What’s the FanMake?
FanMake is a platform that enables creators and businesses to monetize their content by creating non-fungible tokens (NFTs) that represent unique ownership of digital assets such as art, music, videos, and other creative works. The platform supports IP licensing, which allows creators to license their intellectual property (IP) to others for use in creating derivative works.
The platform also supports derivative creation, which means that creators can create new works based on existing IP and tokenize them as NFTs. This allows creators to monetize their content even further, as fans can purchase these derivative works as unique NFTs.
Overall, FanMake is a platform that evolutionizes the way fans interact with their favorite IPs and enables creators and businesses to leverage NFTs to monetize their content, while also providing tools for IP licensing and derivative creation to further expand their revenue streams.
Why create collections on FanMake?
In summary, FanMake will provide the following three features for collection creators:
1. Help define a collection license that protects the copyright of artwork, using a16z Can't Be Evil Licenses. Creators can create approved derivative collections based on the CBE License type of the original collections.
2. FanMake helps creators earn a continuous income from token minting, selling licenses, and receiving royalties from token sales. The FanMake collection protocol deeply integrates with OpenSea, including SeaDrop and OperatorFilterer, to ensure that creators earn their due. More details on creator royalty settings may be provided.
3. FanMake could support more collection features. On one hand, it integrates with the OpenSea token drop feature, which includes token public sales, pre-sales, airdrops, and more, meeting most collection demands. On the other hand, FanMake is a growing platform, and we plan to support more features to meet market demand.
What kind of collections types could the creators create on FanMake?
There are two types of collections on FanMake: Original Collection and Derivative Collection.
A collection that is not derived from any existing collection will be launched on-chain via the FanMake platform. Creators need to follow a series of steps and pay for gas to generate an on-chain collection contract.
A collection created under the FanMake license is derived from one of the original collections or derivative collections. It is similar to the original collection, except for the reward distribution, which is calculated using the license split rate. This means that the licensors can receive continuous income from the derivative collections.
The created collections will be displayed on FanMake, and the Minted tokens can be searched on the secondary markets compatible with ERC721 standard.
Is it possible to import an existing collection to create derivative collection?
Yes, to add an existing collection to the FanMake license ecosystem, click the "Import Your Collection" button on FanMake's "+" menu. This operation will not create a new collection, but rather verify your ownership of the collection you're importing. The added collection will be labeled as an "external collection" on FanMake.
Currently, you can only create a collection license (see "What's the FanMake License") for the entire imported collection. However, a token license creation feature is coming soon. After creating the collection license, creators can find it in the license list and use it to create a derivative collection from the external collection.
What’s the FanMake License?
The FanMake License, officially named the License Registry, is created by the original collection owner or token owner. It is used to create derivative collections and standardize the royalty share rate with the original collection. This means that all revenue from token minting and creator earnings from second-sale can be shared based on the licensed split rate with the original collection. This stimulates the original collection owner to create a license for promoting second-creation. At the same time, derivative collections may gain a reputation effect from the original collection, which will incentivize derivative creators.
The License Registry is consumable (default is unlimited) and revocable. License creators have the authority to update the revoker to revoke the continuous use. However, note that a revoked License Registry will not affect the licensed derivative collections.
How to create FanMake license?
For the current version, FanMake only allows the license creator to set the price, royalty rate, and choose the license type. To create a license for your asset, find it on "My Page" and click "Create License". Before creating a license, there are some important definitions to consider:
There are two types of licenses to create: collection licenses and token licenses. Both licenses have the same properties, except for the licensor property. The collection license can be generated by the owner of the original or derivative collection. The token license originates from the tokenId or licenseId of the owner.
Price refers to the cost that every creator who wants to create a derivative collection with the license will need to pay. The license type determines that every paid fee will be sent to the license owner. For example, the collection license owner is the licensor collection contract owner, while the token license owner is the licensor collection tokenId owner. Furthermore, if the license is still active, new paid fees from token license users will be sent to the new tokenId owner after the tokenId is transferred to another address.
The FanMake license royalty rate is designed to calculate the creator's earning distribution. Only the FanMake licensor can set the royalty rate, but creators can decide whether to pay for the license assigned a fixed royalty rate.
$$ Rderivative = Rtotal * (1-RoyaltyRate) $$
The above is the reward calculation of derivative collection, An example is like the following:
License Royalty Rate: 10% Total Claimable Reward On Derivative Collection: 1 eth
original collection claimable reward: 1 eth * 10% = 0.1 eth
derivative collection claimable reward: 1 eth * (1 - 10%) = 0.9 eth
What’s the CBE License?
"Can't Be Evil" NFT License codifies the rights of NFT makers, buyers, and sellers so that all parties are aware of the rights connected with NFT ownership. It divides NFT projects into six categories based on whether the author renounced the copyright, if the token holder has exclusive, non-exclusive commercial rights, or merely rights for personal use, and whether it may be revoked if it is being misused.
What’s the difference between CBE License and FanMake License?
The CBE License is defined by a16z and outlines the NFT rights of all related parties. The FanMake License is defined by FanMake and grants FanMake creators permission to create derivative collections.
Can the collection tokens minted on FanMake be sold or transferred on the second-market?
Yes, but not all are second-market. To ensure that the creator is earning actively, FanMake collections have been deeply integrated with OpenSea. This includes SeaDrop and OperatorFilterer, which filter a list of addresses by the OperatorFilter contract. For more details, please check: https://github.com/ProjectOpenSea/operator-filter-registry.