Uses of Fund
The scope of NFTMicroâ„¢ is narrowed to a specific purpose: the preservation and fruition activities related to the artworks for which the NFTMicroâ„¢ have been issued.
The NFTMicroâ„¢ 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 NFTMicroâ„¢ released will be in Batch 1, after the initial issue all new NFTMicroâ„¢ will be issued in Batch 2.
Batch 1
Funds collected from NFTMicroâ„¢ 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.
Batch 2
Funds collected from NFTMicroâ„¢ 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.
After:
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.
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