A tool to create tokens that give the holder a portion of every transaction in/out/thrrough a specific smart contract or wallet or something, excluding the creator of the token. This could be cool for artists to give collectors a new benefit for collecting! Artists would determine how they would distribute the tokens to collectors, maybe after purchasing a certain amount or certain value of their work, they could be rewarded with one of these tokens & then recieve a % of every sale for that artist. The % should be determined at time of minting the token, as well as how many.
The artist has full control over who gets them & how many, se even if they are fungible, they can only be received directly by the artist until such a time that someone owns one & they can decide if they want to sell it, send it, etc. The value the token would bring could be extremely high!
Is this related to music royalties? If so, that will be difficult to bring on chain, and also is a much needed innovation that many people would like to see happen!
Curious to learn more about the details of your project!
It could be similar! For example, let’s say you have an NFT store setup at Mintbase. They already have royalty integrations there so the creator gets a portion of any secondary sales.
But if a token could be created that integrates with your Mintbase store so that it distributes split % of every transaction going through it to all holders of the token, except for the creator, that’s kinda what I’m thinking!
The token creation tool could have integration with other platforms as well, like trading/swapping platforms. Imagine if all UNI holders on ETH got a portion of EVERY swap, just for holding UNI!
Subscriptions to a service or community or something could give a token that gives all holders a portion of every future subscription! Or any sponsiship payments.
If it were company tokens, the token woiuld earn holders a portion of all revenue for the company. That sort of thing!
Of course, this would require that, for anything the token is being created for, it would have to go through some kind of smart contract. With a company, all payments to or earnings would have to pass through a smart contract that kinda runs this filter. It’d be a great investment opportunity & can’t backfire so long as the company thinks ahead, does the math & determines the max % to be distributed, split between all tokens.
Since smart contracts can live at wallet addresses it’s not too far fetched to write a smart contract that does the distribution.
You’d get a lot of additional functionality by using SpuntikContract v2 which is on the horizon. It allows a DAO to launch a token. It also allows DAOs to execute arbitrary function calls. You could have a custom function that distributes DAO treasury to token holders on a monthly or quarterly basis.
Would be awesome to see this further fleshed out, it’s a bit fuzzy but does feel like it has some interesting governance implications! Nicole has been linking the excellent Only 10 Slides You Need (Kawasaki) which could be used as a framework to put some more meat on this. I think a diagram of the mechanics would be especially helpful.
Awesome! Let me try to think of how to visualize it. Taking words from my brain & depicting them is always a challenge for me lol