CONCEPT OF PROJECT
A portal will be created for the sale of NFTs on Cardano (CNFTs). The name of the portal is NFTHUBS.IO
The portal will have a variety of different categories such as painters, writers, photographers, 3D artists but also other relatively new categories to the world of NFTS such as Instagram influencers or athletes.
A verification mechanism will be created to check the identity of everybody who would like to sell on NFTHUBS.IO
Each potential producer of content will be offered a space to tell the story about themselves and their work with written text and images.
The content producer will be approved, send a selection of his material to NFTHUBS and a decision will be made on which material to choose for sale.
Additionally, other conditions such as quantity, time-period of sale, or launch date will be decided in common agreement with the content producer.
Furthermore, each project will have a donation attached to each NFT that gets minted. Namely, a donation of 5% off the sale value to an in-house charitable program Thought 4 Food or other program selected by the content producer
The producer of content will receive 80 percent of the proceedings of the sale.
Payments will be made in ADA, using smart contacts and dEX's
An option to receive payment in FIAT will be developed
NFTHUBS shall receive 20 percent of the proceedings of the sale, of which 25 percent (so 5 percent of the total takings) will be destined to the charity project.
NFTHUBS will initially send funds to the current in-house charity project of Hotel Ginebra in Barcelona as operations are already ongoing.
All Thought 4 Food operations are currently managed by partner Nazmul Biplop.
This entails organizing food drops on the ground in Bangladesh, record keeping, auditing, and quarterly presentation of expenses.
Smart contracts will be deployed to automate the above processes.
Over time other charity programs will be developed in-house and collaborations will be created with existing charity programs.
One idea is to create or link to charity programs that give financial and add structure to artists in developing countries.
Initially, the 15 percent proceedings which are destined to NFTHUBS offers are to be stored in the company’s treasury.
Part of the funds in the NFTHUBS treasury will be re-invested in the growth of the platform to a global audience of buyers and content producers
Takings and expenses will be calculated quarterly and a report will be issued to the shareholders of the company
Treasury funds will be staked in various pools to help decentralization of the Cardano network as well as to earn estimated dividends between 4 and 5 percent annually.
Dividends will be paid out to shareholders of the company annually.
Marketing of the project will be through our various social media channels. Including interviews on podcasts.
Offshoots of NFThubs will be decentralized to specific countries to showcase up-and-coming artists within their native language.
NFTHUBS is a multi-language portal
TECHNICAL SET UP
The financial structure of NFTHUBS will be in large part ruled and automated with Cardano smart contracts, such as Marlowe.
Initially, 100 percent of funds will be sent to the NFTHUBS payout address.
From there 80 percent will be directly sent to the ADA address of the content producer.
5% will be sent to the dedicated wallet of the Thought For Food Project and 15% will be sent to the wallet address of the NFT Treasury
The Thought For Food charity will have its treasury which again will be running on smart contracts
THOUGHT 4 FOOD PROJECT
Initially, charity events will be published on https://cardanohubs.com/charity/
A dedicated THOUGHT 4 FOOD website will be created in substitution of the above webpage
Thought 4 Food will have a Donation Wallet Address to which charity revenues are deposited.
As soon as funds arrive on the Donation Wallet Address smart contract actives which send 50 percent to a NOW address and 50% to a FUTURE address.
(FUTURE addresses will be time-locked for 50 years)
A Thought 4 Food stake pool will be set up to which both the NOW and FUTURE address will delegate to earn rewards.
The Thought For Food project will financially and legally be an independent entity, separate from NFTHUBS
The team leader of each charity will have custody of a wallet that will hold the redemption NFTs
Access to funds will be regulated with the use of NFTs so funds can be withdrawn