A Fair Share of Royalty Fee Contributions
UPGRADE DAO implemented a fair share of Royalty Fee contributions to the work owner, the artist, and the owner of the work (Prop Owner) who UPGRADE NFT for new work.
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NFTs sometimes use ERC-1155 standard in conjunction with the ERC-721 standard for Original Creator Platform Fee.
This concept is used by UPGRADE. UPGRADE maintains a share ratio for owners and artists. The platform that released NFT continues to receive its fees.
UPGRADE Platform will consist of several working parts. Initially, the platform will run on Ethereum. It is the most reliable and popular Blockchain and has many precious transactions and NFT pieces.
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UPGRADE tool can be used in NFTs in the game industry. NFT owners can mix and trade NFT items. It can be in the Metaverse world, where such tools can be combined further and create an endless possibility.
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The owner of NFT can lease his work then wait for the opportunity to receive XUP Token forever. This system’s ability will be an essential tool in the NFT industry and allow collectors to receive passive income from their NFT portfolio.
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Benefits of UPGRADE Leasing
When the owner can sell the new upgraded NFT, the system will pay for the lessee a reward as a share of the fee in “XUP Token” every time the upgrade sells.
Owners can benefit from leasing of their NFTs. Leasing means that the work owner transfers his work to the system. Anyone who wishes to upgrade their portfolios can select NFTs from the lessor to combine them with their original NFT and create a new NFT.