Fundamentally Transforming The Value of NFTs
DeFi or decentralized finance may be a priority stage if it does not require the application of blockchain technology within conventional international finance. DeFi’s central premise rejects the centralized nature of ordinary economic institutions and banks, with DeFi structures and developers working to recreate the standard financial infrastructure on non-software centralized or peer architecture.
Many of the most prominent limitations that developers and traders face are issues such as smart deal loopholes, governance, consumer mistakes, scalability, capabilities troubles. Interactive. Most of the recent NFTs projects that have appeared recently do not show that they have a plan and are well-prepared, this trend is creating a lot of fever in the market in which it is happening. And in this article I want to share with you about a project that I have followed in the pastime and indeed the potential of this project is extremely great, now please join me to find out details about it.
HUP.MARKET is the world’s first platform enabling socially conscious artists to mint and sell Copyright-Enabled NFTs (ceNFTs) through a framework complying with international copyright law and securities law. Five percent from every sale, re-sale and licensing deal of a work is donated to a charitable organization selected by the artist at the time of minting. And if a work is sold to a subequent purchaser, another five percent of every re-sale and licensing deal is rewarded back to the artist as compensation.
Let’s take a look at our basic user flow of our platform to identify how we weave our unique solution together.
1. First, an artist visits HUP.MARKET.
2. The Artist clicks on “MINT” and connects their BSC-compatible wallet through Metamask — no email or password password required.
3. Identity & Nationality/Residency Verification.
4. National NFT Pre-Launchpad.
5. Uploading the Artwork. Minting will occur when the artist uploads the image file to the Platform. The artist will confirm they were in that jurisdiction when they created the artwork, and a cursory algorithm-based image recognition check determines whether the work or any of its parts have appeared online previously. Any uploads that meet the algorithm’s threshold of a match will not be permitted to be uploaded.
6. Minting the ceNFT. If a work passes the cursory image recognition check, a Copyright-Enabled NFT (ceNFT) is created on the BSC blockchain which contains a hyperlink to the work’s listing page on its respective National NFT Pre-Launchpad, resolvable through the centralized ICANN top-level domain (.ca, .co.uk, .jp, etc.) as well as the decentralized DNS service.
7. 30 Days on the National NFT Platform. For the next 30 days, the work is displayed exclusively on the National NFT Pre-Launchpad. This is to comply with the Berne Convention, an international agreement which requires that a work be “first published” in a signatory country for 30 consecutive days without publication in any other country, so that that country can be deemed the work’s sole “country of origin” — to the exclusion of all other countries.
8. The National Experience. Browsers (what we can non-artist users of HUP.MARKET) can create a profile on HUP.MARKET. Simiiar to artists, they will also have to verify their identity via Blockpass and confirm they currently reside in that jurisdction.
9. Wide Network Authentication. Browsers granted access to their country-specific National NFT Pre-Launchpad will be eligible to receive rewards if they act as Evidence Providers and find evidence that a minted work infringes on a prior work. Any purported evidence will be forwarded to all other Browsers of that particular Pre-Launchpad, who will have a 1 day period to vote on whether the evidence supports the underlying art as being a rip-off (Consensus Mechanism voters).
10. If a work hasn’t been determined to non-compliant by the Consensus Mechanism, then after 30 days it will be published on the internationally-accessible HUP.MARKET platform. The image file will be uploaded and posted to the item’s listing page on the HUP.MARKET platform, which itself will reside on a decentralized cloud file system protocol built on blockchain technology. And the image file is also uploaded to Arweave, a resilient, decentralized file-system based on a blockweave design in which uploaded files are permanently kept in existence.
11. The Ghost NFT. At this time another non-fungible token called the Ghost NFT minted to BSC. A Ghost NFT represents ownership of the entire bundle of copyright of the art underlying a ceNFT. If a particular wallet holds both a ceNFT and its corresponding Ghost NFT, that entity is deemed by the blockchain to control both the ceNFT and the underlying bundle of copyright of the artwork the ceNFT represents. The Ghost NFT contans a hyperlink to a non-modifiable JSON file containing the address/hash of the corresponding, previously-minted ceNFT, details of the artist and the work’s country of origin, and a hyperlink to a resilient, immutable image file depicting the underlying artwork
12. International Consensus Mechanism-Modulated Validation. For a period of up to 3 days after a work is added to HUP.MARKET, Browsers from over 90+ countries can submit evidence that the work infringes the rights of 3rd parties.
13. Licensing Module. An exciting part of our platform is our Licensing Module, which is built on Ricardian contract design principles and allows an artist (or a work’s subsequent copyright owner) to licence the copyright of the underliying art, on a non-exclusive basis, to interested third parties.
14. Disputes. Whether as between two parties that are already members of the HUP.MARKET platform or as initiated by a third party, we intend to provide virtual, AI-facilitated mediation sessions between parties at no extra charge as an alternative to launching lawsuits — which we all know can get expensive fast.
15. Off-Chain Transfers and Licensing.
16. Enforcement. HUP.MARKET will automatically track any detections copyright owners have submitted a DMCA notice about, and will update them when the particular host has removed the infringing content.
In addition to our charity wallet, community members can also view the transaction wallets of each of the nine specific, team-managed wallets, namely:
See how we stack up against any of your favourite meme, animal or charity projects.
April 2021: Hire Marketing Team
April 2021: Hire Compliance Officer
May 2021: Begin Comprehensive Marketing Campaign
ACTIVE NOW: Community Bounty Campaign with Bounty0x
By June 15 2021: Smart Contract Audit & Redeployment
June 15 2021: $HUP Token Launch — PancakeSwap
Q3 2021: Strategic Partnership Announcements
Dec 1 2021: Launch NFT Marketplace (HUP.MARKET)
It can be said that this project is one of the most promising projects for the coming time, I see them have a very effective marketing program to attract people, but in reality, they are and will provide. We have a good ecosystem in this space, there is no doubt that this project will soon be a familiar name in the market soon.
For more information, visit the UnitedCrowd project social media: