SC005: Create New Revenue Stream for Seen Haus

Intro

Currently sales revenue for artists, galleries and Seen Haus is limited by the number of physical pieces we are able to auction.

This will always be a limitation of physical art.

If it’s a 1 of 1 piece, there can only be one winner.

This shuts out additional bidders and a segment of buyers who are only interested in the digital artwork.

Seen Haus’ margin on each auction is also reduced significantly due to the considerable amount of time and money working with artists creating the NFTs.

Therefore I am proposing we mint additional NFTs for each auction with a percentage of sales going to the physical winner.

How it works:

Immediately following the conclusion of each auction, Seen Haus will offer a number of NFTs for 24-hours.

These NFTs will not include physical artwork and can be traded immediately on any marketplace.

For each NFT sold, a percentage set by governance will go directly to the winner of the auction.

Any NFTs unsold after 24-hours will be burned.

Why this works:

For Seen Haus: This will create a new revenue channel and will establish a robust secondary market for Seen Haus NFTs. Generating more revenue for artists will allow the SEEN platform to scale and encourage bigger artists to work with Seen Haus.

For Customers: If you win the auction, you will own the physical artwork, an NFT and royalties from any additional NFT sales therefore subsidizing your original purchase price. It also gives an option to those unable to win the auction or only interested in the digital artwork.

Voting:

Yes - create new revenue stream for Seen Haus

No - leave auction system as is

Note: In version 2, you will be able to stake the $SEEN token, vote in governance and claim a percentage of revenue generated by the platform.