NETGEAR Extends Commitment to NFT Creators and Collectors by Joining SuperRare DAO

Rhea-AI Summary

NETGEAR (NASDAQ: NTGR) has announced a partnership with SuperRare, a unique NFT marketplace, marking its entry into the Web3 space. This collaboration aims to develop a licensing and royalty model for displaying NFTs on NETGEAR's Meural digital canvas. By acquiring $RARE tokens and joining the SuperRare DAO, NETGEAR seeks to empower artists and enhance the experience of digital art. The Meural platform already features over 30,000 licensed artworks and will showcase curated NFT collections as part of this initiative. This partnership embodies a shared vision to innovate in digital art engagement.

Positive

• Partnership with SuperRare strengthens NETGEAR's entry into the Web3/NFT market.
• Development of a licensing model for NFT displays could generate new revenue streams.
• Acquisition of $RARE tokens indicates commitment to the future of digital art.
• Meural platform will feature curated NFT collections, expanding its artistic offerings.

Negative

• None.

NETGEAR’s Meural digital canvas provides company’s first entry point to Web3

SAN JOSE, Calif.--(BUSINESS WIRE)-- NETGEAR®, Inc. (NASDAQ: NTGR), the leading provider of award-winning connected products designed to simplify and improve people's lives, today announced a partnership with SuperRare, the pioneering marketplace for unique NFT artwork. NETGEAR will join the SuperRare DAO to help develop a licensing and royalty model for displaying NFTs on digital displays. The licensing model, which supports the showcasing of curated SuperRare collections on the Meural platform, strengthens a vision both companies share to create new ways to interact with digital art, culture and collections.

NETGEAR's Meural Canvas II featuring Nocturnal, an NFT artwork from SuperRare artist giantswan. (Photo: Business Wire)

Investing in the Future of Digital Art

The acquisition of $RARE tokens and participation in the SuperRare DAO signals the start of a new era for NETGEAR and a doubling down on its commitment to creating a new model for digital art. Its involvement in the SuperRare DAO is designed to shape the future of decentralized curation, community organizing and artist empowerment.

Empowering artists

Meural by NETGEAR was founded on the belief that thoughtful use of technology could transform access and discovery of visual art and make it part of people’s daily lives. The platform, made up of a distinctive WiFi-connected digital canvas, Meural Art Library (the world's largest streaming library of art and photography), smartphone app and web portal was developed to engage new audiences in digital art while creating additional revenue streams for creators.

NFTs are now enabling the promise of the digital art world. “By introducing digital scarcity to art and collectibles, NFTs and blockchain technology have granted new economic and creative powers to digital artists. NETGEAR supports this exciting development, and is committed to working alongside creators, collectors and enthusiasts to forge a licensing model that reflects their interests,” said Poppy Simpson, senior product & content manager for NETGEAR’s Meural product line. “Working with SuperRare Labs to develop a licensing framework that the RARE community can support feels like a spiritual alignment between our brands to build a broader, more diverse art and curation eco-system.”

“We're thrilled for NETGEAR to join the SuperRare DAO,” states SuperRare co-founder and CEO John Crain. “We believe that their expertise in building display technologies, licensing content, and streaming art will help us push forward as we continue to build an open and equitable future for digital art.”

Made for What Inspires You

Meural has been part of the NETGEAR portfolio of Smart Home products since 2018 and helps advance the company’s vision of a fully connected world. The premium digital Canvas can deliver a realistic art viewing experience that can be controlled via gesture, desktop, mobile app, or voice (Amazon Alexa). The Meural Canvas empowers users to interact with their art daily via its library of over 30,000 licensed artworks and acts as the best media distribution platform for displaying visual arts. The Meural platform frees NFT collections from the confines of digital wallets and allows owners to enjoy their purchased pieces on the walls of their homes or offices.

Designed as a marketplace to collect and trade unique, single-edition digital artworks, SuperRare ensures that each artwork is authentically created by an artist in its network and tokenized as a crypto-collectible digital item that consumers can own and trade. Coupled with NETGEAR’s Meural platform, the two brands are bringing to life a program that unites tech for today and the art of the future.

NETGEAR’s partnership with SuperRare is the company’s latest foray into the world of NFTs, following recent integrations with leading crypto wallets Coinbase and MetaMask and a partnership with Async Art to add dynamic, programmable NFTs to the Meural library.

Meural will also be featured in SuperRare’s pop-up gallery in New York’s SoHo neighborhood, bringing together well-known NFT artists and the larger CryptoArt community. Open through August 28, the SuperRare Gallery features a rotating program of five NFT exhibitions, some organized by the company’s in-house curatorial team, others by guest curators. Additionally, Meural will showcase approximately 100 works, curated by SuperRare, on the Meural platform as the new licensing model is worked out.

Read more about Meural and NFTs or connect with Meural on Twitter, Instagram and Facebook.

About NETGEAR, Inc.

NETGEAR® (NASDAQ: NTGR) has pioneered advanced networking technologies for homes, businesses, and service providers around the world since 1996 and leads the industry with a broad range of award-winning products designed to simplify and improve people's lives. By enabling people to collaborate and connect to a world of information and entertainment, NETGEAR is dedicated to delivering innovative and advanced connected solutions ranging from mobile and cloud-based services for enhanced control and security, to smart networking products, video over Ethernet for Pro AV applications, easy-to-use WiFi solutions and performance gaming routers to enhance online game play. The company is headquartered out of San Jose, Calif. with offices located around the globe. More information is available from the NETGEAR Press Room or by calling (408) 907-8000. Connect with NETGEAR: Twitter, Facebook, Instagram and the NETGEAR blog at NETGEAR.com.

ABOUT SUPERRARE

Founded in 2018, SuperRare is a pioneering, curated marketplace for digital art, built on the Ethereum blockchain. From the beginning, SuperRare has been empowering artists to take control of their work and in new ways to prosper – with more than $300M worth of NFT artworks bought and sold on the platform to date and more than $150M going directly to artists. Conceived around the concept of single edition artworks, SuperRare has opened the art market to artists and collectors around the world. And with the introduction of the $RARE curation token, SuperRare has continued to evolve into a community-led network of galleries with their own curatorial vision.

To learn more visit: superrare.com/rare.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220728005061/en/

U.S. Media Contact:

Valerie Motis

Valerie.motis@netgear.com

NETGEAR@AccesstheAgency.com

U.S. Sales Inquiries: (408) 907-8000, sales@netgear.com

SUPERRARE MEDIA CONTACT

Department PR

sarah@department-pr.com

Source: NETGEAR, Inc.

FAQ

What is NETGEAR's new partnership about?

NETGEAR has partnered with SuperRare to develop a licensing and royalty model for displaying NFTs on its Meural digital canvas.

How does the partnership with SuperRare benefit NETGEAR (NTGR)?

The partnership may create new revenue streams through innovative digital art engagement and licensing models for NFTs.

What technology does NETGEAR's Meural platform utilize?

Meural is a WiFi-connected digital canvas that can display a library of over 30,000 licensed artworks and NFT collections.

What tokens did NETGEAR acquire in the partnership?

NETGEAR acquired $RARE tokens as part of its involvement with the SuperRare DAO.

When will Meural be showcased in SuperRare's gallery?

Meural will be featured in SuperRare's pop-up gallery in New York's SoHo, open through August 28.