a) Fact-checking organization authorize FACTS-NFT to mint selected fact checks as an NFT and to display them on a third-party marketplace (eg. OpenSea)
b) Fact-checking organization keeps the right to publish, sell and distribute the fact checks negotiated by FACTS-NFT. It's important to remember that once a fact check is minted, no changes can be made to its NFT version.
c) Fact-checking organization authorizes buyers and auctioneers to resell their fact checks as a way to obtain financial profit. They will keep the percentage of the royalties if the buyer decides to resell using the same third-party marketplace. At this moment there is no way to keep a resold NFT on a cross-platform format.
d) Buyers and auctioneers know that they can't change a fact check and that the high quality of a fact check might be time-sensitive.
e) Revenue shares will be paid in Ethereum: 86.5% of each transaction is to be sent to the fact-checking organization; 10% to FACTS-NFT administration; 2,5% is to be withheld by OpenSea; and 1% will be paid to FACTS-NFT legal team. Note: fees to transact in Ethereum are costly and variable. They will be taken by fact-checking organizations.
f) Payments can only take place up to 21 days after a transaction.
g) Partners must keep in mind that cryptocurrency and blockchain networks are evolving fast and that not only platforms but also standards and fees might vary in the near future. We are exposed to the risk that the fees, revenue shares, delays on the execution of payments could alter mainly motivated by the third-party partner. As a way to mitigate these risks, we can decide to change to another platform (peer-to-peer marketplace). If that occurs, we will communicate immediately with you.