openAR is a non-for-profit undertaking, hosted by panke.gallery. The distribution of collected royalties on openAR differ between initial sales and resales (secondary sales).
The fees for an initial sale of an artwork on openAR are as follows:
5% of the collected fees will be used to secure the operation and maintenance of the platform. Remaining funds will be rewarded to the community – in the form of cooperatively distributed remuneration, curatorial funds or other community supporting initiatives.
The Fees for a secondary sale of Digital Artwork on openAR are as follows:
The resale option is not yet available on openAR, but the royalties are already stipulated in the smart contract fixed to your NFT and will be enforceable as soon as we have integrated the secondary sale function on the platform.
As mentioned above, 10% of initial sales will be collected in a community fund intended to support artists and curators, reward users of openAR and cherish a diverse and independent art scene.
Possible modes of distribution are sketched out below: