Drawing
Prize draw
Last updated
Prize draw
Last updated
The artist creates a collection by releasing a series of NFTs, each token in the collection is priced and given a value of rewards for collectors from the entire pool. A drawing function has been added to the Polygon smart contract.
The system will soon be launched in the smart contract on the Polygon blockchain, which will pay out $ART rewards (an erc20 token) to collectors’ wallets that were used to purchase NFTs. This means that buyers of NFTs participate in the drawing and receive $ART rewards for purchasing NFTs. The system operates automatically without human involvement.
Both main and intermediate rewards are drawn and paid out for participating in NFT purchases.
Rewards are drawn by the smart contract each time and all wallets that have purchased NFTs in the collection participate in the drawing. (The first wallet that purchased an NFT has the most chances of winning multiple rewards).
The main reward is drawn at the time of the sale of the last NFT in the collection. The pool of intermediate rewards is 60% of the total reward pool.
The amount of the main reward is 40% of the reward pool plus a 2% fee on each NFT transaction on the secondary market.
All wallets that have purchased NFTs in the collection participate in the drawing.
We will describe the full description of the functions after testing on the Polygon blockchain.
