# The $RARE Token

![](/files/-MhHWyHNETSG6WzANnTP)

Web3 has been part of SuperRare’s DNA since day one. Built on open source ERC-721 Ethereum smart contracts, all transactions on SuperRare are on-chain (meaning provenance is transparent) and non-custodial (meaning SuperRare never takes possession of users’ money or art).

We believe web3 is ushering in a new era of the internet. An era in which the users of a platform can be the owners of the platform, helping bring it to life and benefiting from its upside value creation.

In order to scale up and take advantage of the true power of web3, SuperRare is embarking on a path of progressive decentralization – ultimately shifting ownership and curation of the network to the community.

Curation will gradually be vested to our community of artists, collectors, and curators via a new SuperRare curation token, **$RARE**.

As the network evolves, SuperRare Labs will look to empower community members by offering incentives to actively curate. As a predecessor to full on-chain curation, $RARE will provide the community with governance of certain network parameters including Spaces, commissions and grants.

{% hint style="info" %}
The official contract address for $RARE is: **`0xba5BDe662c17e2aDFF1075610382B9B691296350`**

*\*Please always triple check that you are interacting with the correct contract address and be aware of scams!\**
{% endhint %}


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