Minting Process
SpacePath Marketplace will utilize a new minting process in which artists will upload images before a deadline each week. After the deadline, the SpacePath community will have a limited amount of time, 48 hours, to vote on their favorite posts. After 48 hours has passed, only a certain amount of the highest voted NFTs, the specific quantity decided on by the DAO, will be minted on the Polygon Network free of charge. The new NFTs will then be put up for auction and sold to the highest bidder.
The rest of the week will be dedicated to featured drops and the resell market. It is important to note that any artist will be allowed to post images to our website, but only the top voted pieces will get minted. The art that does not get minted will be removed from the site and the artist is free to re-enter the next week’s voting process. Artists will get 100% of their profits and 10% royalties from future sales.
Proposed Weekly Schedule
We intend on using the following schedule for minting NFTs each week:
Wednesday 12:00pm EST: Deadline for artists to upload media for voting. Voting period begins
Friday 12:00pm EST: Voting period ends. Top voted NFTs will be minted and enter the auction process.
Sunday 12:00pm EST: Auctions for newly-minted NFTs will end and NFTs will be transferred to new owners.
Sunday after 12:00pm EST – Wednesday before 12:00pm EST: This time will be dedicated to select featured drops voted on by the community and to the resell market.
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