• Single Edition Ether NFT Prices Soar as SuperRare Releases Best Monthly Report

  • SuperRare, an ethereum NFT marketplace focused on single-edition digital artwork, has posted its best month of total sales (in dollars) to date – with nearly a week left in October.

    Public blockchain data, curated by Dune Analytics, shows that SuperRare’s NFT transactions so far this month have exceeded $31 million, surpassing the previous record of slightly more than $29.5 million back in March. These statistics include both primary and secondary sales.

    Interestingly, SuperRare has only half as many active collectors on the market buying this month compared to March. Conversely, the average sale price has spiked, with the rolling average of the last 1,000 sales now standing at 12.1 ETH, or about $50,300. This is its highest level ever, and more than twice the average ETH level in March.

    NFT is actually a blockchain-backed ownership deed for digital projects, including digital illustrations, video files, and more. By far, Ether is by far the largest NFT network, with the entire NFT market generating $10.67 billion in transaction volume in the third quarter, according to DappRadar.

    Starry Night Capital, a $100 million NFT collection fund founded in August by Three Arrows Capital and well-known collector Vincent Van Dough, has single-handedly accounted for nearly half of SuperRare’s total trading volume so far in October.

    The investment fund is focused on accumulating top NFTs that it believes will appreciate in value over time, and since announcing its existence, Starry Night has made some notable purchases, buying Art Blocks NFTs from Dmitri Cherniak’s Ringers collection for 1,800 ETH, or $5.66 million at the time of purchase million.

    “Our argument is simple, we believe the best way to be exposed to the cultural paradigm shift brought about by NFTs is to own the top pieces from the most popular sets,” Van Dough tweeted in August.

    Over the weekend, Starry Night purchased a brand new piece by artist XCOPY, Dankrupt, on SuperRare for 469 ETH ($1.9 million).XCOPY’s work is considered a blue chip piece in the NFT collecting space, and rapper Snoop Dogg sold it on SuperRare in late September for 1,300 ETH ($3.9 million) for one, which is a record dollar sale for the platform.

    Other big Star purchases in October included a pair of Cherniak pieces for 800 ETH ($2.4 million) and 500 ETH ($1.5 million), and a collaboration between artist Beeple and Time magazine for 675 ETH ($2.4 million).

    Snoop purchased some SuperRare himself in October through his Cozomo de’ Medici alias, notably artist Deekay’s animation Destiny for 225 ETH ($809,000).

    SuperRare’s record month is a relatively small slice of the overall NFT market these days, and it’s a drop in the bucket compared to peer-to-peer marketplace OpenSea, which has traded for more than $3 billion in each of the past two months.

    But while OpenSea is more about trading avatar series and other large sets, SuperRare’s growing trading volume and soaring sales prices suggest that the valuation of desirable single-edition NFTs is on the rise.SuperRare’s user base is also a fairly exclusive club, with total collector numbers recently topping just over, via Dune Analytics 4,000, with about 1,600 artists joining.

    Ether NFT Marketplace SuperRare Launches Token – It’s Giving Away 150 Million Tokens

    The marketplace recently underwent a transformation as it gradually decentralized its curation model for selecting artists.SuperRare began airdropping 150 million RARE tokens to users and artists in August, and launched a community-driven onboarding process for new artists, including through a user-run gallery called SuperRare Spaces.

    RARE hit an all-time high of $3.64 per token earlier this month, and the price doubled in a matter of hours after news broke that cryptocurrency exchange Binance would list the token. Currently, the price stands at $2.01, which is still a significant increase in value compared to the period before Binance’s announcement.

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