How DeNations Art Chain Works

DeNations Art Chain

DeNations Art Chain includes major virtues of blockchain, such as decentralization, infinite connection, and scalability. Art series which share the same theme are issued as DeNations Art NFTs and grouped into one Art Block, only when DeNations Art Committee reaches a consensus.

Purpose of DeNations Art Chain

DeNations Art Chain seeks to build a sustainable ecosystem that enables talented artists to focus on producing their NFT artworks without worrying about complicated blockchain technologies and encourages both collectors and investors to easily purchase their high-quality and valuable NFT artworks.

What is DeNations Art Chain?

  1. A limited-edition of Art NFTs that are screened by DeNations Art Committee.
  2. DeNations’ token economy supports the value of Art NFT.
  3. Values are appreciated with time and public attention.

DeNations Artist

Artists who produce DeNations Art NFTs and participate in DeNations Art Committee.

DeNations Art Committee

The DeNations Art Committee consists of the DeNations Artists, the DeNations Team and the DeNations Community, and has two functions. First, DeNations Art Committee is able to select new artists who are responsable for the next Art Block through consensus. Second, the Committee is able to assign the Art Index of the next Art Block NFTs.

DeNations Art Block

As mentioned above, Art Block is a series of DeNations Art NFTs that share the same theme, issued only when the DeNations Art Committee comes to agree.

NFT Revenue Sharing Structure

Revenue Share Ratio

70% of the profits from NFT sales go to the artist, and 30% of it is used to run the ecosystem of the DeNations Art Chain.

DeNations Fund

To be concrete, we will use the 30% of revenue in three ways. First, 20% of our share will be distributed to those who hold Nation Ownership NFT that matches the nationality of the artist of each Art NFT. Artists can choose between their real world’s nationality and Metaverse’s (DeNations) nationality. The other 20% will be distributed to the nft owners of the previous block at a certain rate in the form of a ‘block reward’. The remaining 60% will be used for the Art Farming, platform development, marketing promotion, and token economy.

Block Reward

20% of DeNations Fund generated from current block NFT sales is distributed to the NFT arts owners of previous blocks. The Block Reward is designed to give incentives to two parties below.

1. Early NFT art collector: The collector who buys NFTs in the block will enjoy continuous Block Rewards for every block connected after the block.
2. DeNations Art Committee: In order to make the Art NFT of the previous blocks more valuable, the committee (including artists from the previous block) needs to recruit talented NFT artists and assign an optimal Art Index which will maximize next block sales.    

*Only Block Rewards of more than 10 USD are paid, and blockchain fees can be deducted from rewards upon transmission. Detailed policy will be announced later. 

Metaverse Properties

When owners register DeNations Art NFTs in the National Art Museum, they will receive a token reward(in DENA) depending on the Art Index and the registration time. 

For the first year of DeNations (until 2021 Dec 16), Minimum of 500 DENA/week (DeNation Fund may add more to the Art Farm) will be allocated to Art Farming. People will share the above amount in proportion to the registered Art Index & registration duration. Expected APR (Annual Percent Rate) can be calculated as below, assuming 1 Art Index = 1 USD value.

Registered Art Index
DENA Price (USD) 125,000 250,000 500,000 1,000,000
5 104.29% 52.14% 26.07% 13.04%
10 208.57% 104.29% 52.14% 26.07%
15 312.86% 156.43% 78.21% 39.11%
20 417.14% 208.57% 104.29% 52.14%
  • Earlier you register and higher the DENA price, more yield from Art Farming you can get.
  • Art Farming Beta will open from Jul 21, 2021.  Farmed DENA will be sent bi-weekly to the NFT Art owners who registered their NFT by paying registration fee.  Tutorial of how to participate in art farming beta will soon be posted on our medium blog.
  • National Museum v 1.0, which allows automatic Art Farming may be opened in 2021 3Q or 4Q.  

Art DGDP Boost

When owners register DeNations Art NFTs in the National Art Museum, the total DGDPs of the specific nation will be increased. How Art Indexes affect DGDP will be revealed in detail at the time of the National Museum release.

Art Index

  • Art Index is a quantified property of how valuable DeNations Art NFT is within the DeNations’ ecosystem. 
  • Initial Art Index is set by DeNations Art Committee.
  • Art Index affects Art Farming & Nation DGDP Boosting
  • Art Index can be increased as the level goes up.

National Art Museum

Virtual museum where DeNations Art NFTs can be registered and exhibited; each nation has its own National Art Museum.
The Art NFTs displayed in the national museum is exposed to users and receive public love and attention from users.

How The Art Index Increases

Level

The Art NFT's levels can be upgraded when Experience is accumulated. As levels go up, the Art Index increases. The level starts from 0.

Experience

Experience of an Art NFT is increasing as getting more public love and attention and as accumulating the registration time. When reached the maximum Exp point, the level goes up.

Experience Accumulation Speed per Day

A rate that NFT accumulated experience per day, when it is registered at National Museum.

Experience Accumulation Speed Boosting

Experience speed can be boosted by various factors such as art frame, exhibition slot of the museum.

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