Spaces are independently run storefronts on SuperRare that can curate art and artists, promote sales, run auctions, and collect commissions. Each Space can launch its own branded ERC-721 compliant minting smart contract and invite artists to mint NFTs with them, either as a one-time event or on an ongoing basis.
New Spaces can be proposed to the DAO and voted on by token holders. If approved by the community, a new gallery space will be run by its own operating team, which could be a traditional art gallery, a DAO, an artist collective, or any other organization that curates and promotes art.
Space operators will have control over their commission structures to provide the desired level of support and promotional services for artists minting in their Space.
Spaces mainly act as curated, branded primary markets: the operating team can select artists, coordinate and promote drops, and build their own following and collector base. The main benefit for an artist to sell through a Space is the promotion and coordination of a sale. Artists want their works to be promoted as successfully as possible, but often don't want to be their own auctioneers or PR agents.
When thinking about traditional art galleries, the services offered by these groups extend far further than just showcasing the art; a gallery might act as a networking tool, PR agency and promoter. SuperRare Spaces will allow individual communities to experiment with these value propositions for the artists and art in their respective space.
Once live, a Space becomes its own sovereign cryptoart gallery. The gallery page becomes the primary interface for the collective, although the NFTs created within will also appear in the aggregated SuperRare market. Spaces, and the artists they work with, will be expected to follow the rules, requirements and policies outlined in the SuperRare community guidelines and Terms of Service for the benefit of community standards.
In order to incentivize thoughtful curation and active participation, Space operators can earn meaningful commissions on sales. Each Space launches with a default 10% commission, which the operator can choose to increase if they feel their value-added services justify further renumeration. A 5% commission on all Space sales will be routed to the SuperRare DAO. For example, if a Space’s commission is set to 10%, then with the 5% SuperRare commission, the total sales commission for an artist would be 15% - meaning they’d receive 85% of a primary sale.