Amacrux is the first community NFT marketplace that incentivizes creators and collectors to trade user content and useful digital assets in the real world. The marketplace will allow creators to mint their digital image, audio and video files as NFTs and offer them for sale or auction.
1. AMACRUX PROTOCOL
The protocol is an Ethereum-based NFT marketplace that will allow users to monetize useful content through the minting and trading of NFTs. In addition, the platform provides an interface with dynamic tools to apply to financial services and online stores using smart contracts powered by the native AMAX token. Multi-chain interoperability increases marketplace sustainability, optimizes blockchain energy consumption, and expands customer reach for Amacrux.
1.1 IMPORTANCE OF NFTs
NFTs are basically digital assets that cannot be replicated or reproduced. An NFT is a digital asset that exists
completely in the digital universe—you can't touch it, but you can own it. NFTs are giving more power to content
creators than ever before.
An NFT is created or “minted” from various digital assets that represent tangible and intangible objects from
the real-world.
1.2 ERC-721 vs ERC-1155
NFTs are generally made using ERC-721 smart contracts on Ethereum compatible blockchains. While this type of
contract gives them the unique properties that make them so unstable (scarcity, verifiable and authenticity), it
also has some limitations. Each ERC-721 token has a unique identification, for which there can be only one
token. This makes batch operations very expensive in terms of gas rates and makes coached property impossible.
The ERC-1155 standard provides "semi-fungibility" and is a superset of the ERC-721 standard. Unlike ERC-721,
where a unique ID represents a single asset, an ERC-1155 token's unique ID represents a class of assets with an
extra quantity field to indicate how much of each class a wallet owns.
1.3 BRIEF DESCRIPTION ABOUT NFTs
If you are familiar with the concept of creating NFTs, feel free to skip this section. NFT at its core is just a
variable in a smart contract code. The most common approach is the following:
1. Upload metadata (image, description, attributes, etc.) to IPFS, which is a JSON-like decentralized database.
If you've ever used a NoSQL database like MongoDB or Firebase, that's basically it, just decentralized.
2.
Based on all the properties you have loaded, a hash is calculated by which you can now access your asset.
Professionally, it's called a URI, which stands for Unique Resource Identifier. Also, since storing image data
on the blockchain would be expensive, instead of the image data itself, it stores an image URL in its NFT. The
image itself can be stored in IPFS. Just not in the JSON you use for NFT creation.
3.
A smart contract function responsible for minting is invoked and maps the URI created in the previous step to
your account address.
4.
That is all. Since the code on the blockchain is immutable, and we have a token ID variable that tracks each
unique NFT creation in a given smart contract, even if the same URI will be used twice, it will still be a
different NFT.
In short, minting can be described as a process of a write operation, which has oneThat is all. Since the code
on the blockchain is immutable, and we have a token ID variable that tracks each unique NFT creation in a given
smart contract, even if the same URI will be used twice, it will still be a different NFT.
goal — associate an address of a creator with a tokenId, which points to token metadata URI on IPFS.
2. NFT MARKETPLACE
Amacrux is a peer-to-peer decentralized marketplace that provides practical modules for minting non-fungible tokens (NFTs) represented as useful digital assets in the real and virtual world, allowing buyers and sellers to interact with collectibles, apply to online stores and participate in crowdfunding rounds.
2.1 CATEGORIES
To list every possible category would take way too long, but we think you get the idea! That said, here are a
few of the highlights and most popular NFT categories available.
2.1.1 PFP
PFP are generated images of a character, normally in a “headshot” format. Each one is unique in appearance as they contain different algorithmically generated traits in clothing, shape, color and more.
Avatar NFTs and PFPs serve to generate socio-economic value for like minded communities with projects like Bored Ape Yacht Club.
If you’ve spent enough time on Twitter you may have stumbled across users with avatars as their profile picture.When a community strongly backs a generative NFT project like BAYC, members often use their avatar as a Photo for Profile or PFP on Twitter or other social media platforms. This action is intended to communicate to others in the community that you are a proud member of the group and support its plans for the future.
