Token Design

To solve the requirements AEC has designed NFTMicro, with the following feature:

• Every NFTMicro™ represents an artwork and is strictly connected with the UVI NFT of the Artwork;

• NFTMicro™ of different artworks are NOT fungible;

• NFTMicro™ of the same artwork are fungible;

• NFTMicro™ are fractioned in number of thousands or multipliers of 10;

• NFTMicro™ has a process to define the value that starts from the artwork value;

• NFTMicro™ are directly connected to the original artwork through a certified process where the UVI NFT is the key connector;

• For every artwork it can be generated only one NFTMicro™ once on its life

• While an NFTMicro™ has been generated, no similar NFT can be ever generated on other platforms

• Only owners of artwork rights can ask to issue NFTMicro;

• Only a maximum percentage of all the NFTMicro™ issued for every artwork can be sold (20%);

• The remaining % that cannot be sold has to follow the ownership of rights;

• For every NFTMicro™ issued 5% has to be transferred to the AEC reserve fund

The NFT standard:

• NFTMicro™ are issued according to ARC-69 Algorand L2 standard

• NFTMicro™ ruling is controlled by a smart contract that can be updated by the regulatory Governance

Fees from NFT

The fees collected from NFTMicro™ are the following:

Third party providers:

• Payments with Credit card

• Bank transfers

• Crypto to FIAT conversions

Marketplace fees:

NFTMicro™ can be sold on AEC marketplace or on third-party marketplaces. Every marketplace can declare and apply its own fees on the sales.

Blockchain fees:

Algorand transaction costs (0,001 Algo per transaction)

NFT Micro transactions:

Sales on primary market: no fees at the moment

Sales on secondary market:

• % royalties on the transaction price to Museum: to continuously support their mission.

• % royalties on the transaction price to AEC: for its role as oracle of the blockchain