SuperRare Announces New Payment Allocation as RarePass Goes Live
The SuperRare team announced a change to the artist payment allocation for the RarePass: Genesis project, via tweet this afternoon, right before the Dutch auction for the remaining passes went live.
As a refresher, each RarePass will provide the holder with 1 edition of 250 count each month from top artists (including XCOPY, Drift, Matt Kane, and several more), along with opportunities to win 1/1s from the artists along with other perks. Catch up on full details with this primer.
The team had received negative feedback from the community in the past few days, primarily related to the fact that none of the proceeds from the primary sale were going to the artists supporting the project.
SuperRare Labs reacted (somewhat), saying that 10 percent of the proceeds would go to the artists in a recent change. Their Twitter thread went on to share their challenges in running a business in this bear market, and how they are not "sitting on a massive war chest."
The Dutch auction for the remaining 207 RarePasses is now live, decreasing in price every 15 minutes for 6 hours or until all are purchased. The current price is 126.5 ETH at the time of writing. Follow along here.