What is $RARE?

$RARE is SuperRare’s new curation token. With an initial distribution to those who brought SuperRare to where it is today, $RARE will be a key tool in shaping both SuperRare’s future and the digital art community at large.

As SuperRare moves to put more power directly into the hands of artists and community members, we will progressively transition into operating as a DAO (a decentralized autonomous organization).

DAOs are a formal way of distributing power amongst a community by granting decision-making influence and access to a shared treasury. To access this governance, a brand new token is minted for those who wish to partake – you can think of the token as both a share and a membership. This is where $RARE comes in.

With the initial distribution of $RARE and the upcoming, gradual addition of pathways for more community members to earn it, SuperRare 2.0 takes form. This next chapter of SuperRare promises to shift ownership and governance of the network into the hands of the community who care about it the most. This is the next chapter of the digital art revolution.

What can I do with $RARE? What is it for?

Using $RARE, community members will have power akin to being a stakeholder in defining SuperRare’s future.

In order to grow SuperRare into the healthiest decentralized ecosystem possible, three fundamental areas of the platform must be rethought: where value accrues in the network, control of curation and key market parameters, and the tools available to artists, collectors, and curators. Holders of the $RARE token will have the opportunity to guide the evolution of these necessary developments in a transparent, democratized manner.

While new methods of participation will progressively be rolled out this year, $RARE tokens will most immediately be useful towards SuperRare Network Improvement Proposals (SIPs), a means for the community to propose upgrades and distributions to the SuperRare ecosystem. It will most immediately be important in the upcoming proposals for Spaces, giving $RARE holders a voice in decentralized curation.

For a full overview of $RARE and the SuperRare DAO, please read the official SuperRare Network docs.

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