Netgear Collab SuperRare DAO to Develop NFT Art License Model
- The SuperRare DAO will demonstrate its craft on Meural Smart Frames.
- Mural Digital Canvas will connect its canvas with the MetaMask Wallet and Coinbase.
Networking hardware company Netgear has already expanded into smart home products. Later, Web2 watch is on its way to gain Web3 market share.
In 2018, Netgear purchased various smart home products with the Meural smart frames digital canvas. But according to the companies latest plan, Meural digital art frames are used for NFT demonstrations. It will be with the collaboration of collections and artists from the SuperRare digital art market.
This collaboration meant joining the SuperRare DAO digital art marketplace. And in addition, its governance token, RARE. It kind of represents digital art on its platform. At the same time, the company has not openly indicated the amount and quantity of token purchases.
The purpose of SuperRare
The company aims to co-develop a license and royalty model. This will display the NFTs of SuperRare collections curated on the Meural canvas. While Netgear and Meural’s first step is to submit a governance proposal to the SuperRare company.
However, SuperRare company CEO John Crain said advancing the traditional art with NFTs provided a unique entry point for the company.
He said, “There are about 10,000 serious traditional art collectors around the world, and it’s like a $60 billion market.” In which he points to Larry’s list of the Art Collectors Database.
He added, “We don’t really have a standard on how to do this with NFTs in the context of streaming.” On the other hand, the smart contract indicates a 10% royalty stipulation on the art to ensure the company’s compensation through secondary sales.
US tech company Meural integrates with popular Coinbase and MetaMask crypto wallets. The Mueral library has over 30,000 licensed works with dynamic and programmable NFTs.
Raising the question about its subscription offering, Crain asked how to accurately measure what members are currently posting on their home and office walls, then have smart contracts “do the math and distribute the funds.” if applicable”.
Adding to his words, Crain also said, “These two worlds are coming together, so we’re going to see the number of users increase dramatically.”