SuperRare NFT Marketplace Launches RarePass for Exclusive Curated Art Drops

The artist-first marketplace will airdrop exclusive art to 250 holders of the subscription-like passes over the course of a year.

AccessTimeIconNov 3, 2022 at 1:00 p.m. UTC
Updated Nov 3, 2022 at 5:51 p.m. UTC
Layer 2
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

SuperRare, an Ethereum-based, decentralized digital art marketplace, is looking to shake up the way art is collected through the launch of its “Genesis” RarePass.

Holders of the RarePass, which SuperRare Labs Chief Operating Officer Kyle Olney compares to a subscription-like service, will receive curated crypto art by some of the most prominent artists on the platform, all within a single transaction.

“The goal is for this [RarePass] to be a trusted, curated pass offering,” Zack Yanger, senior vice president of art advisory at SuperRare Labs, told CoinDesk.

Over one year, RarePass holders will receive an airdrop once a month into their crypto wallet from 12 non-fungible token (NFT) artists, including XCOPY, Pindar Van Arman, Other World, Coldie and others.

Each artist will create a series of 250 unique pieces of art for corresponding RarePass holders. The collections are intended to reflect the beginning of a new era for each of these artists, according to Olney.

Pindar Van Arman, an AI artist with over 20 years of experience, has been with SuperRare since its inception in 2018. He told CoinDesk that the idea of collecting art via a series of digitally-exclusive airdrops is something “that hasn't been done before.”

ALIENQUEEN, Murders and Executions, 2022 (SuperRare)
ALIENQUEEN, Murders and Executions, 2022 (SuperRare)

The new pass provides a curated list of artists with an edge and gets their work seen by a wider audience, he added.

Olney told CoinDesk that the participating artists were chosen by its curation team. Although the platform initially considered having community input from the SuperRare DAO, the platform decided that “for something like this that’s the first go out of the gate … we felt like being pretty careful about how we control this,” Olney said.

In an effort to gamify the art collecting experience, an additional three artworks by 12 other artists will be distributed randomly to select pass holders on a monthly basis, totaling to 24 artists.

A 24-hour auction for the first RarePass will begin on Nov. 15 without a set floor price.

“We don’t want SuperRare to just arbitrarily come up with a number of what we think it’s worth,” Yanger said. “We really want the community to decide the pricing of the pass.”

The team also hinted at future passes for thematic collections, pending the success of the initial launch.

Boosting the crypto art market

As interest in the NFT market has cooled off with the broader crypto market, marketplaces are finding creative ways to entice new buyers and reward creators.

So far, SuperRare has transacted upwards of $280 million in sales, with more than half – $165 million – being earned by the platform’s artists through royalties, including $10 million in secondary sale royalties.

“That’s actually the innovation of NFTs,” Onley said. “It has gotten lost in the last couple of years when everybody became really engaged in numbers going up and speculative trading.”

Coldie x Hackatao, UAP - Unidentified Art Phenomenon, 2022 (SuperRare)
Coldie x Hackatao, UAP - Unidentified Art Phenomenon, 2022 (SuperRare)

On SuperRare, monthly crypto art volume hit a peak of $37 million in October 2021, compared to just over $4 million in October 2022. Now, the marketplace is looking to salvage lost ground with its innovative airdrop.

“A lot of the offerings that came out last year … were way overhyped and completely underdelivered,” Yanger said, adding that SuperRare’s Genesis collection looks to live up to its promises and give RarePass holders “actual access to artists that created this space with a single transaction.”

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Fran Velasquez

Fran is CoinDesk's TV writer and reporter.

Doreen Wang

Doreen Wang is CoinDesk's video journalist and writer. She has no significant crypto holdings.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.