We are proud to present our main product, “The Unifty Gallery.” As the name suggests, The Gallery is a reinterpretation of how traditional art galleries become digital. It’s not just a paradigm shift in the way art is displayed. but more than that is how to make money from that art And what does the value of art bring to both creators and art lovers?
We put the original idea behind The Gallery in a previously published litepaper. and named it “Unifty Exhibition Program”. Although “The Gallery” has a basic design that is not different from the Unifty Exhibition Program, The Gallery has undergone extensive improvements to meet every need. of both creators, collectors and fans who love to enjoy art
need
The Gallery reinvents the business model of traditional art galleries. For example, the big disadvantage of the issue is little protection or insurance for artists. both in terms of sales and increasing costs for artists Of course They share the difference that they and the artist can get. But they collect more money: a commission that can be as high as 50%.
Needless to say, the traditional business model in the art industry is tied to the interests of gallery owners. And we believe that our new business model It will create a more powerful balance for artists and fans.
troubleshooting
The Gallery provides artists with a fixed income. Artists sell NFTs to collectors through “Exhibitions,” but even if they are not sold, Exhibitions create an opportunity for artists to earn money through displaying NFTs to admirers and buyers around the world.
The benefit of this business model is that it eliminates the risk artists may lose when exhibiting in a gallery. Instead, we’ll turn that risk into the artist’s earnings through community showcases.
Exhibitions also come with additional profits if artists sell NFTs during the Live Exhibition, and artists will always receive a return on NFT sales throughout the 30-day Exhibition.
The Exhibitions also offer other benefits to $NIF token holders from the launch of our Community Governance Program. $NIF token holders are eligible to participate. Vote to be part of Unifty’s future decisions on both the release of new products. to adjusting the $UNT reward mechanism, or even approving which Exhibitions are eligible for the $UNT reward.
With the release of The Gallery and Exhibitions, $NIF token holders receive a value capture mechanism as a reward for holding $NIF by “backing” their favorite artist or collector. And also get a percentage of the $UNT tokens allocate to the Exhibition in return.
In conclusion, how will these “rewards” be awarded?
Unifty is leveraging a model of both tokens previously mentioned in the litepaper to reward participants. And for Exhibition owners, they will receive returns or earnings via Unifty Network Token with ticker of $UNT.
The $UNT token design has never been sold as an IDO. As outlined in the litepaper, the maximum number of $UNT tokens generated on our farming algorithm is: 1,000,000,000 It is allocated pro-rata between Exhibition owners and $NIF holders who choose to “back” by stake or allocate $NIF to the Exhibition. No tokens are allocate to teams or pre-allocate to investors. Only platform participants can get all $UNT tokens. The only $UNT token currently available is 10,000,000 tokens that community members farm during the initial staking vault.
The remaining 99% of supply will be distributed evenly through Exhibitions in The Gallery using our farming algorithm. We’ll delve into how Exhibitions work and what they can support our $UNT reward algorithm.
process
We design our work development process to be efficient for artists, collectors and similar organizations. The process will begin with pre-approval from Unifty’s curatorial committee for the selection of Exhibition applications as well as evaluating NFT submissions submitted by the Exhibition owners. Initially, the curator committee consisted of Unifty’s only team, but eventually led the com-members. A community that is elected and meets the requirements that will be finalized in the near future.
The process of developing each type of work in the Exhibition in the beginning has all the same steps as follows:
- Applicants must complete an online form regarding their previous work. social media profiles and collections to be exhibited These applications will be assessed by a committee of curators.
- Once the curatorial committee has approved the initial application Applicants will be exhibiting in the Exhibition with The Gallery, but the timing is uncertain. Subject to final approval from the Community via Community Governance Program Votes.
- Once approved applicants will receive a limited number of invitations to share with friends, artists, collectors or organizations.
- after this step Owners can set up an Exhibition profile within The Gallery and include information about themselves. social media profiles including the NFT collection.
- Up to this point, artists will need to use the following 5 steps to score an exhibition with the purpose of farming $UNT:
- NFT collections go through an evaluation process between owners and a committee of curators to determine equal market value for each NFT, as well as the extension of their entire collection.
- Exhibition owners must complete Unifty missions to demonstrate their commitment to the community. These missions include promoting our social media profiles and products. More details on these missions will be announced in the next article.
- At this point, an Exhibition vote of $NIF token holders will be held to obtain final approval of their eligibility to award $UNT with an offer through the Community Governance Program.
- If the offer is successful, the official “pre-staking” period will be open for 72 hours in which $NIF holders can stake in the Exhibition. After the pre-staking period, $NIF tokens will not be allocated to the Exhibition. is no longer, and the amount of $NIF tokens staked will also be taken into account in the Exhibition score.
- Finally, the algorithm will also take into account the $NIF staked in the Exhibition, how many individual stakers there are. It will only be good for exhibitors in the Exhibition.
- at this point Creators, collectors, or corporations are eligible to stake NFTs into an Exhibition smart contract and get rewarded in $UNT.
The aforementioned five-step assessment process determines the final score. Based on the $UNT reward algorithm for assigning rewards to each Exhibition, this score determines the amount of $UNT to be allocate to the Exhibition in return for owners and holders of $NIF staked, with a spreadsheet displayed. The scores of each exhibition include the weight of individual works for everyone to see.
pre-staking period
There will be a pre-staking window for community members to decide which Exhibition $NIF to allocate, a window that will be active 72 hours before the Exhibition is published. No more exhibitions can be given for 30 days.
How Much $UNT Farms Per Month?
1,000,000,000 $UNT tokens will be generated. only per month The mint table is shown below:
Month 1: Generate 50,000,000 UNT Tokens
Month 2: 47.5 million UNT tokens generated
Month 3: Generate 45,125,000 UNT UNT Tokens
Month 4: 42,868,750 UNT Tokens Generated
etc.
At launch there will be 9 Exhibitions competing for $UNT prizes, and the more $UNTs are generated the more. The competition will inevitably increase accordingly.
How long will the exhibition last?
Initially, The Gallery will launch 9 exhibitions and after that it will be around 6 to 10 exhibitions every month.
Each exhibition can be held for a maximum of 30 days.
If an exhibitor wishes to continue exhibiting with The Gallery, a new collection must also be voted on by community members who hold $NIF.
So how much money will you get?
1. Artist A will receive 15% of the $UNT tokens farmed, which will be granted daily for 6 months after the exhibition is completed, e.g. Artist A has an Exhibition held for 30 days during this period. A will receive 1,000,000 UNT which will be granted every day within 6 months after the Exhibition ends.
2. Collectors and Enterprises will be entitled to purchase 15% of their farmed $UNT Tokens at a discounted price from the average market price for the last 7 days from the moment the $UNT is earned.
3. The $NIF stakeholder will be entitled to purchase 85% of their farmed $UNT tokens at a discounted price from the average market price for the last 7 days from the moment the $UNT is earned.
We will release the complete document later.
In the end, in terms of revenue, all exhibition owners are required to pay a commission of 15% on the total sales in the exhibition, with these funds being sent to their wallet. multi-signature that is supervised by the Community Governance Program members.
Finally…
As a summary mentioned in “The Only Constant is Change,” we take traditional ideas from both the NFT and DeFi industries to reshape the creator economy. We focus on our mission and bring together a great team to create a new generation of production that empowers all job creators and community members to create. Fair earnings from their work and interests The Gallery is our first effort. and will become the main product But it certainly won’t be the last. We know you’ve been reading this article for a very long time. but as an author We still hope you enjoy it. Thank you for reading until here. We look forward to you joining us on this journey!
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