Marketplace

The FROSTY marketplace is a concentrated content hub for all digital art assets. This marketplace will eventually serve as the core market for the buying, selling, transfer of creatively and technically optimized digital arts that can be taken by Collectors cross-platform—directly into games, VR, and even in your OWN house.

We are enabling and promoting content creation and supply, creating new access channels for democratizing our supply chain and increasing creativity.

Our marketplace positions Collectors as the key drivers to digital art content creation as they build up an interoperable wardrobe of identity-defining assets. Artists are able to ship content directly to the Collectors for purchase in the marketplace.

Auctions

Auctions on our marketplace are single-edition ERC-721 NFTs. The platform allows for verified whitelisted digital art artists to auction off their digital art illustration over a set time period to potential bidders. All files are hosted in IPFS. These illustrations are purely digital. Physical Version will be available as well in the roadmap of the project.

The Child NFTs are "accessed" through burning the master ERC-721 NFT.

When successful bidders acquire the associated illustration NFT they are also receiving a fully digital IP Assignment Transfer that allows the buyers complete rights and ownership of the digital art 3D illustration. Read more about our Licensing terms below.

All bids are on-chain and placed in BNB, where the highest bid is placed in escrow. There is a minimum bid increment of 0.01BNB. Reserve prices can be set for each auction.

Individuals that are outbid during the live auction event immediately have their funds returned to their connected wallets and their gas fees are paid by the out-bidder. All bidders remain anonymous and are only recognized by their wallet addresses. After a bidder makes a successful bid, they will have to wait 24 hours before submitting a bid withdrawal. Upon the auction end time, the auction will result to the highest bidder.

See our Open Sourced Auction Smart Contract here. // replace when done

Instant Buy

The instant buy contracts are first being introduced on the FROSTY marketplace under our Illustration Ownership concept. Collections of Semi-Rare and Common digital art can be bought on the marketplace instantly.

The same IP and licensing standards apply for our NFTs listed under the Semi-Rare and Common collections as in the Single Edition Auctions.

The listing price of each item is determined by the FROSTY platform

Licensing

The Open Digital Artistic License attached with these designs verify that the buyer has a license to the copyright of the 3D illustration and also means that our artists are legally prohibited from taking these auctioned illustrations and selling them through other platforms or using them elsewhere commercially.

The Child NFTs (ERC-1155s) that are issued from the platform do not incur the same full IP Assignment transfer. These are instead Open Sourced by the artists into the FROSTY platform to be used by the FROSTY Global Artistic Network. All Child NFT's maintain a standard royalty fee that is paid back to the original Child NFT issuer when a master illustration that includes their relevant ERC-1155 component is sold on the FROSTY platform. A buyer of the master illustration does not have the copyright to the Child NFT patterns, shapes, etc.

Fees

For auctions that are exclusively performed by the FROSTY Global Artistic Network a 12% protocol fee is taken. This will go towards the Protocol Reserve for growing and maintaining the platform.

For Auctions that are delivered as a part of the Illustration Ownership concept, the following fee split is applied:

Final Auction Sale Price	Digital Art Artists	Child NFT Issuer	Protocol Reserve	Artists Developer Ecosystem
Less than or equal to $1000	60%	25%	15%	0%
Between $1000 and $2000	55%	20%	15%	10%
Above $2000	50%	15%	15%	20%

Secondary sales of Parent NFTs on Treasure-land will grant the Artists a 10% commission on the total secondary sale market price.

For the Instant Buy sales, as a part of the Illustration Ownership concept, the following fee structure is applied:

Degree of Exclusivity	Digital Art Artists	Child NFT Issuer	Protocol Reserve	Artists Developer Ecosystem
Semi-Rare	60%	18%	15%	7%
Common	58%	16%	15%	11%