RECT.Art - a platform for creating NFT images. The peculiarity of these NFTs is that they are created from rectangles. Each NFT in this system can be inherited by others and receive a share of the income from child NFTs. The metadata of these NFTs will be natively stored on-chain and saved as SVG. Canvas size 240 * 240, each straight line must not exceed the border.
How does RECT.ART work?
All NFTs are minted by RECT.Art and are RNFTs under the rules of the TopBidder (TB) protocol. Any rNFT is free to evolve and each rNFT can have up to 255 child RNFTs.
The TopBidder protocol enhances the ERC721 standard with an additional bid function. Any bidder can take ownership of the rNFT if the offer price is 10% higher than the previous round. Thus, any rNFT has its own self-assessment mechanism, compatible with traditional NFT exchanges, thus improving NFT liquidity and realizing price autonomy.
The rNFT that is generated by the TB protocol has its own pricing mechanism, so it does not depend on any trading platform. Moreover, rNFT does not have an auction deadline. In other words, bidders can own the artwork for a certain period of time, depending on when the next bidder bids. As compensation, the former bidder can receive 30% of this premium as a subsidy.
Other features:
| 1. | One rNFT has two main roles: creator and curator. |
| 2. | Once the rNFT has been minted, the minter will become the creator and receive a 50% bonus on every bet, made on it. |
| 3. | The curator - the current highest bidder in rNFT. He can receive a 10% bonus on every bet on all of his RNFT subsidiaries. |
The starting price of rNFT - 0.05 ETH. Each bet will increase the price by 0.05 ETH for the first 10 rounds and increase by 10%.
What types of NFTs can be created?
You can create collectibles, art, memes, logos or any picture you can imagine. You can create basic metaverse elements such as trees, roads or buildings, or you can create a limited number of in-game NFT weapons, abstract artwork in the metaverse gallery, such as cryptovoxels.