like NFT marketplace.

  1. UX/UI Development: $2200 – $5000
  2. Authorization and Security: $3000 – $8000
  3. User Profiles: $2300 – $5000
  4. Home Page: $3500– $10,000
  5. Search and Filters: $4000 – $11,500
  6. Product Page: $2000 – $5000
  7. Reviews & Ratings: $2500 – $5500
  8. Shopping Cart: $2500 – $5500
  9. Payments: $2000 – $5000
  10. Notifications: $2000 – $4000
  11. Ethereum Incorporation: $4000 – $11,500
  12. NFT management: $4000 – $11,500
  13. Inventory Management: $2000 – $5000
  14. Buyer Panel: $3000 – $7000
  15. Author Panel: $5000 – $14000
  16. Admin Panel: $3000 – $10,000

Total: $47,000– $123,500

The abovementioned costs are tentative. These cost ranges are derived from standard project discussions with NFT marketplace development experts who have been validating, designing, developing, and managing such platforms for quite a time.

Conclusion

SuperRare is not an entirely open NFT marketplace, but it offers a rich user experience with robust interfaces, user-oriented functionalities, security, and more.

This NFT marketplace has become a platform for listing, buying, and selling high-quality art collectibles. A lightweight interface and extensive exposure to the aspiring NFT audience have made SuperRare among the best NFT marketplaces. An open curation of ideas can help business owners to create capable NFT marketplace solutions that take the market to new heights of technological evolution.

As the demands for decentralized solutions like NFT marketplaces increase, it is high time that business enthusiasts leverage the evolution. The more options you provide to the end-users, the better trading of art collectibles they experience.

If you are looking to explore more about the basics, you can refer to this comprehensive guide on NFT marketplace development.

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