From Artists to Burma
How ArtForBurma will work
As previously anticipated, the ArtForBurma project has a dual goal:
- approaching artists who care of civil rights issues to the blockchain NFT market
- support a development of a free Burma with the funds obtained from the sale of the artworks
Our first storefront
We opened a storefront on OpenSea, a very active NFT marketplace of artworks, collectibles and so on, where every subject interested in the project will put for sale his artworks on separated “collections”.
The profits earned from every collection will be deposited automatically to the Ethereum address corresponding to the ArtForBurma OpenSea account: that address it is in our full control, and thanks to the transparency granted by the blockchain, all the transactions that will pass through this address can be checked by everyone.
NFT sales: our commitments with the Artists
We will agree in advance with the artists on the percentage from the sales destinated to support Burma on every single collection: this percentage shall not be lower than 50% of the sale price, net of the following withholdings:
- the sales on OpenSea are subject to a 2% percentage withhold by OpenSea itself (this could change in the future, is out of our control)
- an unpredictable “gas fee” retained from the Ethereum network at every transaction (could be $1 — $50, on that the Etherem task force is working actively to try to lower the fees). On that we will agree with the Artist on the number of transactions to try to minimize the gas costs
- an additional 5% will be withhold by ArtForBurma to auto fund the project, namely invest on online advertising or connect to paid services to expand our potential and visibililty
The remaining sale profit in Ether will be transferred to a wallet indicated by the artist as personal profit for their work.
How we will fund Burma
Obviously would be much more easy to fund directly burmese people via the Ether collected by our wallet, but at this moment we are trying to understand if there would be some subject able to convert ether into cash kyats inside the country: if you do know anything on that, please let us know!
In the beginning we will fund CRPH — Committee Representing Pyidaungsu Hluttaw via their donation service:
https://donate.crphmyanmar.org/
At the same time we are looking for partners like ONGs, foundations etc that could support us delivering the funds: please write at art4burma@gmail.com
Stay tuned, we will announce our first collaborations shortly!
