Thank you for always using NEORT.
We recently released “NEORT Vessel”, NEORT’s first NFT project, and today, you can buy and sell NFTs on NEORT, our digital art platform.
This article will introduce some of the things that have changed as a result of this support.
Why NFT?
In a nutshell, it’s because we believe that NFT will continue to develop as an important technology for digital art.
In particular, the persistence of NFTs and the programmability of smart contracts are important elements for making digital art more interesting and widely distributed for a long time.
In that sense, this response is positioned to create a foundation for a better experience of digital art in the future.
For more information on NEORT’s thoughts on NFT, please take a look at this article.
“Background of NEORT starting NFT”
https://medium.com/neort/background-of-neort-starting-nft-832cc2428f8a
What you can do
With this support, users are now able to sell and buy works on Ethereum.
Both existing works and newly posted works can be sold.
Of course, you can continue to post and view your works without selling them.
NEORT’s mission is to create an environment where people can enjoy digital art, and NFT support is one of the ways to build a foundation for that.
About Sales
The following is a list of key points for sales.
- To sell in ETH, NEORT account needs to be linked to a wallet in MetaMask.
- No minting is done when the work is sold, so no Gas fee is required.
- Edition is 1
- Sales revenue minus 15% commission.
- Earnings are stored in the smart contract and can be withdrawn from the settings screen at any time (Gas fee will be charged for withdrawal).
- The royalty rate for secondary distribution is fixed at 10% (supported by EIP-2981 described below).
- If the work you sold has been purchased, you cannot edit or delete it.
About Purchasing
The key points in purchasing are listed below.
- NEORT account needs to be linked to MetaMask wallet in order to purchase works.
- When you purchase the work, you will be charged for the Gas required for the NFT mint.
About data
Data about the work is stored on IPFS.
※NEORT shows information stored on its own storage because IPFS takes time to download data.
What you get by purchasing the work
For many people, it may be difficult to see the benefit of purchasing a work with NFT.
It is true that the data is available to all users, regardless of whether or not they have purchased the work, and there is nothing special about NEORT’s NFT support that purchasers can gain.
However, their names will be engraved on the blockchain as the owners of the works, and they will continue to exist for a long time to come.
This means that the owner of the work can be represented across platforms.
NFT is still in its infancy, and there is a good chance that incentives such as experiences available only to owners will be designed in the future.
NEORT is also planning to create such experiences in the future.
At the moment, as a rule, buyers of artworks are given the right to exhibit them publicly.
For more information, please refer to the NEORT Terms and Conditions.
https://neort.io/terms
Royalties for secondary sales
NFT allows anyone to buy and sell data, and some platforms return a percentage of the revenue to the original author.
However, the way to achieve this is left up to the various platforms, and there is currently no common standard.
In this NFT support in NEORT, we have adopted the EIP-2981 standard to support royalty reduction.
EIP-2981 is a standard for royalties proposed by the founders of KnownOrin, and has been officially adopted in Ethereum as a standardized method for royalties.
However, this common standard also needs to be supported by various platforms and has not yet been widely adopted.
Even OpenSea, the world’s largest NFT marketplace, has not yet implemented EIP-2981.
Therefore, there is no guarantee that royalties will be returned to artists when NFTs issued by NEORT are distributed secondarily.
However, since this standard has already been officially adopted by Ethereum, NEORT supports it here in anticipation of its wider support in the future.
We will let you know if there are any updates in the future.
Future Prospects
Again, the NFT support is positioned as a preparation for creating a better experience of digital art in the future.
In the future, we will provide more opportunities for people to enjoy digital art.
As one of the concrete plans, we are planning to open a real gallery of NEORT in Tokyo this spring.
It will be an experimental real space provide interesting experiences of digital art incorporating new technologies, including NFT.
Please look forward to this spring.
Thank you for your continued support of NEORT.
Website: https://neort.io/
Discord: https://discord.gg/qBdrqFuDxu
Twitter: @neort_io
Email: support@neort.io
