# 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](/aerariumchain-docs/aerariumchain-aec/nftmicro-tm/reserve.md)

### 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


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