Creative Workshop Whitepaper
The Creative Workshop is Metacraft’s NFT distribution platform. It helps people issue and sell NFT assets under the Metacraft protocol, including skins, avatars, emotes, lands, buildings, models, and parallel worlds, with low barriers to use.
Both official and unofficial assets under the Metacraft protocol will be distributed through this platform. For artists and creators, it’s not only an easy-to-use tool to create NFTs, but also a platform for monetization. Long-term project supporters (Pass holders) and Intellectual Property owners can capture the value of creativity as well.
We divide the users of the Workshop into three groups:
- 3.IP (Intellectual Property) Owners
Metacraft Workshop Economics Model
The creators are the ones who publish NFTs in the Creative Workshop and execute initial sales.
The buyers are the person who purchases these NFTs on the platform and collect them.
Who are the IP (Intellectual Property) Owners?
In traditional literature and film, such as Spider-Man, Journey to the West, and Greek Deification, each character is an independent IP, and there are endless works that are adapted and created based on these IPs. Some stories that were not originally in one system were also combined and compiled into one story. For example, the Marvel Universe, and the God of War series. Derivative works other than these original works not only allow the IP to continue, but also allow the endless creativity to be made possible, and they are adored by fans.
Similar situation exists in the NFT industry as well, with giants like BAYC and classics like Cryptopunks. However, currently these IPs are relatively isolated, lack of derivative work, lack of usage scenario, and lack of mechanisms that can guide the cooperation between IP owners and creators.
In the Metacraft creative workshop, not only original works are encouraged, but also derivative creation of existing IP is encouraged. Creators can choose to create derivative works for a certain NFT, that is, inherit all the properties of this NFT.
Creators can sell the created NFTs in the Workshop's store, and a portion of the sales proceeds will be distributed to the referenced NFT holders and every IP collection holders. Referring to IP creativity is permissionless, IP holders can also receive benefits on the platform at any time.
For authors of derivative works, they will get creative inspiration from IP brands to create works with their own unique stories.
For IP brands, a wealth of derivative works promotes the prosperity of their ecology, and IP holders can also receive sales revenue from excellent works. On the other hand, a strong brand will also attract buyers.
Part of the royalties of the first sale of NFTs released in the workshop, and part of the royalties in the transaction will be distributed to SeasonPass holders.
In addition, the 11 creatures in the Metacraft Season Pass will be mapped as new properties, which are available for the creation of various types of NFTs. Each holder of the chosen creature will receive an additional sales/transaction income share.
Taking Skin NFT as an example, if you choose different creatures, the skin will show different special effects in the game. The creator can choose the appropriate creature with special effects according to the style of the skin. It not only adds a dimension to rarity design, but also has practical value in the game.
Metacraft Workshop Value Capture for SeasonPass
For each NFT that sells successfully, 88% of the revenue goes directly to the creator and 12% is distributed as royalties as follows:
- 1.2% to the referenced NFT holder. (If it is original, this part will belong to the protocol treasury)
- 2.2% to all NFT holders of the referenced IP collection. (If it is original, this part will belong to the protocol treasury)
- 3.2% to SeasonPass NFT holders of the referenced creature
- 4.2% to all holders of SeasonPass NFT
- 5.4% to the Metacraft Protocol Treasury for the development and operation of Metacraft
After the first sale, the NFTs transaction royalties on the secondary market are 2.5%, distributed as follows:
The creator, all SeasonPass holders, and the Metacraft protocol vault are divided equally. That is, 1:1:1
Assets published through the Creative Workshop (onchain NFT contracts) will comply with the Metacraft protocol specifications, so it can be used in the main world of Metacraft (through the listing review process), as well as in other parallel worlds of the Metacraft ecosystem in the future, and even in the native Minecraft game. This makes the NFT you publish naturally have a usage scenario in the metaverse.
For example, if you publish a skin NFT collection, through sales data review and governance voting, it will have the opportunity to be whitelisted for skins in the Metacraft main world. The holders can wear the skin NFTs with their Metacraft characters. In addition, players can also wear this skin in all parallel worlds under the Metacraft protocol.
Metacraft's NFT protocol describes the most basic material, which can be easily transformed into different forms of presentation, resulting in derivatives of various forms. Metacraft will provide some derivative implementations, and we believe that developers will also build more creative derivatives.
For example, a skin is a personal picture, and an avatar is a subset of a personal picture. Creators release skin NFTs through the Creative Workshop, and users can directly obtain avatar derivatives. Creators can even choose avatar mode when publishing, allowing skin NFTs to appear as avatars in various market applications. We believe that in the future, creative teams will create more innovative conversion rules and release derivative NFT collections.
Metacraft NFT derivative works
Since the birth of Cryptopunks, the permutation and combination of properties has brought infinite creativity to the NFT market and incubated many influential IPs. However, these IPs operate independently, mainly relying on the unilateral output of the project. There is a lack of a mechanism to combine them and incubate products with more usage scenarios and creativity.
Metacraft Creative Workshop provides a solution for the derivation of brand IPs. Creators can create propositions according to the properties provided by the IP owners, and the profit from these creations will extract a certain royalty to the IP owners. In this way, for those brand IPs that are used, they not only get the continuation through derivatives, but also gain royalties. And creators can also get creative inspiration and the attention from fans of these IPs.
Meebits to Metacraft Skin Demo
NFT assets are the cornerstone of the Metaverse, and the largest usage scenario of NFTs will also be the Metaverse. At this stage, the NFT market category is unbalanced and lacks the necessary basic assets of the Metaverse. We hope the Workshop will help the Metacraft Asset Protocol expand rapidly and continue to create creative assets.
We will continue to focus on innovation and experimentation to help the NFT market go from brand prosperity to full prosperity.