Bitcoin
$48,063.43-0.58%
Ethereum
$3,568.77-2.24%
XRP
$1.10-1.42%
Cardano
$2.43-2.08%
Polkadot
$36.90+2.42%
Stellar
$0.332470-1.80%
Dogecoin
$0.258400+5.00%
Chainlink
$29.91-5.62%
Uniswap
$25.87-4.96%
Polygon
$1.38-5.87%
Litecoin
$186.51-2.45%
Bitcoin Cash
$641.56-0.20%
Algorand
$2.09+3.93%
Wrapped Bitcoin
$48,098.58-0.61%
Cosmos
$36.59+13.29%
Filecoin
$84.35-6.27%
The Graph
$0.853512-4.48%
Tron
$0.119610+2.54%
Ethereum Classic
$58.39-1.20%
Aave
$386.15-5.28%
Tezos
$6.73-1.39%
NEO
$50.95-2.74%
EOS
$5.07-0.13%
Monero
$267.06-1.26%
IOTA
$1.52-5.08%
BitTorrent
$0.004074-0.77%
Waves
$30.37-6.37%
Bitcoin SV
$157.98+0.24%
Maker
$2,914.14-7.31%
Dash
$207.28-4.06%
Decred
$146.73+2.09%
Decentraland
$0.847801-2.31%
ICON
$2.00-3.85%
NEM
$0.189248+0.61%
Zcash
$139.37-2.43%
Qtum
$12.78-0.57%
NuCypher
$0.336267-2.68%
Yearn Finance
$34,764.49-5.20%
Bitcoin Gold
$67.12-3.13%
OmiseGO
$8.65-3.20%
Basic Attention Token
$0.774899-2.13%
0x
$1.12-2.69%
Fetch.ai
$0.913434-3.00%
Paxos Standard
$1.00+0.82%
Ren
$1.03-9.98%
Bancor
$4.19-3.61%
Band Protocol
$9.70-1.59%
Siacoin
$0.018917-2.85%
Kava.io
$6.31-1.66%
Nano
$5.68-3.47%
Loopring
$0.470323-5.58%
Storj
$1.41-1.82%
Civic
$0.528754+1.11%
Lisk
$3.63-4.23%
Numeraire
$44.22-2.36%
Orchid
$0.378468-2.06%
PAX Gold
$1,770.22-1.62%
Augur
$26.46-0.88%
Aragon
$5.00-5.68%
Enzyme
$117.17-7.96%
district0x
$0.178510-5.67%
Kyber Network
$1.97+4.29%
SingularDTV
$0.001254-4.95%
Tether
$1.00-0.01%
USD Coin
$0.999951-0.01%
Dai
$1.00-0.02%

Cuban, Palihapitiya Back NFT Marketplace SuperRare's $9M Series A

The NFT marketplace plans to build out its social features and experiment with presenting works in virtual reality.

Mar 30, 2021 at 1:00 p.m. UTC
Updated Sep 14, 2021 at 12:33 p.m. UTC

SuperRare, one of the leading marketplaces for non-fungible tokens (NFTs), has cashed in on NFT mania with a $9 million funding round led by tech venture capitalists Velvet Sea and 1confirmation.

Mark Cuban, Chamath Palihapitiya, Marc Benioff (CEO of Salesforce.com) and other well-heeled tech backers also participated in SuperRare’s Series A, the three-year-old startup told CoinDesk.

The round comes as crypto worth millions pours into blockchain-linked digital collectibles. While huge sales by relatively established artists such as Beeple catch headlines in mainstream media, an army of lesser-known NFT creators are also selling for six-figures on marketplaces such as SuperRare.

Artists are now generating over $25 million in total sales per month on SuperRare, the startup said. When it launched three years ago, a given month might have seen just $8,000 total. 

But the crowd driving SuperRare’s boon remains surprisingly small. 

Just 727 wallet addresses combined for $5.47 million in SuperRare trading volume in the past week, according to on-chain data site DappRadar. It was the fifth-largest NFT marketplace by volume during that period.

SuperRare occupies a relatively small but gilded corner of the surging $400 million NFT market. Unlike competitors OpenSea and Nifty Gateway, which are larger and more akin to collectible clearinghouses than swanky digital art showrooms, SuperRare only lists one-for-one editions, making its fare feel almost like a gallery.

Founders John Crain and Jonathan Perkins will invest the capital to fund the platform's growth, they said. Future features include social rollouts, upgrades to the marketplace backend, a foray into virtual reality and taking steps to ensure featured works remain accessible in the long-term.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...