NEA is a metaportal, which facilitates the market entry for new emerging artists through revenue share tokens and provision of a dividend pay-out for investors through a % share of annual NFT sales conducted by the artists. NEA offers investors the opportunity to foster an artist’s potential from an early stage, contribute to their future success and add value throughout the process of gaining market value and industry significance. We enable the tokenisation of an artists brand, which allows the artist to receive a monthly reoccurring payment, which serves a secondary income stream next to his/her general NFT sells conducted.
The project is based on the Rarible Starter App, which not only is very helpful in speeding up the bootstrapping, but also provided us a lot of functionality we will more closely integrate later on beyond the hackathon. For now it allows the artist to (lazily) mint his NFTs and also transfer/sell those. Our goal is to use smart contracts to automatically pay out a share sell income to investors, but this is beyond the scope of the hackathon.
Currently the artist is able to manually perform payouts to the investors instead. For that we use the Superfluid Instant Distribution Agreement, where a pool is created for each artist.
As an investor invests in the artist, a Superfluid stream transfers the amount over time using the Constant Flow Agreement. The amount invested that way determines the investor's share of the artist's brand. With that, it determines the share of the amount which the artist pays out to the investors.
It is worth noting that all of that is implemented within a smart contract, rather than using the JS-SDK. This was also the biggest challenge, as the documentation so far seems to favor the JS-SDK approach :). We are very grateful for the impressive support of Fran from Superfluid though, wich helped us resolve most of our issues, and pointed out valuable resources. 'Most', because unfortunately not all of the functionality is working in the prototype, as we unintentional used a feature that has not yet been deployed by Superfluid.
The smart contract handles all of the transactions, and is deployed per artist by a dedicated smart contract.
We use MetaMask to ensure an approachable way for our users to interact with all of the services, which is a high priority to us.
While there is a lot left to be done, we are really happy to be able to show a proof of concept of more features than we initially expected. We are now confident we can put the finishing touches on the app and complete implementing the features so it can be released to the public in the near future.