2.1.2 Art
Provenance, or proof of ownership and origin of art objects, is provided via the blockchain. Copyright protection for digital artists is becoming increasingly challenging. Using NFTs, one may purchase a work of art and display it in a digital environment while being fully aware of the asset's history, including the artist's identity, date of creation, list of previous owners, and asset’s worth throughout its lifespan. Digital artists can let their creativity flow and launch many exciting collections through Amacrux.
2.1.3 3D
The 3D NFTs have manifested in digital collectibles like trading cards, gaming items, characters, etc. Some retail brands leverage NFTs to increase customers engagement and create potential revenue streams through new products offered.
2.1.4 Ticketing
Counterfeit products and tickets are a major problem in the sports business, which the blockchain can help solve. With the aid of tokenized game tickets produced on the blockchain network comes the immutability of blockchain bans counterfeit items and tickets. Although game tickets may all seem the same, each one will include unique identifiers that link it to the designated owner on the blockchain.
2.1.5 Multimedia
Musicians may now tokenize and publish their work as non-fungible tokens thanks to the blockchain and technology that powers the network. This has broadened the range of possibilities available to artists to monetize and profit from their music, as well as other content related to the music and the artist's public image. Music clips and files are one of the newer types of NFTs that have been slowly gaining traction.
2.1.6 Gaming
The usage of NFTs in blockchain-based gaming allows users to safely exchange in-game items while also ensuring legitimacy and validity. NFTs also allow for the open trading of uncommon goods for cash in a safe and secure gaming environment. They are a fantastic way to get virtual ownership of rare and unique gaming items while generating income by utilizing users’ gaming abilities. NFTs can provide records of ownership for in-game items, fuel in-game economies, and bring a host of benefits to the players. This grants versatility that the players (or at least their NFT cards) can be bought and sold for real value. Real players, real value – and a link between the real world and your gaming experience. This is the appeal of game asset collectibles.
2.1.7 Metaverse
The association of real identities with digital avatars presents opportunities to define access to the metaverse with NFTs. For example, tickets to access an event can be based on NFTs and will limit access to the most exclusive guests.
2.1.8 Sports
Non-fungible tokens (NFTs) are a money-making opportunity for the sports industry and also a great way for sports fans to engage with their favorite teams, athletes and historical moments. People have always loved to own sports collectibles and NFTs are now offering a new digitized way of doing it.
3. Using Amacrux.
Amacrux is an ideal platform for buying, selling, creating and importing NFTs. As a potential buyer, you can search NFTs by category to narrow down your search, but you can also filter by trending items, hottest auctions and latest clearances. Alternatively, scroll through artists and users to refine your search by person if you already have someone or something in mind. The buying process is simple, but it can go one of two ways. Either a seller lists their NFT for auction, or they add a set price, take it or leave it. Auctions are exciting to be a part of and often lead to the most surprising sales, but a set price is ideal for when you want to make a purchase quickly. Selling an NFT works much the same, except you are the one who chooses what type of listing you want. If the token is a newly created work of your own, you can set a resale commission value, which means that you get money from any future sales of the NFT. On the other hand, if you are re-selling somebody else’s work, you may have to give part of the profit to them.
3.1 SELL NFTs
If you already have NFTs, you can connect to your trusted digital wallet and import your assets by inserting the URL or directly selecting the image displayed on the Amacrux interface. Or you can make your own NFT on Amacrux, it is incredibly straightforward! Once you upload the image, all the instructions are laid out clearly with simple terminology and straightforward advice. Whether or not you have coding experience, you can get your creation into the Amacrux platform. Once your collection is ready, it appears on your profile. You can then promote and share it using properties and tags- the more details you add, the better! To mint non-fungible tokens (NFT) the users are required to fill in information fields, following the steps:
- Step 1. Upload file: usted debe subir el archivo de su preferencia como una imagen, vídeo o audio con un tamaño máximo de 32 MB, considerando cualquiera de estos formatos: JPG, PNG, GIF, WAV, MP3 y MP4.
- Step 2. Mint NFT: every creator will start their NFT journey by deciding which blockchain they should adopt. Most NFT activities we observe are built on Ethereum, due to its capability to attract a broad set of users and developers. Soon, the Amacrux users can expect to see more blockchains entering the market. In this step, you must insert the NFT metadata to proceed with the minting:
- Network: the creators must add the blockchain network to use in order to mint the asset (item). Initially, the protocol supports Ethereum blockchain.
