- Summary:
- German crypto social trading platform, NAGAX has created a special fund to support NFT artists and creators. We tell you how it will work.
NAGAX, a decentralized cryptocurrency social trading platform, has announced the launch of its ‘NFT Creator Fund.’ Artists, creators, and those who want to start their own NFT collection can apply for the $100,0000 grant. With this fund, they’ll have access to an enormous network of collectors. Participants must register on the NAGAX website between May 1st, 2022 and July 31st, 2022, to submit a project proposal or portfolio.
On August 10th, 2022, NAGAX will announce the winners, and they will each receive a portion of $100,000 in marketing and launch support. To top it all off, winners will also get the chance to showcase their designs on the NXNFT Marketplace. In addition, they can mint and create their collections for free by using NAGAX’s native blockchain platform. All-in-one NFT marketplace NAGAX NFT, brings the social value of real-world contact into the growing virtual world.
In terms of marketing, the promotional activities will begin within 30 days of acceptance of the award and continue for the duration of the budget money. The winning artists will feature on NAGAX’s website and in other online promotional materials, such as social media campaigns. In addition, the winning collections will be promoted to the NAGAX community, the NAGAX feed, and the NAGAX NFT platform feed, among others.
In 2022, the German fintech NAGA introduced NAGAX, a platform that provides consumers with simple-to-use and comprehensive crypto trading options, including copy trading. Hence, the main purpose of the platform is to let users replicate trades made by other cryptocurrency addresses and influencers. Fees automatically go to the wallets of the developers of the ‘trade NFT’ by any trader who copies the trade.
Full IP rights to artists
The NFT owners will retain full rights to their works. Additionally, the author retains full and unrestricted ownership of any proceeds from the sale of the collection. This is a significant departure from most artist funds, which typically take a portion of an artist’s income and/or claim some rights to the art pieces.