Summary
$PACE tokens are created to streamline and enhance relationships among artists, collectors, and audiences by enabling the equitable sharing of royalties generated from digital artworks, including derivatives and exhibition tickets.
PACE's central feature is its innovative royalty-sharing mechanism. Artists, collectors, and audiences (fans) all benefit from the royalties generated by the digital art ecosystem:
Artists: When their artworks are sold or used for derivatives, artists automatically receive a fair share of the proceeds, ensuring they are continually rewarded for their creative efforts.
Collectors: Collectors who own the NFTs also earn a portion of the royalties when their acquired artworks are resold or utilized, creating a sense of investment and ongoing engagement with the platform.
Audiences (Fans): Even audiences and fans of the artists have a role in this ecosystem. They can participate in the sharing of royalties by attending virtual exhibitions, purchasing exhibition tickets, or engaging with derivative content associated with the artworks. This engagement is rewarded with a share of the royalties, fostering a deeper connection between artists and their audiences.
This equitable royalty-sharing system encourages the creation of high-quality digital art, incentivizes investment in NFTs, and strengthens the relationship between artists and their supporters. Furthermore, it paves the way for a more inclusive and collaborative digital art community.
3Space Art envisions a future where digital art thrives as a dynamic industry, ensuring that artists, collectors, and audiences are all actively involved and rewarded for their contributions. It represents a significant leap forward in the evolution of the digital art NFT space, driven by technology, equity, and collaborative community efforts.
The diagram below explains the relationship between participants and how PACE is facilitated:
Properties
PACE tokens follow the ERC-20 standard and are issued on the Ethereum network
A total of 100,000,000 PACE tokens will be available with a fixed supply
PACE can be stored in Ethereum wallets that support ERC-20 tokens
PACE or oPACE is rewarded based on where the NFTs were minted. Collectors and Artists can claim tokens by connecting their wallets and checking the dashboard
PACE can be obtained by buying and selling NFTs, staking in the Art Pool, or providing liquidity for Ethereum and/or Klaytn liquidity pools on DEXs
Earning PACE
50 percent of the total supply is allocated as rewards for using the Marketplace and Art Pool
Marketplace (25%)
2% of the sum spent on NFT purchases are converted to PACE and rewarded to collectors
2% of each NFT sold is converted to PACE and rewarded to artists
1% of each NFT sold is converted to PACE and rewarded to referrals (if any)
100 PACE is rewarded to collectors and artists on the first sale
Art Pool (25%)
Fixed staking pool with 2% Annual Percentage Rate (APR)
Flexible staking pools with adjusted APR range
Calculations
The number of PACE token rewards will vary depending on the price of NFT art and PACE tokens
An additional 20% is allocated under 'Ecosystem Liquidity' to ensure liquidity across AMM and DEX
The price of the PACE token is updated every 10 minutes, and the median price will be calculated to determine the number of tokens for rewards
Spending PACE
Marketplace
Tiered discount for subsequent NFT purchases
Discounts on hardware wallet purchases
Discounts on digital frame purchases
New drops
Minting fees
Art Pool
Fixed and/or flexible PACE staking pools
Tickets to offline/online events and exhibitions
Exclusive exhibition rights on venues
Others
Support your favorite artists - use PACE to promote artists and their artwork on billboards, advertisements, exhibitions, interviews, and publications
Digital art streaming subscriptions
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