- Name: Creators need to add a name to identify the item to publish.
- Description: Specifications can be added for items such as size or supply, potential uses, certifications and any information that the creator considers relevant.
- Properties: Refers to the attributes and qualities to represent the items (E.G Aesthetics, Rareness and versatility).
- Royalties: It is up to the owner to attach a % royalty to obtain passive income from secondary sales of their works. Royalty percentages range between 0 and 10%.
- Number of copies (available for multiple items): This will determine the number of existing NFT copies. It is possible to reduce this number by burning the NFT not sold.
- Gasless – Users can check this box if they want the future NFT buyer to cover minting gas fees. Once NFTs are minted, they will be stored on the blockchain, unchangeable and tamper-proof.
- Step 3. List NFT: In this last step, you must set an NFT price and the method of sale. Initially, only two of the four methods mentioned in the lightpaper will be available, these are:
- Fixed-price: seller lists the NFT for a price that never changes, unless you decide to remove it from the list. The seller can also activate notifications to receive offers lower than the set price.
- English auction: timed, minimum price auction. If the auction ends with a bid of less than 1 ETH, the seller can choose the highest bid or cancel the auction. The buyer with the highest bid at any time is considered the one with a standing bid, which can only be displaced by a higher bid from the floor.
3.2 COLLECTIONS
It should be noted that the procedure is very similar to creating an NFT collection, you only need to take into
account the following aspects:
- When you mint an item in Amacrux the art is added by default to the ERC-721/BEP-721 or ERC-1155/BEP-1155 folder (if you include multiple copies). This folder is public for any user and belongs to the Amacrux collection.
- When you create your own collection, you are creating a new folder in your name, only you have access to edit this folder.
- When creating a new collection you will be asked to fill in some additional fields such as:
- Category: Creators can catalog their digital works as profile pictures (PFP), art, 3D, ticket, multimedia, gaming and metaverse.
- Tags (optional): Tags can be used to group related terms from items of a collection.
- Sensitive content: it is recommended to check the box if the content to be listed includes any of the sensitive terms exposed by Amacrux. Sensitive content criteria.
- Contacts (optional): You can make yourself known to the Amacrux community by adding your social profiles.
- Creating a new collection requires signing a transaction on the blockchain so be prepared to cover gas fees.
3.3 DELAY MINTING
Stop worrying about high Ethereum gas fees! By activating the delay minting function, the NFTs you want to
create in the Amacrux collection will be minted absolutely free.
But how does this happen?
Actually, the NFT minting process is frozen until the moment of purchase. In other words, it is the buyer who
pays the gas minting. Otherwise, your NFT is kept safely stored in IPFS where you have full control. When
creating the NFT with the delay minting, you will just need to sign the “minting authorizations” with your
wallet. It’s free, and it guarantees that you always remain in control over your creations.
The delay minting functionality is currently available for Amacrux default collection only. There is no charge
to create an NFT, but it does not become officially minted until somebody buys it.
If you want to burn the delay minted NFT, you will need to pay the gas fee as with the regular NFTs, according
to the standard (single or multiple).
3.4 ROYALTIES
If you’re a creator, using Amacrux means you can set your own royalty percentage up to 10%. Also, becoming a creator is as easy as connecting a digital wallet and starting trading your NFTs.
4. SOCIALFI MODEL
Unlike the Web2 social networks, the use of SocialFi on web3 provides higher levels of privacy and security for users personal data, allowing creators of content to monetize their transmissions and interactions while protecting their personal interest in the virtual space.
4.1 UGC (user-generated content)
The most significant use of NFTs today is in digital content. Content creators see their profits enhanced by
NFTs, as they power a creator economy where users have the ownership of their content over to the platforms they
use to publicize it.
This means that Amacrux can offer new types of interactions, like these (rolling out soon):
- Collections offer: Users can make an offer that covers all NFTs in a selected collection.
- Contents offer: Unlike offering collections, users can make a custom offer and request an early trial from content creators.
- Limit orders: Users can open limit orders in multiple collections.
4.2 FREELANCE
As NFTs become even more popular, many are chomping at the bit to create their own NFT collection. However, not
everyone has the knowledge or the desire to create NFTs from a technical or artistic standpoint.
