Image for post
Image for post

SuperRare Joins Open DeFi As First NFT-Focused Protocol

We are thrilled to welcome SuperRare as the first NFT-focused protocol to the Open DeFi initiative. SuperRare will join the alliance in a distinctive position as a marketplace that is not in the DeFi market, but willing to explore how DeFi and NFTs can work together through the innovation track to generate new value and use-cases for both markets and asset types.

The Open DeFi initiative kicked off in September 2020 aiming to solve issues in the DeFi ecosystem such as creating bridges across borders and markets with the goal of fostering the growth of DeFi through focuses on risk, liquidity, and innovation. SuperRare will bring a unique perspective and opinion to this alliance as they have proven to be one of the most successful NFT marketplaces to come out of the recent NFT surge, bringing a fresh face to the digital art marketplace by incorporating auctions and verified artists for authentic digital paintings.

Founded in 2018, SuperRare has quickly climbed to one of the top crypto marketplaces with over $5M worth of volume and users in over 205 countries. Since opening up their platform to artists, they have helped facilitate a market of over 10,000 unique art pieces and created a marketplace that has put over $3.5M in the pockets of digital artists.

“SuperRare has become a staple in the crypto art ecosystem this year. Having been the first marketplace to deliver true authenticity, auctions, and re-sales, the SuperRare team is largely to thank for the recent wave of new users in the NFT market. We are excited to have them join Open DeFi to bridge the NFT and DeFi ecosystems through the innovation track with other partners interested in NFTs and support Open DeFi’s mission of growing the decentralized financial ecosystem around the world through the discovery of new asset classes and collaborative incubation.”

Eden Dhaliwal, Managing Director Conflux Network

In DeFi, we are constantly looking for new liquidity and asset types to flow into the markets. Non-fungible tokens provide a unique opportunity to capture more value in DeFi, however, current limitations on this specific asset type such as price discovery limit its true potential. Through the innovation track, our global set of partners want to work with NFT leaders like SuperRare on new ways that we can merge the two markets to better benefit both of the currently isolated markets. With this addition, we have reviewed proposals and plans to work together in building new use-cases that can attract new users from a wide variety of sources other than the current NFT trader.

About Open DeFi

Launched in 2020, Open DeFi is a global initiative that seeks to develop the decentralized financial ecosystem and advance the collaboration of DeFi projects across borders and blockchain networks. Through a unique program focused on risk management, new liquidity strategies, and innovation, Open DeFi brings together global CeFi and DeFi partners to drive the future of finance. Members include Conflux Network, Sequoia Capital, Blockpower Capital, Antelope Holdings, dForce, DeBank, MCDEX, and Shanghai Science and Technology Committee.

For more information, visit: https://www.open-defi.com/

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store