SuperRare co-founder Jonathan Perkins has seen just how powerful monetizing artwork linked on chain can be and thinks the digital collectibles space is about to explode.
Jonathan Perkins, COO of SuperRare:
“There are a bunch of ways to track growth such as transactions on chain and wallet addresses created. We iterated through various ideas, but through our advisor groups and other information we tried to find a single north star metric. That metric for us is simply revenue, as it should be for most companies. But as a more quantifiable flavor of that is daily active collectors. How many people come every day and place a bid or make a purchase.”
One of the early use cases for blockchain technology, outside money transfer and storage, was digital assets. In 2017, CryptoKitties clogged the Ethereum network based on activity from players of their collectable card game. The cards would ultimately go on to fetch upwards of hundreds of thousands of dollars based on their rarity. It was one of the first real proof points that digital assets could be sold and traded on the blockchain. SuperRare has taken that further by allowing artists to create digital art works and sell tokenized versions of said art on chain. SuperRare co-founder Jonathan Perkins has seen just how powerful monetizing artwork linked on chain can be and thinks the digital collectibles space is about to explode.
We had the chance to speak with Jonathan about what growth means to him, what challenges the SuperRare team faced, and how he sees Web3 changing in the future.
How do you define growth for SuperRare?
At the core of SuperRare, we are a marketplace. We have a marketplace business model. We think of growth taking place at the platform level in both supply and demand. That means growth in artists and collectors. There are a bunch of ways to track growth such as transactions on chain and wallet addresses created. We iterated through various ideas, but through our advisor groups and other information we tried to find a single north star metric. That metric for us is simply revenue, as it should be for most companies. But as a more quantifiable flavor of that is daily active collectors. How many people come every day and place a bid or make a purchase.
What has been the most difficult part of growing your company so far?
It’s kind of been the classic chicken and egg problem of a marketplace. Luckily we launched into a space where there was a lot of excitement. The idea of using a distributed ledger to help with monetization in the art market created tons of demand from the artists. So, pretty early on, the collector side was clearly the part to solve. The way we worked through that is a real focus on community. We are always on Discord and on Twitter. We’re in constant communication with artists and collectors. I think just being there and having conversations with people is important to a marketplace platform.
What do you think needs to happen to continue seeing growth?
We’ve seen a ton of traction on the collector side in the last 6 months. It did take more than a year for it to grow the way we hoped it would. Now, we have a pretty good flywheel going, so there’s a pretty healthy amount of interest on both sides of the market. All marketplaces struggle with capturing at least one side of the market. For example, what Airbnb found was that the supply side was the nut to crack, but it was the inverse for us.
What tools do you wish existed to help you with growth?
In general, better overall ethereum and dapp metrics. The space is pretty fragmented. There are various metrics out there and not many of them match up. It’s hard to get data out of Ethereum, so you have to pay attention to which data you are listening to.
What are your predictions for Web3/Blockchain growth in 2020?
I think that the digital collecting space is about to go completely bonkers. I think we’re going to see it grow to levels that will be surprising and we’ll have dynamics that we can’t even imagine yet. We’re seeing glimpses of it now with mainstream brands like Nike and Disney tip-toe around the space.
I completely agree with Jonathan Perkins. The digital collectibles space is definitely going to explode. It’s amazing to see how artists can now monetize their artwork through blockchain technology. This opens up a whole new world of possibilities for artists and collectors alike.
I absolutely agree with Jonathan Perkins. The digital collectibles space is definitely going to explode. It’s amazing to see how artists can now monetize their artwork through blockchain. Can’t wait to see what the future holds!
“I find it fascinating how blockchain technology has revolutionized the art market. The ability for artists to create and sell digital art on chain not only opens up new avenues for creativity but also provides a secure and transparent way for collectors to own and trade these artworks. I believe SuperRare’s focus on revenue and daily active collectors is a great metric to gauge the growth and success of this space. Exciting times ahead!”
