Quick Summary:
- In order to sell a collection through the platforms, artists must be whitelisted.
- Curated NFT marketplaces can form partnerships with other companies, increasing the uniqueness of their collections.
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NFT marketplaces with curators only sell NFTs by artists they have whitelisted. As a result of this approach, communities aligned with certain types of art are built, which leads to a higher average sale price. However, this also reduces the platform’s outreach to the rest of the market, despite the fact that it builds a strong community around its artists.
Foundation
NFT creators can only access the Foundation through invitation. As one of the largest NFT marketplaces on the web, Foundation was launched in February 2021. In addition to Edward Snowden’s first NFT auction, Nyan Cat’s animation is another famous auction from the platform. To mint NFTs on the platform, NFT creators need an invite code. Only members who have sold at least one NFT can send invites.
Artists receive 85% of the final sale price when their artwork is sold on the primary market. NFTs are automatically paid a 10% royalty if they are listed on the secondary market and collected again.
There are four ways to sell at Foundation:
- If you choose Buy Now, you accept the NFT’s selling price.
- Buyers can send direct offers to creators using this feature.
- An auction is begun when a minimum price is met, and it lasts for 24 hours.
- Transactions between two users that are private.
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.
A primary sale (also known as a mint sale) is the first time an artwork is sold:
- 85% of the sale proceeds go to the artist
- 15% of the sale amount goes to the SuperRare DAO Community Treasury.
In the case of secondary sales (sales after the primary sale):
- 90% of the sale proceeds go to the seller
- A royalty of 10% is paid to the original artist
- The SuperRare DAO Community Treasury receives a 3% marketplace fee on all sales.
To support the continued growth and success of the SuperRare Network, the SuperRare DAO Community Treasury establishes grant programs for artists and developers.
Conclusion:
The curated NFT marketplaces have established themselves in a niche where their communities drive the adoption of the collections. As a result of their value proposition, they can close partnerships with other companies, increasing the uniqueness of their collections. Additionally, SuperRare offers an extra incentive with their token ($RARE) used for governance (treasury management and curation).ň
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
