Font.Community — NFT Based Decentralized Font Marketplace.
We see a lot of font marketplaces like FontFabrica, Envato, CreativeMarket, FontShop, etc.., All works on the same business model. The buyer on the one end and sellers on the other end. In the middle, these companies make a profit with hefty commissions. Almost all centralized marketplaces work the same way. Middle-men get a huge commission.
Problem
If you see any centralized marketplace commission structure, it goes between 20–70%.
Let us assume, the “Marketplace X” fixes the commission of 40%, the seller needs to raise the price by 66.67%. And buyers have to pay that 66.67% extra premium.
If the seller has the font called “Premium Roboto” and he expects to earn $10 on each font sale. Seller forced to add $6.66 (66.67% of $10 which is 40% of the exchange commission) which makes the price of the font to $16.67.
Now, the buyer is forced to pay a 66% premium price or drop the idea of buying the overvalued font. Or Sellers have to reduce the price dramatically and end up making less profit.
Low profit for the seller, less value for the buyer, and hefty commission for middlemen.
What could be the solution?
The solution is lowering the marketplace’s commission %, so sellers fix the price low which drives more sales and still makes a profit. And give more options to sellers to monetize their fonts from other than license fees. Since centralized marketplaces are here to make a profit, they won’t do that.
We need to take the power away from the centralized marketplaces. But how to do that?
Introducing Font.Community.
Font.Community is a Decentralized marketplace for Fonts, where creators, sellers, buyers, and font users own the marketplace. Here there are no middlemen and no hefty commission. It is completely owned and controlled by the Community, by its users.
Since commission will always be a maximum of 4%, sellers can sell fonts at a low price, drive more buyers, and still make a good profit.
Also, with Font Community, It is not only about buying and selling fonts. There are multiple ways for font creators/sellers to monetize their font. For example, you can borrow money against your fonts, Earn interest by locking fonts, Raise funds for your next great font via crowdfunding, Sell font ownership, Tokenize your fonts, and much more.
All with help of the ethereum blockchain, fonts are NFTs(Non-Fungible Tokens / ERC1155) and DeFi Enabled and community governed by DAO.
Fare marketplace:
Finally, a marketplace where commissions are 4% or less. There will be no barrier for creators to upload their creative work. The first marketplace without middlemen and owners are font creators, buyers, and sellers. The commission fees are shared with all shareholders of the font community.
Transfer ownership:
Since Fonts are NFTs, font creators or owners can transfer the ownership for good money. The new owner will receive the license fees. This drives more creativity and activity around fonts.
Font Auctions:
Since most font creators are not crypto-savvy, Font.Community will conduct periodic Font auction events where speculators will bid the font ownership. It helps font creators to make one-time big money. Also, this will drive more creativity around the fonts.
Tokenize fonts:
By issuing tokens against the font, owners can sell a portion of their fonts for some quick money. Based on the holding, holders will receive the dividend from license fees. By distributing the font ownership to multiple owners, they all help your font’s sales go up.
Borrow Money:
If font owners need urgent money but don’t want to sell their font ownership, they can collateralize their fonts and take a loan. The license fee earned during the loan period will go to the lender. Loan amount decided by lenders based on the past earning report and potential future returns for the font being collateralized. Whenever the owner pays the principal with interest, he can get back the font ownership.
Since there is a potential license fee earning opportunity during the loan period, lending money against font is a novel idea.
Earn Interest :
Font owners can lock their font and earn interest. During this lock time, the license fee earned will be lent in DeFi Protocols and interest will be paid to font owners at the end of the lock period.
Raise Fund:
If you want to launch the next big font and want to raise money for the same, you can raise money from the crowd. Similar to ICOs, Font.community offers IFO(Initial Font Offerings). The font will be tokenized and presale to believers and speculators.
Font Mining:
Since the whole platform is run by the community. Everyone earns $FONT tokens based on their contribution. For example, If the creator uploads the font, He will get the $FONT token. The more font he uploads more tokens he gets. 50% of the total supply (1,000,000 $FONTs) are allocated for mining.
Here is the comparison table against existing font marketplaces. We already onboarded more fonts than Google fonts and Adobe Fonts.
Conclusion:
Fonts are DeFi enabled NFTs, Marketplace governed by DAO.
Font.Community aims to change the entire font marketplace. If you see this in the whole picture, the features are highly radical and futuristic. This will be the future of not only the font marketplace but for any marketplace.
Do you want to pledge investment, share ideas, help onboard font creators, or make inquiries:
You can use this form: https://forms.gle/1aopS1FPcQva7Tn27
More info: Font.Community | Twitter | Discord | Telegram
