Platform funding

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:

• Creators receive 85% of the total sale price of an initial sale.
• openAR collects 15% of the total sale price of an initial sale.

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:

• Sellers receives 85% of the total sale price of a Secondary Sale.
• The original creator receives 10% of the total sale price of a Secondary Sale.
• openAR collects 5% of the total sale price of a Secondary Sale.

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.

Ideas for community support:

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:

• Crowd-curation month on the premises of panke.gallery: An annual exhibition of openAR artworks at panke.gallery – organized by the community and supported by the fund
• Crowd-commissioning programme: The initiative commissions and funds the creation of new artworks to support artists and enrich the platform with excellent works.
• Collective remuneration: Earnings on the platform are shared proportionally to sales of the previous billing period. This helps to increase the earnings of all members on the platform, while incentivizing participation and further growth.