SuperRare NFT-marketplace token surges 900% after launch

On August 17, NFT-platform SuperRare released its native token RARE and began the airdrop. In less than a day the asset rose from $0.12 to $1.27 (at the time of writing).

The rise was more than 900%, and at one point RARE traded above $3.50.

The token release was one of the innovations as the marketplace moved to version 2.0. SuperRare will distribute 150 million or 15% of the total supply of RARE to its early users.

With the token they will be able to participate in governance of the project through the decentralized organization SuperRare DAO, voting on decisions implemented by the Governing Council.

In the new version there are also “independent storefronts” SuperRare Spaces with community-chosen curators and the ability to import NFTs issued on other platforms.

Introducing $RARE 💎

🎨 A revolution in NFT art curation
❤️ Community owned and governed
💥 Diverse curatorial voices

We’re putting the future of SuperRare and the power of curation into the hands of our community.

Find out how ⬇️https://t.co/lgqUqhFzFO pic.twitter.com/VgX3LEOLrx

— SuperRare 💎 (@SuperRare) August 17, 2021

The marketplace began operating on April 5, 2018. According to the statement, since launch, more than 1,400 creators have sold works through SuperRare for over $90 million.

In March, the platform attracted $9 million in a Series A round with the participation of billionaire Mark Cuban, the SamsungNext fund, Sound Ventures (Ashton Kutcher’s firm) and other investors.