Soon, the users of Amacrux can find freelancers to develop NFTs projects, with just selecting the person you
think is right and showing the main idea of the project along with the budget, without additional charges.
This is especially useful for those who freelance or those who work in creative fields such as designers and
writers. The NFTs market has given freelancers and creatives the opportunity to monetise their intellectual
property without having to give up the rights on their content.
Any user you’ll want to look for specific features and assurances when hiring someone to help you with your NFT
needs. With that in mind, the platform will provide the following:
- Simple-to-operate filtering system: with thousands of NFT freelancers to choose from, you’ll need a filter to help you find the right one.
- Designer portfolios: these allow freelancers to show you examples of their previous work, allowing you to determine if their style is compatible with your NFT concept.
- Intellectual property (IP) rights: the sale of NFTs could lead to legal issues. These will either grant you full intellectual property rights or give you the option to purchase them.
4.3 CROWDFUNDING
Projects involving NFT must have strong NFT communities to succeed. A specific blend of exclusivity and
community is necessary for NFT initiatives to utilize social media to their fullest potential. Each owner of an
NFT for a project is automatically a shareholder and a representative.
Amacrux will provide a decentralized financial services interface such as crowdfunding. This process will help
independent creators raise funds by pre-selling unique digital assets represented as NFTs.
In short, the Amacrux marketplace will serve as an incubator for the successful launch of digital assets in
innovative projects pre-approved by the DAO community of users and members.
Giving NFT owners full stewardship of their works enables proactive participation in the ecosystem, opening the
door to deep liquidity from communities interested in exchanging real value.
4.4 NFT BASED-SUBSCRIPTIONS
NFT-based subscriptions are exclusive programs that use NFTs as access keys to unlock a variety of services and
rewards. According to the needs of the users, Amacrux subscriptions are divided into memberships and
advertising.
So we're all brushed up on subscription programs, now let’s take a moment to talk about how they can be used
like a permanent ticket to a subscription program on Amacrux marketplace. In this case, the platform could offer
NFT membership holders:
- Access to virtual events with professional traders, experienced crypto entrepreneurs, and popular NFT communities.
- Early access to whitelists and limited edition NFTs.
- Access to private or premium content.
If your lifestyle or needs change, you can easily resell your membership NFT on whatever marketplace you prefer — and you might actually make money doing so.
How do NFT Memberships work?
An NFT membership uses a process known as token gating to restrict specific types of content, events, communities, services, and other benefits to people who own a particular NFT. Token gating is considerably more effective than a user account because accounts are easily shared while crypto wallets are unlikely to be shared between people.
Why use NFT-based memberships and not existing forms of verifying access?
If you know anything about blockchain, you know that it is basically a digital ledger consisting of blocks harboring immutable on-chain transactions. Furthermore, Amacrux offers support for the most decentralized and secure chains. So, these two factors make NFT-based memberships incredibly safe.
In addition, on-chain data is publicly available, which ensures transparency.
Tools such as MetaMask enable you to store your NFTs easily, and since these same tools (hot crypto wallets) are used for Web3 authentication, NFT-gated websites are relatively user-friendly. Once users connect wallets to the marketplace, it is easy to check if they own the proper NFT.
4.5 AMACRUX DAO
A DAO is a blockchain-based organization that rewrites the rules on leadership and governance. It uses smart
contracts to replace hierarchical structures.
Users vote on a poll by signing a transaction on a Web3 wallet like MetaMask, using AMAX tokens to dictate the
weight of your vote(s). For example, if one AMAX is equivalent to one voting share, then those who hold more
voting shares have more influence on the decision.
There are DAO channels in discord with information about the progress and current actions of the DAO.
Discussions that lead to actions and discussion on current actions help to shape the direction of the DAO.
Benefits of a DAO structure
DAOs remove barriers to the decision-making process, such as who can propose changes to platform governance or
who has voting power (shareholders and board of directors in traditional companies). Here you can see the main
benefits of implementing a DAO structure in Amacrux:
- The contract defines the rules of the organization and holds the treasure of the group. Once the contract is active on Ethereum, no one can change the rules except by voting. If someone tries to do something that is not covered by the rules and logic of the code, they will not be able to do it. And since the treasury is also defined by the smart contract, no one can spend the money without the group's approval.
