Creator
As a creator, you can list your NFT, define staking terms, engage in reverse bidding, and collect a royalty reward of up to 4% each time your NFT is re-sold.
The role of creators in the 7Pixels ecosystem is quite similar to that of other NFT ecosystems, except for a few additional advantages. Creators can use the tools provided by 7Pixels to mint their NFTs and put them up for sale or auction on the NFT Marketplace. While listing, the creator will define the minimum price or the offer price at which the NFT can be sold.
Once the NFT is listed, the creator will have an option to enable staking for a specific duration, so that the community can stake their tokens against the NFT. Those staking their tokens against an NFT are referred to as Endorsers, and their stake signifies the community’s support or approval of the NFT. The number of stakers and the total amount of tokens staked against an NFT will decide its valuation, enabling fair valuation for both creators and buyers. The NFTs will become available for bidding after the conclusion of the staking period.
The creator is free to decide whether to enable staking for their listing or not. In the event, the staking feature is not enabled, the NFT goes on sale or auction as soon as it is listed, and buyers can either make an outright purchase or start bidding on the asset.
The Creator Royalty Program is an innovative feature implemented by 7Pixels to enable creators to earn additional, continued benefits. The Creator Royalty Program allows creators to earn royalties whenever their creators are resold on the secondary NFT markets. The royalties issued are directly proportional to the NFT’s valuation at the time of sale, which could go as high as 4% of the selling price.
Last modified 1yr ago