FAQ - high level
- What is "tokenizing" art?
Art on the blockchain is "tokenized" (ie, digital art, along with the title of the art, and other data, can be saved to the blockchain). Here is an example of a piece of art that has been tokenized.
- When you create an NFT, what is a buyer actually purchasing?
The buyer is buying the digital art, in a similar way that a collector would buy physical art.
- Can't anyone just reproduce an NFT?
Yes, but only one of these NFTs will be "minted" / "created" by the artist. Collectors are not interested in duplicates, they are interested in the art that was produced by the artist.
- What kind of NFTs does i4 purchase?
i4 purchases various kinds of NFTs, but mainly focuses on art we think will appreciate in value. We have members with a sharp eye in various areas of expertise.
- Can I join i4?
Yes! Anyone can join, we are an open network. You can read more about us in the Notion link below.
FAQ - what we do
- How does i4 DAO spend its time?
i4 mainly buys NFTs, and sells them for more later. We spend our other time scouting for new artists, and sometimes buy art for collectors. If we had to break down our time, it would be ~75%, 20%, 5% type of thing. We also run community events, which isn't included in this time.
- How does i4 work with artists that aren't using crypto?
i4 buys the right to mint NFTs on behalf of artists at an agreed upon price. We handle everything blockchain related (minting, crypto payments, etc). The artists then get paid for their work. When the artist is interested, we hand over the password / keys to their account so they can manage it themselves.
- How much do we pay for NFT rights?
It's hard to know how much NFTs will sell in advance, so we pay our artists after the NFTs have been sold. 50% of the sale price goes to the artist who create the art. There are lots of fees involved in this process, and we end up making quite a bit less than this.
- Do we help artists onboard to crypto?
We definitely do! Our goal is to help artists navigate the crypto space independently, and to grow our community at the same time.
- How much do we charge for buying art for a 3rd party?
We charge a 15% commission for doing this scouting / purchasing.
FAQ - $GEMS token and voting power
- Does i4 have a token?
Yes, i4 has a native cryptocurrency called $GEMS.
- How is that token used?
Members in the organization get paid in $GEMS for their work. Governance in our network is separate from $GEMS ownership. The easiest way to start earning $GEMS is to suggest NFTs that our collective can purchase. If you make a suggestion which we accept, you get $GEMS for your curation work.
- Who has voting power in the network?
Every 500 $GEMS gives you 100 more votes, until you reach a maximum of 1000.