Hello and welcome to the exciting world of collecting NFTs on SuperRare! This is a practical, step-by-step guide on setting up an account as a collector.
If you are new to cryptoart and dealing with cryptowallets, fear not: we'll cover all necessary topics and tools for getting started. This includes overviews on:
SuperRare as a marketplace
Ether, the digital currency used, and NFTs
How to make a collector account (Desktop or Mobile)
How to fund your account
Bidding on Timed Auctions
Let's get started!
1. What is SuperRare?
SuperRare is a platform to issue, collect, and trade rare digital art backed by non-fungible tokens (NFTs) on the Ethereum blockchain.
Every piece of art on SuperRare is a single-edition.
SuperRare is built on Ethereum, a blockchain computing platform that allows anyone to securely verify art creation and ownership. On SuperRare artworks are minted directly by the original artist from their own unique wallet address with every previous bid, sale and collector being forever recorded in the token's history on the blockchain.
2. Ethereum, ether, and NFTs
Our platform is built on Ethereum, a blockchain-based computing platform that allows artwork creation and ownership to be authenticated & verified.
The digital currency, or cryptocurrency, native to Ethereum is called ether, or ETH. All transactions on SuperRare use ETH.
Each user has an Ethereum account, also known as a wallet. Your wallet is where your ETH and your NFTs are stored.
When art is added to SuperRare, it is tokenized, meaning a new, unique token (the NFT) is generated by the artists that collectors can purchase. The token is linked to the artwork, and represents a permanent record of provenance and collectible ownership of the artwork.
NFTs (Non-Fungible Tokens) are a digital collectible – a digital object secured by cryptography and tracked on the blockchain. That’s just a fancy way of saying they’re provably scarce items that can be collected, and that hold value just like cryptocurrencies like ether and bitcoin.
3. How to set up your collector account
Note: Steps for how to set up an account on a mobile device can be found below the desktop steps.
Steps for desktop wallet setup
First, you’ll need MetaMask, an Ethereum wallet and account manager for internet browsers. We recommend using the latest version of Chrome or Firefox. Go to https://metamask.io/ and install the browser extension, and we also recommend watching their intro video.
Next, you’ll see the “Secret Backup Phrase” screen. These 12 words are VERY IMPORTANT to save in a private, secure location OFFLINE. They are the only way to restore your account if you get locked out or lose your password. MetaMask will ask you to confirm it to prove you’ve saved it somewhere.
Once you successfully create an account, your MetaMask should look like this. You can now start the account setup on SuperRare.
Steps for mobile wallet setup
First, you’ll need either the MetaMask Mobile app, or the Opera Browser app. Both can be synced to your desktop, however Opera Browser will automatically create an ETH wallet address for you within the browser, whereas MetaMask has a desktop extension for Chrome or Firefox
Both apps have a built in browser that must be used to create and use your SuperRare account
For MetaMask Mobile:
Ensure you write down your Secret Recovery Phrase someplace private and never share it with anyone. Once your account is created, you can click on the public wallet address to copy it to your clipboard. This address will be needed in order to fund your wallet.
The built-in browser can be accessed by clicking the 3 lines in the top left and selecting Browser
For Opera Browser:
Your public wallet address can be found by clicking the Receive button once you've set your wallet up. This address will be needed in order to fund your wallet.
Once your wallet is setup, your Secret Backup Phrase can be found within the wallet settings, ensure you write down your Secret Backup Phrase someplace private and never share it with anyone.
Steps for SuperRare account setup (desktop + mobile)
On SuperRare.com, click the Sign In button, on desktop this is located on the top right of the page, on mobile this is located in the dropdown menu accessible by tapping the 3 lines on the top left.
This must be done from the same browser you have set up your wallet on (for Desktop: Chrome or Firefox, for Mobile: MetaMask app or Opera)
To complete the account setup process, first select a wallet, choose MetaMask, then select the option to sign up for a new account, and fill in your information.
When you click Sign Up, your wallet will pop up and ask you to sign. Once you click sign, your account will be fully set up. You wallet will pop up and ask you to sign anytime you log into your account.
4. How to fund your account
In order to bid on or purchase art and cover the gas cost of running the blockchain transaction, you'll need to buy some ETH and send it to your wallet address. Buying ETH with your local currency can differ from country to country, but we typically recommend Coinbase as the easiest way to purchase ETH. When considering your budget, remember you’ll need a little extra to cover the gas costs for running the blockchain transactions.
Each site will have a slightly different process, if using Coinbase, information on how to purchase ETH can be found here on their website.
Once you've purchased ETH on an exchange like Coinbase, it's time to send it to your wallet. In order to do this, you'll need to copy your public wallet address.
On desktop, this can be done simply by clicking on the account name within the MetaMask extension.
In the MetaMask Mobile app, this can be done by clicking on the shortened address on your wallet page (begins with 0x)
In the Opera Browser app, this can be done by clicking the receive button and pressing copy.
Once you've copied your public address, navigate to the Send/Receive section on the exchange you purchased your ETH (On Coinbase this is located in the top right, input your address, the amount of ETH you'd like to send to it, and press Continue). Always make sure the address you're sending to matches the address of your wallet.
Once the transaction completes, you'll see the amount in your wallet. You are now funded and ready to start buying CryptoArt!
5. Bidding on Timed Auctions Step by Step:
Press the "Place A Bid" button on the artwork auction page and follow the prompts to enter your bid amount. After pressing "Submit Bid" MetaMask will automatically open and ask you to confirm the bid and pay the gas fee. Once the transaction completes you will see your bid listed as the new high bid in the artwork history.
At the time of the auction start, the work is available for bidding. If the seller has set a starting bid price, your bid must meet or exceed it.
If you get outbid, your funds will be returned immediately and you can place a higher bid.
If a bid is placed within the last 15 minutes of an auction, the auction time is extended to 15 minutes after the time of the bid.
At the end of the auction, it closes automatically. You and the seller are notified that it needs to be settled.
If the seller doesn't do it first, you can settle the auction via your notifications page, and the money and artwork change hands.
For further information on how our bidding and transactions work please reference the help articles below: