Introduction

Thank you @levycore for coming onboard and I am glad to participate in your lecture and Homework task on Non-Fungible Tokens (NFTs). NFTs are not tangible assets which we can have direct contact with but rather digital assets program in the tangible form. They are either interchangeable nor replaceable just unlike what the tangible tokens offers. This kind of assets and its way of transaction is one of it kind where it represents the real world in the digital form. Properties and assets are transacted (Buying and selling) as if they are tangible or physical but they are all digital and in their non physical form. Can you imagine User-A buying a land for $100million in a reserved area and reselling it for another User-B for $120million...(all this being non-tangible).

The SuperRare NFTs Project

Having known the basics of NFTs, SuperRare was designed in this line to exhibit artworks. It is primarily a pool of digital artworks with each of this artwork authentically created by the list of artists involved collectively as one or individually which are tokenized and made available for us to own and trade on. The SuperRare was created on the ERC-721 token in 2017 with features of traceability and also cryptographically protects each of the digital artwork made available for our trade. SuperRare is known to be one of the leading Non fungible Tokens marketplaces for digital artworks with over $7.5million trading volume and artworks presence of over 12,000pieces sold.

Considering the fact that the SuperRare is a pool of artworks (which is aslo known as collection of artworks or marketplace), artists are allowed to send in their artwork which undergoes certification by the platform to limit issues of copy right violation and forgery. This digital artworks sent into the SuperRare platform by the artist are charged a certain amount of commission before they drop into its system completely. Who says artists does not make money from this uploaded artworks into the platform? It was discovered that artwork artist made about $2million for over 8,000 artworks collected. The more digital artworks seen in the marketplace, the more earnings seen for both parties (The SuperRare and Artists).

The Special Thing about SuperRare
SuperRare been among the leading crptoArt platforms in the world have succeeded in connecting so many in the world of collection. Since people are always interested and ready to pay for such social interaction, hence SuperRare has continuously provided a safe and meeting and marketplace for people and digital artworks respectively. artist on the other hand has benefited immensely from this platform not only as means of capital inflow but as a means to express themselves freely with unlimited passion. Did I mention that It also floats a membership club for all it's known members, he it does...

What else again would one expect from this robust platform, it allows the original creators of this digital artworks to continuously receive fees even long after they have resold this tokenized assets. This works in the form of loyalty to the original creator of this tokenized artworks. For example, a newly created digital artwork distributes 85% to the artist and 15% to platform collector thereafter any other resell that happens attracts a 3% commission to the original artwork creator.

To Become an Artist in SuperRare
This is very essential in the system to enable build content originality and confidence amongst all concerned. Theses are the few criteria required to become a SuperRare Digital Artwork artist.

• Proof of Identity: this is mainly done to ensure that the system isn't infiltrated with fake and forged artworks. Artist most times are meant to identify themselves by either providing their social medial handles or make a short video of themselves, or and audio display of themselves for those who want to keep their identities private. All this identity status and assurance is to make sure the collectors of this digital artworks which has already being tokenized in the platform are kept in its original status always.
• Social Media Hype: This is an avenue whereby an artist endeavors to promote himself and his artworks on the social media platform not necessarily because of the fan base but to create that originality to existing digital artwork collectors and prospective collectors.
• Creativity in Original & Consistent Style: This is in no way to discourage or limit the diversity of any artist but for SuperRare who believes every Digital artwork artist should be known for its specificity. This would enable the platform to uniquely identify this artist if taken after been accepted. Also, artist are requested to present series of their contents as a proof in this line.
• Scarcity and Quality of Work: SuperRare encourages artist on the platform to constantly work on quality artworks rather than flooding the platform with general contents. It believes in making sure that collectors get quality and unique digital artwork contents all the time. This will not only increase the value of content but also drive satisfaction to collectors.

Thank you Prof for making me come to know what NFTs is all about and also having the little knowledge to participate on your homework. It was worth it the time.

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