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Title: Token creation for a physical object Post by: ttookk on May 26, 2016, 10:51:44 PM Hello,
I wasn't sure whether or not to discuss this in this forum, since it is a pretty niche case, but I think, I'm just gonna go ahead. Mind you, at this point, this is just an idea, I have not the slightest clue if I will actually try to make it happen. So, here it is: I am thinking about crowdfunding an art project. Now, there is of course the question, whether it is even possible to fund an art project, especially since the thing I am planning to work on will be a big sculpture, thus limiting it to one location. I could and would plan to give out merchandise like prints and sketches to backers, but it would be still a hard thing to pull off (apart from movies and games, i am not aware of an art project that was successfully funded). However, that is, in this case besides the topic. I would like to make a "traditional" crowdfunding, i.e. going with the traditional sites, collecting mainly fiat money and not specifically adressing the crypto community. But i would like to issue tokens, that are given to backers. These tokens are supposed to represent two things: 1. A share of the work itself, i.e. partial ownership of it 2. Voting rights regarding questions about how to proceed with the work, e.g. where to show it. I would plan on keeping half of those tokens(maybe less), firstly to have enough voting power as long as the object itself is in my hands (effectively giving me a "veto"), and secondly to sell them, should a buyer be willing to buy the physical object itself. Now, the potential buyer would obviously need to buy tokens not only from me, but from other holders as well. I would even go as far as letting the physical object only go to a buyer, who has bought up 80% of all tokens. Now, I don't really have any specific questions to ask, except for the general question, whether or not you think that those tokens are at all feasible or necessary. I would of course bind myself to the rules I made, but since the object is centralized by design, holders would have to trust me. Oh, and one other question: What kind of platforms would make this kind of token creation possible? I think Waves, of course (yeah, signature, I know ;) ), but what else? Nxt? Title: Re: Token creation for a physical object Post by: dsattler on May 27, 2016, 06:21:24 AM Hello, I wasn't sure whether or not to discuss this in this forum, since it is a pretty niche case, but I think, I'm just gonna go ahead. Mind you, at this point, this is just an idea, I have not the slightest clue if I will actually try to make it happen. So, here it is: I am thinking about crowdfunding an art project. Now, there is of course the question, whether it is even possible to fund an art project, especially since the thing I am planning to work on will be a big sculpture, thus limiting it to one location. I could and would plan to give out merchandise like prints and sketches to backers, but it would be still a hard thing to pull off (apart from movies and games, i am not aware of an art project that was successfully funded). However, that is, in this case besides the topic. I would like to make a "traditional" crowdfunding, i.e. going with the traditional sites, collecting mainly fiat money and not specifically adressing the crypto community. But i would like to issue tokens, that are given to backers. These tokens are supposed to represent two things: 1. A share of the work itself, i.e. partial ownership of it 2. Voting rights regarding questions about how to proceed with the work, e.g. where to show it. I would plan on keeping half of those tokens(maybe less), firstly to have enough voting power as long as the object itself is in my hands (effectively giving me a "veto"), and secondly to sell them, should a buyer be willing to buy the physical object itself. Now, the potential buyer would obviously need to buy tokens not only from me, but from other holders as well. I would even go as far as letting the physical object only go to a buyer, who has bought up 80% of all tokens. Now, I don't really have any specific questions to ask, except for the general question, whether or not you think that those tokens are at all feasible or necessary. I would of course bind myself to the rules I made, but since the object is centralized by design, holders would have to trust me. Oh, and one other question: What kind of platforms would make this kind of token creation possible? I think Waves, of course (yeah, signature, I know ;) ), but what else? Nxt? Seems like a great idea to me! And the ideal platform for this is Nxt for sure: they have the Asset Exchange where you can easily create an asset and give out shares. With their voting function in the wallet you can let the shareholders vote by the amount of shares they are holding. Have a look here: https://nxt.org/what-is-nxt/asset-exchange/ (https://nxt.org/what-is-nxt/asset-exchange/) Good luck with your project! :) |