Mint Collectibles and Rights

Xooa platform provides the capability for users to mint tokens/NFTs. There are two types of NFTs:

  1. Collectibles : are items that are worth far more than their original sale price and are considered alternative investments that do not fall into any other category like stocks, bonds, cash, or real estate. Investing in this asset class can be both rewarding and help you maximize your returns.

  2. Rights : are the set of rules that defines the ownership statement, royalty fee, and license details.

Mint Collectibles

Steps to mint collectibles:

  1. Login to the Marketplace

  2. Go to General marketplace

  3. Click Mint Collectible

  4. In the Asset page, enter NFT name of the asset

  5. Browse your NFT asset and upload

  6. Give a brief Description in the field

  7. Provide Artist details

  8. Enter number of Editions to be sold of the collectible item

  9. Choose Categories for the item accordingly

  10. Provide Tags to the item based on its description

  11. Select the Ownership details

  12. Go to Royalties & Selling tab

  13. Select List for selling

  14. Choose Royalties accordingly

  15. Click Mint

  16. Go to the General Marketplace page to view your minted collectible. The collectible will be available either in General marketplace or in the Featured tab.

Mint Rights

Steps to mint rights:

  1. Login to the Marketplace.

  2. Go to Rights Marketplace –> click Mint Rights.

  3. In the Rights page –> Asset tab –> browse to upload NFT Asset.

  4. Enter Artist details. Give a brief introduction of the artist and the work.

  5. Enter NFT Name –> set number of Editions to be sold.

  6. Give a brief Description of the item.

  7. Select Categories that apply.

  8. Click Selling and Ownership tab.

  9. Select list for selling.

    a. If selecting Yes, then set the price for the item in the field provided. Based on the price you set, the Prospective Disbursement Statement (PDS) will be calculated.

  10. When setting Royalty rights:

    a. If you select Royalty Free, then no further action required.

    b. If you select Subject to Royalties, then you can also set initial and secondary sale percentage. This is the royalty amount that the seller and the artist will benefit for each edition sold. The PDS is calculated based on the percentage set for each edition.

  11. In the Ownership details, select option that applies:

    a. For “I am the original artist, author, or creator”, no action is required.

    b. For “I have exclusive rights to this item through (Please Describe in Provenance Section)”, you must provide supporting provenance file and details in the fields.

    c. For “I do not have exclusive rights to this item (please explain)”, you must provide a statement issued by the owner of the item authorizing you (the seller) to sell the item on your marketplace.

  12. Click the License tab.

    a. Provide your own license –> provide license details.

    b. Use checkboxes to continue.

    c. Choose Exclusivity for the item –> use checkboxes to categorize exclusivity.

    d. Set Region. If you choose Geographically Limited option, then provide names of countries in the field.

    e. Select Duration –> If you choose Time limited, then set the time limit in hours, days, or months accordingly.

    f. Set other exclusions as necessary.

  13. Click Mint to complete setting the minting rights. If minting rights for the first time, there will not be any records in the Transaction History tab.