There's a fact, VFTLAB and M4L will be the best place for musicians within the HIVE ecosystem. And there's another fact, we are gonna introduce a service in VFTLAB that will consist in:
An interested musician (even with low knowledge about NFT) looks for:
a) A place in which music lovers can appreciate his art
b) A place in which he can sell his art
c) A place in which he can create NFTs of his art
So VFTLAB is offering you a service in which after an initial interview and we will ask you all the media required for this, we are gonna mint the NFT of your songs, use VFTLAB as a music store for them, and then distribute them after someone pays for it. (like a marketplace including the personal service of minting the NFT).
We were thinking, and well obviously is your art!! You can mint NFT with us, NFT with another platform without problems, we cant ask for exclusiveness but would be appreciated if for example you add in your cover art our logo or you add a little art image especially for us(because the NFT can have more than one just image ). its, not a must just would be cool.
This is an excellent example of how would look a MUSIC NFT, and only your imagination will be your limit.
From our side obviously only the NFT that have been created through VFTLAB (or partners) will be included in our future projects.
Well in this first part of governance you can write here or on our discord in the #poll channel, proposals for the Service fee. Basically, VFTLAB is minting and distributing.
¿Why fees? well, the process of whitelisting needs to be made by humans so surely we will be hiring someone for doing it. Actually is not a big cost, but is added to our current expenses. Also, we will use a % to buy and burn and of course keep innovating! Our business model as you see is based in a long tail strategy, we are creating a lot of cool things with low fees to keep doing more cool stuff!! is a win-win, this creates value for the ecosystem.
Personally, I would suggest a minimum of 1% of the sale price and a MAX 4-5%, is better to have a lot of sales with low fees rather than a few ones with crazy taxes. And really personally I would vote for a 3%. This same % will be applied to the atomic hub collection fee.
We are preparing the first post about our burning event, it won't be periodically as sometimes the market is crazy.. like today!!
