31/10/2022 Meet the NFT platforms where not just anybody can sell their collections

Curated NFT marketplaces only sell NFTs by artists whitelisted on their platforms. This approach builds communities aligned with certain types of art and leads to higher average sale prices.

Meet the NFT platforms where not just anybody can sell their collections

A curated NFT marketplace is one where the access to sell an item is restricted. Only creators that are allowlisted (invited by an existing member or accepted by the platform curator) can offer their items there.

While this helps build a strong community around the artists on the platform, it also can reduce its outreach to the overall market. In this article, we will cover the features of Foundation and SuperRare and compare them with OpenSea, the leader among NFT marketplaces.

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Daily Distinct Buyers - NFT Curated Marketplaces & OpenSea, Last 30 DaysDaily Distinct Buyers – NFT Curated Marketplaces & OpenSea, Last 30 Days

Foundation

Foundationis an NFT creators’ invite-only marketplace. Launched in February 2021, Foundation is one of the largest NFT marketplaces on the web. The platform is famous for having notable NFT auctions, such as Edward Snowden’s first NFT and the Nyan Cat animation.

Foundation Home PageFoundation Home Page

NFT creators must get an invite code to be able to mint NFTs on the platform. The invites can only be sent by members who have already sold at least 1 NFT on the platform.

When an artwork is sold on the primary market, creators receive 85% of the final sale price. If an NFT is listed and collected again on the secondary market, a 10% royalty is automatically sent to the creator who originally minted the artwork.

Foundation has four selling options:

  • Buy Now: This option is a direct buy, accepting the selling price of the NFT you like.
  • Offers: This enables the buyer to send an offer direct to the creator.
  • Reserve Auctions: A minimum price is set, and when this condition is met, a 24-hour auction starts.
  • Private Sales: A direct transaction between two users.

Foundation collects a 5% marketplace fee on all transactions, meaning that creators get 95% of the total sales price when collectors purchase their NFT(s). If it is a secondary market sale, the seller will get 85% of the total sales, as 5% goes to Foundation, and 10% royalty goes to the creator.

SuperRare

SuperRare is an NFT marketplace to collect and trade unique, single-edition digital artworks. The artist needs to be allowlisted to be able to sell a collection on the platform.

SuperRare Home PageSuperRare Home Page

On primary sales (the first time an artwork is sold, also known as a mint sale):

  • The artist receives 85% of the sale amount
  • The SuperRare DAO Community Treasury gets 15% of the sale amount.

On secondary sales (which is any sale following the primary sale):

  • The seller receives 90% of the sale amount
  • The original artist receives 10% of the sale amount as a royalty

On all sales, a 3% marketplace fee is added to the sale price paid for by the buyer—this goes to the SuperRare DAO Community Treasury.

The SuperRare DAO Community Treasury is responsible for establishing artist and developer grant programs and ad-hoc expenditure of treasury assets as deemed necessary to support the continued growth and success of the SuperRare Network.

SuperRare Token ($RARE)

SuperRare introduced a token ($RARE) to pass the curation on the platform to the community (toSuperRare DAO). Part of the supply was airdropped to previous users who, together with the core team, are now part of the DAO that conducts the actions on the platform.

$RARE token holders collectively govern the SuperRare DAO – a decentralized organization that will oversee key platform parameters, allocate funds from the Community Treasury, and effectuate proposals passed through community governance relating to improvements to the network and protocol.

Besides curation and partnerships, another SuperRare DAO initiative is a Magazine where it shares more information about collections and artists and provides news about the NFT sector.

SuperRare MagazineSuperRare Magazine

Metrics

This section will present metrics of the curated NFT marketplaces and compare them against a benchmark—OpenSea.

As they offer exclusive collections, the curated NFT marketplaces can charge a higher fee than open Marketplaces. SuperRare also provides a token used to manage the platform (curation, fees, treasury), giving the community an extra incentive to participate.

The option to only work with exclusive collections makes the daily trading volume of the curated NFT marketplaces lower than the benchmark.

Trading Volume, Foundation & SuperRare & OpenSeaTrading Volume, Foundation & SuperRare & OpenSea

This difference in the daily volumes is explained by the number of users, as OpenSea has no restrictions on collections being traded there.

