We see a lot of font marketplaces like FontFabrica, Envato, CreativeMarket, FontShop, etc…, All works on the same business model. The buyer on the one end and sellers on the other end. In the middle, these companies make a profit with hefty commissions. Almost all centralized marketplaces work the same way. Middle-men get a huge commission.
If you see any centralized marketplace commission structure, it goes between 20–70%.
Let us assume, the “Marketplace X” fixes the commission of 40%, the seller needs to raise the price by 66.67%. And buyers have to pay that 66.67% extra premium.
If the seller has the font called “Premium Roboto” and he expects to earn $10 on each font sale. Seller forced to add $6.66 (66.67% of $10 which is 40% of the exchange commission) which makes the price of the font to $16.67.
Now, the buyer is forced to pay a 66% premium price or drop the idea of buying the overvalued font. Or Sellers have to reduce the price dramatically and end up making less profit.
Low profit for the seller, less value for the buyer, and hefty commission for middlemen.
The solution is lowering the marketplace’s commission %, so sellers fix the price low which drives more sales and still makes a profit. And give more options to sellers to monetize their fonts from other than license fees. Since centralized marketplaces are here to make a profit, they won’t do that.
We need to take the power away from the centralized marketplaces. But how to do that?
Font.Community is a Decentralized marketplace for Fonts, where creators, sellers, buyers, and font users own the marketplace. Here there are no middlemen and no hefty commission. It is completely owned and controlled by the Community, by its users.
Since commission will always be a maximum of 4%, sellers can sell fonts at a low price, drive more buyers, and still make a good profit.
Also, with Font Community, It is not only about buying and selling fonts. There are multiple ways for font creators/sellers to monetize their font. For example, you can borrow money against your fonts, Earn interest by locking fonts, Raise funds for your next great font via crowdfunding, Sell font ownership, Tokenize your fonts, and much more.
All with help of the ethereum blockchain, fonts are NFTs(Non-Fungible Tokens / ERC1155) and DeFi Enabled and community governed by DAO.
Finally, a marketplace where commissions are 4% or less. There will be no barrier for creators to upload their creative work. The first marketplace without middlemen and owners are font creators, buyers, and sellers. The commission fees are shared with all shareholders of the font community.
Since Fonts are NFTs, font creators or owners can transfer the ownership for good money. The new owner will receive the license fees. This drives more creativity and activity around fonts.
Since most font creators are not crypto-savvy, Font.Community will conduct periodic Font auction events where speculators will bid the font ownership. It helps font creators to make one-time big money. Also, this will drive more creativity around the fonts.
By issuing tokens against the font, owners can sell a portion of their fonts for some quick money. Based on the holding, holders will receive the dividend from license fees. By distributing the font ownership to multiple owners, they all help your font’s sales go up.
If font owners need urgent money but don’t want to sell their font ownership, they can collateralize their fonts and take a loan. The license fee earned during the loan period will go to the lender. Loan amount decided by lenders based on the past earning report and potential future returns for the font being collateralized. Whenever the owner pays the principal with interest, he can get back the font ownership.
Since there is a potential license fee earning opportunity during the loan period, lending money against font is a novel idea.
Font owners can lock their font and earn interest. During this lock time, the license fee earned will be lent in DeFi Protocols and interest will be paid to font owners at the end of the lock period.
If you want to launch the next big font and want to raise money for the same, you can raise money from the crowd. Similar to ICOs, Font.community offers IFO(Initial Font Offerings). The font will be tokenized and presale to believers and speculators.
Since the whole platform is run by the community. Everyone earns $FONT tokens based on their contribution. For example, If the creator uploads the font, He will get the $FONT token. The more font he uploads more tokens he gets. 50% of the total supply (1,000,000 $FONTs) are allocated for mining.
Here is the comparison table against existing font marketplaces. We already onboarded more fonts than Google fonts and Adobe Fonts.
To create an NFT marketplace for digital goods like fonts, templates, or software. We need to address 3 important points.
The file should be public and encrypted. Only whoever bought the license should be able to get the decrypted files. All without storage redundancy or a single point of failure(like centralized key management).
The creators tend to release new versions and add-ons often. The NFT storage should accommodate it. In other words, the system should consider multiple versions of the same item as a single NFT.
The system should protect the digital goods from pirating but at the same time, it should be in public and permissionless.
We at Font.Community, we work on a system/framework which solves the issues around Digital goods as NFTs. In addition to solving the above, we are carefully considering the following challenges.
By addressing the problem by considering the current challenges, We believe, Font.Community pave the way to not only the font NFT marketplace but also other digital goods marketplace.
Font community is a decentralized marketplace for Fonts, where fonts are revenue generation NFTs.
Currently, FONT is being ranked 2722 on Coinmarketcap
FONT has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy FONT.
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)… We will use Binance here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer. You will be charged higher fees when using cards but you will also make an instant purchase. While a bank transfer will be cheaper but slower, depending on the country of your residence.
Step by Step Guide ☞ What is Binance | How to Create an account on Binance (Updated 2021)
Next step Transfer your cryptos to an Altcoin Exchange
But we are not done yet, since FONT is an altcoin we need to transfer our coins to an exchange that FONT can be traded. Below is a list of exchanges that offers to trade FONT in various market pairs, head to their websites and register for an account.
Once finished you will then need to make a BTC/ETH/USDT deposit to the exchange from coinbase depending on the available market pairs. After the deposit is confirmed you may then purchase FONT from the exchange view.
Exchange: Uniswap (V2)
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once FONT gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
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I hope this post will help you. If you liked this, please sharing it with others. Thank you!
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The origin of the article: https://www.youtube.com/watch?v=LAVwpiEN6bg
🔺 DISCLAIMER: The article is for information sharing. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Not investment advice or legal advice.
Cryptocurrency trading is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money
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The SafeMoon Protocol is considered as community-driven DeFi token that focuses on reflection, LP acquisition, and burn in each trade where the transaction is taxed into 5% fee redistributed to all existing holders, 5% fee is split into 50/50 where the half is sold by the contract into BNB and another half of SafeMoon tokens pairs with BNB and added as liquidity pair on PancakeSwap.
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