One single NFT item is created with 100 shares on Mint Marble under normal conditions. Similar to the concept of art auction in real life, if there are 100 bidders when auction ends, the 100 bidders will be assigned 1 share each.
The 100 shareholders who own the NFT item will be given the authority to produce and sell the copy of the said NFT on Mint Marble. The copy cannot be traded again once it’s traded, and cannot be exported outside of Mint Marble. Plus, the production cost will be incurred, and the sales $MIM will be equally distributed to the shareholders of the original NFT of the copy that was sold.
However, by simply owning the share of an NFT item will not make the holder eligible for the distribution of the profit. The share must be consigned on a platform via Stake system that Mint Marble provides, and the item must be locked up for the shareholder to be eligible.
This is to forestall any form of circumvention of the rules, such as hoarding of the NFT items for short-term profit and its distribution, and to exclude the users who do not contribute to the economic ecosystem of Mint Marble. In addition, the staking period provide options for the lock-up period of 30, 60 and 180 days, and the more it is staked the less transaction fee the system will apply.
While the explanation has used the concept of shareholding for the NFTs, but in Mint Marble, they will be classified as 100 same NFT items with the same unique numbering. The NFT owner will still be able to equip or use the item on Mint Marble even while it is being staked.
NFT Staking Reward
The revenue generated from NFT items will be distributed equally as per the number of the users who stake the share. Suppose a reward for 100 is generated over 20 users. The reward will be equally distributed for all 20 users at the value of 5. If 100 users staked the item with the reward of 100, then the reward will be 1 for equal distribution. Therefore, the number of the staked users will eventually determine how much reward will be distributed individually.
NFT Staking Slot
The number of staking slots for the revenue distribution from NFT items is limited. All users have the same number of staking slots.
NFT Item Minting
The user can own multiple shares of the same NFT by ways of purchasing them or getting them as gifts. Mint Marble will provide minting service for multiple shares for the same NFT item for the more effective management of the shares. The process will be a deletion of the existing shares and minting (merging) them as one with multiple shares. This will help the users to manage staking slots more effectively.