Uses of Fund
Last updated
Last updated
The scope of NFTMicro™ is narrowed to a specific purpose: the preservation and fruition activities related to the artworks for which the NFTMicro™ have been issued.
The NFTMicro™ funds collected by the artwork owners (Museums and Foundations) from:
1. Sales on the Primary market
2. Fees from secondary market transactions
will be used in the following way:
The release of funds will change according to the enforcement stage of NFTMicro. First NFTMicro™ released will be in Batch 1, after the initial issue all new NFTMicro™ will be issued in Batch 2.
Funds collected from NFTMicro™ issued in Batch 1, will be released on the Museum wallet with no release lock. All artworks in Batch 1 will be monitored through the AEC monitoring service.
Funds collected from NFTMicro™ issued from Batch 2 will be released on a locked wallet where funds release will be regulated by a smart contract and a mediation from the AEC governance and monitored through the AEC monitoring service.
Funds released on the locked wallet will be coupled with a stablecoin and invested on DEFI to generate investment return for the network. The investment return will be managed through the generation of the Utility token.
