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What is Superrare?

November 18, 2018 Ian LeViness Cryptocurrency Comments Off

If you haven’t yet read any of our previous pieces on the subject, be warned.

Art is moving to the Blockchain. Helping this process along is the existence of GANs and therefore, what may be called “AI artists.”

Superrare is one company working in all of these spaces at once. Upon first visiting Superrare’s website, the first thing that you see is the phrase, “Collect Superrare Digital Creations.” Upon delving further into what this process involves, it may be said that Superrare has something unique to offer.

On a basic level, it seems that Superrare is an Ethereum-like Blockchain in that it describes itself as “a smart contract platform.” To simplify this a bit, think about a Blockchain on which users can transact in smart contracts. In most cases, they are used to prevent any sort of dispute related to any sort of monetary transaction.

In the case of Superrare, this plays out a bit differently. As alluded to above, Superrare employs GANs to allow just about anyone to create “Crypto” art, with the Blockchain as the foundation of the entire process. Secondly, by crypto art, we mean “art that is native to the Blockchain.” More specifically, this means that each piece has its own native Crypto token that is connected to one or more Blockchains, in order to prove immutably that these pieces are rare as well as who their creators and owners are. Think tokenization of assets as applied to works of art.

With all of this in mind, it would not be unreasonable for you to wonder exactly what the major argument is for the intersection of these three technologies. At this juncture, it is possible to say that a use case exists when a firm wants to prove ownership of something, while at the same time creating something that is truly unique. Since this unique creation refers to art, it can finally be concluded that Superrare’s differentiation lies in the connection of tokenization and allowing anyone to be an artist.

In our next post on the subject, expect us to go into specific use cases of how this works out in practice, including mentioning possible competitors to Superrare.

Until then, take a look below at our suggested reading list related to this niche.