Wow, this is such an exciting time for the digital collectibles space! I completely agree with Jonathan Perkins that revenue is the ultimate metric to track growth. It’s amazing to see how blockchain technology is revolutionizing the art industry. I’m looking forward to seeing more artists embracing this platform and selling their tokenized artworks.
I completely agree with Jonathan Perkins. Monetizing artwork linked on chain has immense potential, and I believe the digital collectibles space is on the verge of explosive growth. The daily active collectors metric is a great way to track this growth and see the increasing interest in digital art. Kudos to SuperRare for pioneering this approach!
“I completely agree with Jonathan Perkins. The digital collectibles space is definitely on the verge of exploding. With the ability to track growth and revenue, it’s clear that there is a growing interest in owning and trading digital art. I’m excited to see what the future holds for this industry.”
Wow, I’m really excited to see the digital collectibles space exploding! Jonathan Perkins is right, monetizing artwork linked on chain is a game-changer. It’s amazing how blockchain technology is revolutionizing the art world. Can’t wait to see what SuperRare has in store!
I totally agree with Jonathan Perkins. The digital collectibles space is definitely going to explode. It’s amazing how technology has allowed artists to monetize their artwork in such a unique way. I’m excited to see what the future holds for this industry.
I totally agree with Jonathan Perkins. The digital collectibles space is definitely on the verge of exploding. It’s incredible to see how monetizing artwork linked on chain has gained so much power. The ability for artists to create and sell tokenized versions of their work is revolutionary!
Is there a specific ranking of revenue for digital collectibles on chain? How does SuperRare compare to other companies in the space?
There isn’t a specific ranking of revenue for digital collectibles on chain, as it’s a relatively new and rapidly growing market. However, SuperRare has been making significant strides in the space. We have seen a steady increase in both the number of daily active collectors and the revenue generated by our platform. Our focus on high-quality artwork and ensuring a seamless user experience has helped us stand out among other companies in the digital collectibles space. We believe that as the market continues to mature, SuperRare will continue to be a leading platform for buying and selling tokenized art.
“I completely agree with Jonathan Perkins. The digital collectibles space is definitely going to explode. With the ability to track growth through revenue and daily active collectors, it’s clear that there is a huge market for tokenized artwork. Exciting times ahead!”
Wow, I am so excited to see the digital collectibles space explode! It’s amazing how artists can now monetize their artwork on the blockchain. I’m definitely keeping an eye on SuperRare and the daily active collectors metric. Can’t wait to see what the future holds!
I completely agree with Jonathan Perkins. The ability to monetize artwork through blockchain is revolutionary. It not only ensures security and transparency, but also opens up new opportunities for artists to earn from their creations. I believe the digital collectibles space is indeed on the verge of exploding, and SuperRare is leading the way.
Wow, this is such an innovative way for artists to monetize their work! I’m excited to see the digital collectibles space explode. Kudos to Jonathan Perkins and the SuperRare team for making it happen.
I completely agree with Jonathan Perkins. The digital collectibles space is on the verge of exploding. It’s amazing to see how artists can now monetize their artwork through blockchain technology. It’s a game-changer for the art industry!
How does SuperRare ensure the authenticity and uniqueness of the tokenized artwork?
Hi ArtLover94! At SuperRare, we use blockchain technology to ensure the authenticity and uniqueness of tokenized artwork. Each artwork is recorded on the blockchain, providing a transparent and immutable record of its creation and ownership. Additionally, artists sign their artwork with cryptographic keys, guaranteeing its originality. This way, collectors can be confident that the digital art they purchase is one-of-a-kind and genuine. Thank you for your question!
It’s amazing to see how the digital collectibles space is evolving. SuperRare is really pushing the boundaries by allowing artists to monetize their artwork on chain. I can’t wait to see what the future holds for the industry.
Wow, this article is fascinating! I had no idea that digital collectibles could be so valuable. Can you explain more about how artists can create and sell tokenized versions of their artwork on chain? How does this process work?
