Fandom NFTs (Fan Works)
Future Phase
In addition to the fractional ERC1155 shares (FAVEs), Favrr allows users to create original content and mint it into an ERC721 - a collectible NFT. Any NFT relating to a celebrity (or any fandom) share can engage the fan user base already on Favrr and a sale of the collectible will, in the future, , but also income for its creator. There is no limit to the royalty fee added to collectible NFTs, however, as that fee is charged on top of the posted sale price, huge royalties may discourage buyers, so a natural free-market balance is achieved. Let’s give an example:
User A holds a Madonna stock NFT.
User B creates a gif Fandom NFT with her Super Bowl performance and sets a 10% royalty fee.
User B sells their Fandom NFT for 100 $Favrr. A 2.5% charge is levied on the buyer (User C), 1% of it goes to all Madonna stock NFT holders, including User A.
User C then sells the Fandom NFT for 1000 $Favrr. The final price is 1125 $Favrr - 100 $Favrr in royalty fee and 25 $Favrr in marketplace fee. The 25 Favrr are again distributed between Madonna stockholders (User A), while the 100 Favrr of royalty fee go to User B.
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