As a follow up to the last article I wrote on SuperRare, this article will be outlining how you can get started as an artist or collector on the platform.
- Goal: Learn How to collect & trade crypto art
- Skill Needed: Intermediate
- Effort: 1-3 Hours
- ROI: Average resale on SuperRare is +915%
Things you will need:
Step 1: Get a hold of some Ethereum either through Buy Bitcoin Malawi, or through Binance.
Step 2: Get MetaMask or another Mobile/Web3 Wallet such as Coinbase Mobile Wallet or Nexo Mobile Wallet. Once you have this new wallet, transfer your Ethereum to this wallet.
Step 3: Set up your SuperRare account; head to https://superrare.co, then pick a username and you are ready to go.
Artists
Becoming an approved SuperRare artist is extremely difficult, as they want to ensure that the artists posting there are truly posting their own work. In order to get approved as an artist on the platform, you have to build your social presence, so that they can tell that you are truly sharing your own work.
Here are exhaustive tips on how to get approved by the team themselves:
https://help.superrare.co/en/articles/3581106-tips-for-getting-accepted-as-an-artist-on-superrare
Collectors
First of all, gain some knowledge of the digital art space and what is popular. Have a look at the popular digital artists and perhaps some of the upcoming artists and begin to look at their collections and how much they grow.
There are interactive tracking methods such as 7 Day Leaderboards, links to their Twitters and Instagrams- thus, you can see the artist’s clout (popularity) or potential to grow.
Once you have completed that, you can then begin to look at the artists who usually sell the most pieces of artwork and for the highest value. This will give you, as a digital art collector, an idea of what works and what type of artists and/or pieces of art to invest in.
The key here: scarcity and supply and demand. Therefore, you should be looking for the artists and pieces that are most sought out for but at the same time the artist should not be posting too much content.
Once you have built a collection and a following, you can then set prices on the pieces of art you are willing to sell. As you are actively trading, you will also gain statistics similar to those of the artist leaderboards and you will receive notifications for bids etc.
Purchasing
Factors to consider when purchasing a piece of art:
- Uniqueness
- How rare are the artists’ pieces
- Average Sale Price of the Artist (Estimate of Future Resale Value)
- Do YOU like it?
Perhaps, a piece of art won’t tick all those boxes when you are about to buy it, but at least a few should be ticked off. Scarcity is important if you are aiming to be a reseller and the average sell price of the artists’ work.
Sharing
In order to show your collections more as a collector and as an artist; it would be a good idea to share the art through pages such as VSCO, the SuperRare Discord and Ethereum spaces such as Decentraland.
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