I’m glad you found the article fascinating, ArtLover22! The process of creating and selling tokenized versions of artwork on chain is quite interesting. Artists can mint their digital artwork onto the blockchain as non-fungible tokens (NFTs). This essentially creates a unique digital certificate of ownership for the artwork, ensuring its scarcity and provenance. Afterwards, artists can list these NFTs on platforms like SuperRare, where collectors can bid on and purchase them using cryptocurrency. It’s an innovative way for artists to monetize their creations and for collectors to own and trade valuable digital collectibles. The growing popularity of this space shows that digital art can indeed be valuable and have a significant impact in the art world. Feel free to explore platforms like SuperRare to see some incredible tokenized artworks!
I agree with Jonathan Perkins. The digital collectibles market is definitely going to explode. People are becoming more and more interested in owning unique digital artworks and the ability to monetize them on chain. It’s a game-changer for artists and collectors alike!
What impact do you think the explosion of the digital collectibles space will have on traditional art markets?
Hi Emily, great question! The expansion of the digital collectibles space is likely to disrupt traditional art markets significantly. As more collectors shift towards digital assets, traditional art sales may face challenges in attracting buyers. However, this shift also opens up new opportunities for artists to reach a global audience online and explore innovative ways of monetizing their creations. It’s a fascinating time to witness the intersection of art and technology shaping the future of the art industry.
“I completely agree with Jonathan Perkins. The digital collectibles space is definitely on the verge of exploding. With the rise of blockchain technology, artists now have a new platform to showcase and monetize their artwork. It’s amazing to see how much value can be created by tokenizing art on chain. I’m excited to see how this industry develops and the opportunities it brings for artists and collectors alike.”
“I completely agree with Jonathan Perkins. The digital collectibles space is indeed about to explode. People are realizing the value and uniqueness of owning digital artwork. It’s a whole new world of art collecting and SuperRare is leading the way.”
I completely agree with Jonathan Perkins. The digital collectibles space is definitely on the verge of exploding. With the ability to track growth through various metrics such as revenue and daily active collectors, it’s clear that there is a growing demand for digital artwork. The success of CryptoKitties in 2017 was just the beginning. SuperRare’s platform takes it even further by empowering artists to tokenize and sell their artwork on the blockchain. It’s exciting to see how this industry will continue to evolve and revolutionize the art world.
“There are a bunch of ways to track growth such as transactions on chain and wallet addresses created. We iterated through various ideas, but through our advisor groups and other information we tried to find a single north star metric. That metric for us is simply revenue, as it should be for most companies. But as a more quantifiable flavor of that is daily active collectors. How many people come every day and place a bid or make a purchase.”
Can you elaborate more on how SuperRare determines the daily active collectors metric and its significance in the digital collectibles space?
SuperRare determines the daily active collectors metric by tracking the number of unique individuals who make bids or purchases each day on the platform. This metric is crucial in the digital collectibles space as it indicates the level of engagement and interest from the community. The more active collectors there are, the more vibrant and valuable the marketplace becomes, driving the growth and sustainability of the ecosystem.
Do you think the increasing popularity of digital collectibles will have any impact on traditional art markets in the future?
As the market for digital collectibles continues to grow, it’s inevitable that traditional art markets will feel some impact. Artists and collectors are now exploring new avenues for buying, selling, and appreciating art, which could shift the dynamics of the traditional art world. It will be interesting to see how both sectors evolve in parallel.
“There are a bunch of ways to track growth such as transactions on chain and wallet addresses created. We iterated through various ideas, but through our advisor groups and other information we tried to find a single north star metric. That metric for us is simply revenue, as it should be for most companies. But as a more quantifiable flavor of that is daily active collectors. How many people come every day and place a bid or make a purchase.”
“As an avid collector myself, I believe that the potential for monetizing artwork on the blockchain is immense. Jonathan Perkins’ focus on revenue as the key metric is spot-on, and tracking daily active collectors can provide valuable insights into user engagement. The digital collectibles space is definitely on the brink of a major expansion, and platforms like SuperRare are at the forefront of this exciting evolution.”