- It is possible to create a risk fund that groups investment capital and vote on the applicable projects to opt for crowdfunding. Refunded money could later be redistributed among the members of the DAO.
- Donations can be received from any user through the platform, and at the same time, members can decide how they want to spend the donations through the Foundation.
5. PAYMENT METHODS AND SERVICE FEES
Amacrux will work with three blockchains: Ethereum and Binance (BSC). The only way to buy, sell, or trade NFTs
through Amacrux is by connecting a supported Ethereum wallet and crediting it with the cryptocurrency like
MetaMask.
For this moment, there is no option for card payments or bank transfers.
The standard service fee for NFT transactions on Amacrux is 1.5%. This rate applies from side to side (buyer and
seller).
6. Architecture
Outline of the minting process of NTFs in the Amacrux market
In essence, the Amacrux architecture includes the interaction of the smart contract with the Ethereum/BSC nodes
through Infura, which contains all the details of the transactions in the market.
After performing the validations, successful messages or exceptions are sent to the client through a digital
wallet, in our case MetaMask.
This wallet needs to be paired with the platform (only the first time) with additional validation (RPC
Validation) taking place reflected on the front-end via React.js. At the same time, the front-end (React.js)
must interact with the back-end (Node.js) of the dApp (Amacrux) to propagate the data from the users' wallets,
so that the frontend can extract recent changes and show them according to the profiles of creators and
collectors in the Amacrux market.
The back-end is being developed with Node.js, which manages the creation of an item (NFT), and as a result,
generates a Hash ID for that item, which is then sent back to the front-end so the transaction can start with
the smart contract.
Finally, once the transaction is confirmed, we release the asset onto the IPFS network, ensuring that the future
owner will always be able to prove that the graphical representation they own is indeed the original.
User data such as transactions, IP connection and others are stored directly in PostgreSQL (Database).
6.1 THOUGHTS
Before starting in any NFT market, it is necessary to carry out objective research to identify market
opportunities that may arise within a community of users interested in acquiring unique digital pieces.
In
addition, the risks associated with investing in this class of assets must be known, such as high volatility,
collapses and hacks in the native block chain, possible scams and other unpredictable phenomena that imply a
partial or total loss of funds.
When visiting Amacrux for the first time, a quick guide is generated to show newcomers the functionalities of
the platform.
Next, they will be asked to connect a web 3.0 provider (e.g, Metamask) to link the crypto
wallet and start trading NFTs with other users without restrictions.
Any user can mint an unlimited number
of NFTs, considering a permitted format and sufficient funds to pay for the gas that the Ethereum blockchain
will require.
Any digital work will be scrutinized through the IPFS, based on access to metadata that contains the NFT
information necessary to establish proof of ownership.
Once the digital property is approved, the creator
must add a price to the item as well as a method of sale (fixed price or auction); to then be traded on the
market.
Why use open source software?
Open source software is developed in a decentralized and participatory manner, so it relies on peer review and
community production. In addition, it is usually more economical, flexible and durable than its proprietary
alternatives, since the community is in charge of actively collaborating with the development of the project.
Here are some reasons why users prefer to interact with open source platforms.
- Code anomalies are identified in a timely manner and in any workflow.
- Verifications and improvements of the code are carried out partially, that is, without interruptions in the chain.
- Active communities are committed to seeking help, resources, and insights that transcend the interest of one group or company.
- The software construction and development process is transparent, considering that any user can verify the status of the project and carry out a deep follow-up without depending on future promises, or worrying about possible changes that will be applied to the code.
- Developers and contributors can port the code to any external source of their choice.
- The software is released under a specific license making the source code legally available to end users. Also, the code itself is free.
Do you want to become an Amacrux partner?
For business partnerships, please send a message to the following alias telegram @amacruxpartnerships. Please note:
-
Send your message with details including:
Your first and last name
Brief explanation of your company/project
Role at your company/project
How we can contact you - Include the security code sent to your email. In this way, we verify that it is really you who want to communicate with us.
- We will not entertain product feedback/customer service requests via our business partnerships inbox.