Curated Marketplaces & OpenseaCurated Marketplaces & Opensea

However, as the collections are curated, the average sale price is higher on the selected markets (Foundation and SuperRare) than on the benchmark.

FT Transaction, Daily Average Value, Last 30 Days - NFTs Curated Marketplaces & OpenSeaFT Transaction, Daily Average Value, Last 30 Days – NFTs Curated Marketplaces & OpenSea

The average sale price is over $2,000 on SuperRare, $400 on Foundation, and around$200 on OpenSea.

October 2022, Thiago Freitas

Data Source: Footprint Analytics –Curated NFT MarketPlaces Overview

Main Takeaways

Curated NFT marketplaces established themselves in a niche where their community drives the adoption of the collections. Because of their value proposition, they canclose partnershipswith other companies, increasing the collections’ uniqueness. In addition, SuperRare offers an extra incentive with their token ($RARE) used for governance (treasury management and curation at the platform).

This piece is contributed byFootprint Analyticscommunity.

The Footprint Community is a place where data and crypto enthusiasts worldwide help each other understand and gain insights about Web3, the metaverse, DeFi, GameFi, or any other area of the fledgling world of blockchain. Here you’ll find active, diverse voices supporting each other and driving the community forward.

Footprint Website:https://www.footprint.network

Discord:https://discord.gg/3HYaR6USM7

Twitter:https://twitter.com/Footprint_Data

Arts

https://cryptoslate.com/meet-the-nft-platforms-where-not-just-anybody-can-sell-their-collections/

Interesting NFTs
The Moth Catcher
In this psychologically bed-headed portrait, a creature sets in a trance; his eyes devolved and vestigal, his third eye open but hardened and in a form resembling a Sharingan. The imagery therefore expresses an awareness existing in corporeal introspection. The creature’s mind sprouts, on the left side, an emerging face, grinning. To the right side of the head, red tentacles and fingers intertwine–a collaboration of invertebrate and vertebrate consciousness cooperatively handling paint brushes of the sort used to build an oil painting. The neck and throat bristle with random thorns, as from a rose or the upper portions of a beak sprouting from its flesh. The neck itself disassociates into layers of membranous material, terminating upon an abstracted base of convoluted forms composing its body. The nose is virtually non existent, more a sinus reiterative of the shape of the third eye. Set against the exposed teeth peering out of thick, meaty cheeks, a skeleton-like impression results. That impression sets behind a visceral set of lips and tongue, which is the creature’s prime seat of awareness. Sensual, organic, the tongue organ hangs, meaty, and with consciousness of a sea cucumber. It illuminates at the tip, drawing the attraction of a nearby moth–with mystery of purpose.
Genesis
José Delbo sent me his striking pencil sketch and powerful inked work, which I then interpreted in oil on canvas. I wanted to create a very painterly piece with obvious brush marks etc, but I was also aiming for a nostalgic feel, a kind of 1980’s superhero comic book look, the kind I grew up with. My goal with this animation was to try to recreate, in part, the creative process that both artists went through with the visual information I had. I was able to showcase my painting process more accurately as I could take photographs of my progress throughout. Consecutive images could then be layered like brush strokes over José’s drawing to create the impression that this was one continuous artwork from pencil, to ink, to completed painting. The representation of the line sketch at the beginning, then pencil/ink and lastly the paint layers being applied demonstrate both artists’ struggle for the right lines, tone, form, and colour until the work is finally completed. As the oil was still wet with each photograph the glare of my studio lights can be seen in the brush strokes. Eventually, the figure emerges and as it does, our hero comes to life, looking directly at the viewer -- but is he grimacing in approval or disgust? We will never know for sure as just before he can say anything, white paint is brushed across the canvas entirely and the process begins again. Only the bat is quick enough to escape.
Cindy
Aloha! I'm Cindy. I enjoy eating until I loathe myself, hitting on yo' man, and watching Stranger Things. I was voted most likely to work at NASA in college. We can be friends, but keep the ultra purrsonal stuff to yourself, please.
#97242
By OthersideDeployer
X*Y=K
･゜ﾟ･:.｡..｡.:*･'(ﾟ▽ﾟ)'･*:.｡. .｡.:*･゜ﾟ･* for more info see https://tinyurl.com/56unnr39